Club may receive sponsor funds after signing lottery regulations

Marcio Iannacca

From GLOBOESPORTE.COM

Flamengo's board expects to receive the sponsorship funds from Petrobras within two weeks, which have been withheld since the beginning of the year due to debts owed to the government. The club will only be able to receive them after the signing of the Timemania regulations, scheduled for next Tuesday at 14:30 p.m. in Brasília. Flamengo's president, Márcio Braga, will be in the federal capital to monitor the entire process, which awaits the signature of President Luiz Inácio Lula da Silva.

After signing, Flamengo must submit the debt acknowledgment documentation to Caixa Econômica Federal, and only then will it receive the debt clearance certificate. With the CND in hand, the club will be able to receive all the funds from the state-owned oil company. Approximately R$6 million will go into Flamengo's coffers. Flamengo and Petrobras have been partners since 1984.

In 2007, the club began receiving approximately R$1,3 million per month from its sponsor. However, the money is being held due to a lawsuit. With Timemania, the club will no longer have problems receiving the agreed-upon amounts. Player and staff salaries are up to date.

The club's board of directors is planning to bring a delegation of athletes to Brasília. Striker Obina and athletes from other sports are expected to be present to witness the signing of the regulations.