A candidate for the presidency of Portuguese football club Benfica claims the storied team has lost its core sporting identity, transforming into a mere “player trading post” under its current leadership. João Diogo Manteigas stated in an interview that the club lacks a defined sports project, marked by constant changes in its squad and coaching staff.
This strategy has led to a lack of stability, evidenced by five different head coaches overseeing the team in the last four years. These included Jorge Jesus, Nelson Veríssimo, Roger Schmidt, Bruno Lage, and José Mourinho. Manteigas argues such turnover makes a cohesive sports project impossible.
Under current president Rui Costa’s tenure, Benfica has spent an estimated $463.3 million on new players while generating approximately $750.8 million from sales. Manteigas asserts this approach prioritizes quantity over quality in signings. He believes the club should sign two or three players at most, rather than five, to better utilize its existing scouting network.
Benfica relies on selling key athletes because its ordinary revenues, such as sponsorships, audiovisual rights, and ticketing, are insufficient to cover operational costs, Manteigas asserted. He noted that operational revenues increased by 5% in the last four years, but operational costs rose by 18%. Liabilities grew by 25%, bank debt by 40%, and debts to third parties, including other sports clubs, also increased due to the substantial player acquisition spending.
The rapid sale of promising young academy talents further illustrates this approach. Manteigas cited the example of João Neves, who transferred to Paris Saint-Germain for $63.9 million after only a season and a half with Benfica’s senior squad. He believes players like Neves should remain longer, develop into captains, and serve as examples for younger academy players.
Manteigas, an attorney, rejects what he calls “austerity” but advocates for reducing “excessive costs,” investigating external supplies and services, renegotiating supplier contracts, and reinvesting savings into the football department. He contends that this would allow the club to strengthen its sporting foundation.
He also believes Benfica’s sponsorship income, currently around $25.7 million, is too low. Manteigas revealed discussions with a large American sports business group regarding naming rights for the Estadio da Luz. The estimated value for these rights ranges from $7.45 million to $10.65 million, a figure he attributes to the stadium not being a new facility. He does not plan to demolish the Estadio da Luz but suggests it could be expanded by 12,000 to 15,000 seats.
Manteigas expressed reservations about the “Benfica District” real estate project. He described it as a “beautiful project on paper” but questioned how it would be developed without impacting the club’s sporting performance. He emphasized that Benfica was founded as a sports entity to win, not to focus on real estate investments.
The presidential election is scheduled for October 25. Other candidates include current president Rui Costa, former president Luís Filipe Vieira, João Noronha Lopes, Martim Mayer, and Cristóvão Carvalho. Should no candidate secure a majority, a run-off between the top two contenders will take place on November 8.