Santos report rising debt levels as club faces life in Brazil’s second tier
May 1 – Santos, who were relegated to Brazil’s Serie B last season, have reported rising debt of more than 4%, from R$578 million ($111 million) in 2022, to more than R$600 million in 2023.
It is not uncommon for Brazilian clubs to carry high debt levels, which are often restructured over decades, but more recently Brazilian clubs have taken a different approach to reducing debt as they have modernised commercial structures.
In 2022 Santos changed club leadership from president Andres Rueda with the new management focussing on generating more revenue through increased fan membership,
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