The president of Santos claims that the club has debts exceeding R$ 601 million.
"Every month, to balance the books, it's a back-and-forth of pushing and shoving," said Andrés Rueda, president of the São Paulo club.
247 - Santos president Andrés Rueda presented a spreadsheet showing the club has R$ 601 million in debt. "Debt is a living thing; you have a certain amount at the beginning of the month. If revenue is less than expenses, you end up increasing it," stated the Santos president during a press conference. "Every month, to balance the books, it's a back-and-forth," he added.
The manager described the club's situation as "manageable." "Why is it manageable? We increased our assets. Our debt, in the liabilities section, increased because when you sign a player, you record in the accounting all the salaries you have to pay over three years, creating a debt that you amortize. With this (balance sheet), the club's financial situation is manageable; our problem is cash flow."