By the year of 2013, the Flamengo Club, swamped with debts, and with most of its anual revenues already committed, the board breached the contract with its major soccer player, Vagner Love, and returned him to his previous team in Russia, the CSKA. There was the beginning of the club s crash with years of irresponsibility, headed by its general representative (also called as president), Eduardo Bandeira de Mello, during the years of 2013-2015. This review focus on analyze the Flamengo s Club management during the years of 2012 until 2021: by the year of 2012, it was the end of Patrícia Amorim s management, and by 2021, Flamengo s soccer major team achieved its second Libertadores da America Tournament finals in the last 3 (three) years, with a revenue peak above to one billion reais, exceeding its best year since 1981, that was the year of 2019. In summary, this review provides as main subject to analyze the financial value of Flamengo s Club, appliyng Tom Markham s method of valuation, and its ability to keep itself competitive during the last years and postulating for the main tournaments in the country and continent, after so many years building weak soccer teams.