Official Note - Agreement with players in response to the COVID-19 pandemic
By Flamengo Regatta Club - inThe economic crisis resulting from the COVID-19 pandemic is serious and affects everyone. Unfortunately, tough measures are necessary to ensure the continuity of all institutions and companies. O Regatta Club of Flamengo, despite its size and balanced financial situation, is not immune to this.
Within this new economic reality, the Club and its professional football players announce that they have reached an agreement to reduce salaries and postpone image rights, which will be valid for the months of May and June 2020. After this period, a new assessment will be made regarding the economic impacts of the pandemic and possible adjustments will be discussed.
For this first stage, the entire professional squad of players authorized the Club to reduce their salaries by 25% for the months of May and June 2020. Furthermore, it also authorized the postponement of image rights that would be paid in May and June 2020 to be paid in 10 installments, starting in January 2021. This agreement will be formalized between the club and the athletes in the coming days.
The measures taken this week (the most painful of which is the reduction of approximately 6% of its workforce), combined with this important agreement with the players, will help the Club: to pay off all labor rights of former employees; to preserve as much as possible the employment and timely payment of more than a thousand employees, including staff and athletes; to maintain the provision of services to the 16 members of its headquarters and to continue with the excellent sporting performance in all its sports, a desire of the 42 million fans that make up the Nação Rubro-Negra.
Finally, Flamengo reaffirms its full certainty that, together, we will overcome this challenge.