Flamengo discuss sale of Gavea site to help finance new stadium proposal
April 16 – In a bid to advance its stadium plans, Brazilian club Flamengo has proposed to use the sale of its site in Gavea as security to raise more than $100 million.
Brazilian news outlet UOL reports that the club’s president Rodolfo Landim has approached the mayor of Rio de Janeiro with the proposal as the club estimates that the site at Gavea, which is of significant historical importance to Flamengo, will generate between 440 and 510 million reais ($83-97 million).
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