Clube de Regatas do Flamengo secured a major legal victory this Tuesday. The victory came in the Superior Court of Justice in its dispute with the Central Bank. The club will no longer have to pay a fine of approximately R$127 million.

From 1994 to 1998, the Central Bank conducted a comprehensive inspection of Flamengo and imposed a multi-million dollar fine. However, the club sued to overturn the fine. The case had been ruled in Flamengo's favor, but the Central Bank appealed to the STJ.

While the STJ was not ruling on the appeal, the Central Bank requested the seizure of the fine amount and, on January 21, a seizure of Flamengo's revenues was ordered. 

Because of this, the Appeal's judgment became vital for Flamengo because, if it were defeated, it would immediately lose the R$126.998.514,57 and its legal additions. In In the trial held this Tuesday, the STJ ruled in favor of Flamengo by 3x2.

Below is the statement from Flamengo's Vice President of General and Legal Affairs, Rodrigo Dunshee:

"Today, the Superior Court of Justice (STJ) confirmed Flamengo's victory in the sanctioning process promoted by Bacen (Central Bank). Flamengo had been considered a violator in a part that it was not. The club sold Sávio and received part of the payment in the form of another player's transfer. This is a very common operation in football and it was neither fair nor legal for Flamengo to lose R$130 million as a result.

There's a lot of passion involved in everything involving Flamengo, but the justices understood that an entity or individual shouldn't be punished when there's so much doubt about their wrongdoing. Justices Benedito, Gurgel de Faria, and Manoel Englhart voted in our favor: 3 to 2 for Flamengo.      

Therefore, due to some past failures, which we acknowledge and regret, Flamengo will pay the Central Bank approximately R$10 million. However, it will not lose the exorbitant R$130 million that was in fact undue. We must celebrate this victory."