Brazilians and Argentines make up the entirety of the 25 most valuable clubs in South America, according to the Transfermarkt website.
In the top-10, representing Brazil are: Flamengo, Palmeiras, Grêmio, São Paulo, Corinthians, and Internacional, while River Plate, Boca Juniors, Vélez Sarsfield and Racing Club make up the rest of the lot.
To almost nobody’s surprise, Flamengo top the list with their players being worth a combined €151.2m (R$820m).
Rubro-Negro’s economic success comes partially from good financial management, which began in 2013 under the tutelage of former president Eduardo Bandeira de Mello.
Back in 2013, Bandeira de Mello employed a policy of financial austerity which has proven fruitful in the last year, with Flamengo reaching the Club World Cup final after winning the Carioca, Brasileirão, and Copa Libertadores titles.
Flamengo also heavily invested in their youth academy, which resulted in Lucas Paquetá, Vinícius Júnior, and Reinier being sold for a combined €113.4m (R$624.8m) in the last 18 months.
2018 Copa Libertadores champions and 2019 runner-up River Plate is second on the list. Though the club is sponsored by Turkish Airlines, which gives them $5m (R$25m) annually over a three-year period, their financial statements showed they are not currently making a profit.
The first club that is not Brazilian or Argentine on the list is Junior Barranquilla (Colombia), who appears 26th.