No. Based on the latest publicly disclosed calculation before the transfer was officially announced, Palmeiras had not yet reached its R$399.6 million target for player-trading revenue in 2026. On August 26, the club calculated approximately R$344 million, or about 86% of the annual target. That total already included the guaranteed portion of Allan's transfer to Manchester City. City's confirmation of the deal on August 31 does not automatically turn the performance bonuses into secured revenue.
The source of the confusion is straightforward: Allan's transfer can be described as a deal worth up to €40 million, but Palmeiras used only the €37.5 million fixed fee in its budget-tracking calculation, roughly R$225 million at the exchange rate used in the disclosed estimate. The remaining €2.5 million depends on conditions being met. That is why adding the maximum headline value of every transfer and comparing it directly with the budget can lead to the wrong conclusion.
How much was still missing from the R$399.6 million target?
Using the roughly R$344 million reported on August 26 as the reference point, Palmeiras was about R$55.6 million short of the R$399.6 million budgeted for 2026. The figure is approximate because the R$344 million total was itself rounded and several deals are denominated in euros or US dollars.
| Reference | Approximate value | Included in the disclosed calculation? |
|---|---|---|
| 2026 player-trading revenue target | R$399.6 million | Annual target |
| Palmeiras calculation on Aug. 26 | R$344 million | Yes |
| Allan fixed fee | €37.5 million, about R$225 million | Yes |
| Allan bonuses | Up to €2.5 million, about R$15 million | No, while conditional |
| Gap to the target in the Aug. 26 snapshot | About R$55.6 million | Still to be generated |
The R$399.6 million target was reported in December 2025 as Palmeiras' largest projected revenue line for 2026. According to ge, it represented roughly 32% of the club's revenue budget for the season. Palmeiras' transparency portal also provides access to the approved budget and monthly financial statements for the year.
Allan's transfer was already inside the R$344 million figure
This is the most important detail in answering the question. The R$344 million total was not the amount before Allan. It was the estimate already boosted by his transfer.
In its August 26 report, ge detailed the methodology attributed to the club: for Allan, Palmeiras counted approximately R$225 million corresponding to the €37.5 million fixed fee because that was the secured portion. The report also said the club did not include FIFA solidarity-mechanism revenue in this budget calculation.
On August 31, Manchester City officially confirmed Allan's signing on a five-year contract, subject to international clearance. City did not disclose the transfer price in its announcement. The split between €37.5 million guaranteed and €2.5 million in bonuses was reported by outlets including ge and UOL.
Why do rankings show €40 million while the budget uses €37.5 million?
Because they answer different questions. A biggest-sales ranking often highlights the potential package value: what the transfer could ultimately be worth if every condition is met. Budget tracking, however, needs to distinguish guaranteed consideration from amounts tied to future events.
- €37.5 million fixed: the contracted, secured portion included in Palmeiras' disclosed calculation.
- Up to €2.5 million in bonuses: variable consideration; it should only be treated as realized for this comparison when the relevant conditions are met.
- €40 million: the potential ceiling of the deal, useful for transfer rankings and describing the full package, but not the same as guaranteed revenue at that point.
Even if every Allan bonus were later earned and worth roughly R$15 million, a simplified calculation holding everything else constant would move the R$344 million total to about R$359 million. Palmeiras would still be roughly R$40.6 million short of the target. Allan's bonuses alone therefore would not close the gap.
What did Palmeiras count besides direct player sales?
The phrase “player sales” can sound as though it refers only to permanent transfers from the first-team squad, but the club's disclosed calculation was broader. The August 26 report included amounts to which Palmeiras was entitled in transactions involving 11 players.
In addition to Allan, the calculation included Kaique's move to Sporting, Facundo Torres to Austin FC and Naves to Necaxa, as well as Palmeiras' retained share in Jhon Jhon's transfer from Red Bull Bragantino to Zenit. It also included smaller revenues linked to Gabriel Silva, Pedro Lima, Léo Azevedo and Pedro Felipe, players in whom Palmeiras still held percentages, plus paid loans involving Sorriso and Luighi.
This helps explain why a list of “direct sales” can produce a different total from budget tracking. In the methodology described by ge, Palmeiras includes retained economic percentages realized in later transactions and paid loans, while excluding FIFA solidarity-mechanism revenue for this purpose.
The year in which revenue is recognized also matters
Another trap is relying only on the date a payment or transfer is discussed in the press. The example cited by ge is Aníbal Moreno: his move to River Plate was completed in December 2025 and was therefore assigned to the previous year's accounts and targets, even though the transfer was connected to squad planning for the following season.
In practice, this means one should not assume that every cash inflow connected to a player in 2026 necessarily belongs to the 2026 target, nor that every headline transfer figure is recognized in full at the same moment. Without the contract and the relevant financial statements, the safest approach is to follow the criterion the club itself reports when tracking the target.
What about the proposed sale of Riquelme Fillipi?
After the R$344 million calculation, Palmeiras moved forward with negotiations to sell Riquelme Fillipi to Inter Miami. On August 27, ge reported that the clubs were exchanging documents for a transfer of 60% of the forward's economic rights.
As of the cutoff used here, August 31, 2026, that transaction did not yet have a public confirmation comparable to Allan's that would justify safely adding it to the total. If it is completed and recognized by Palmeiras in 2026, it will reduce the remaining gap, but the amount actually booked should be checked once the deal is formally completed.
So, did Palmeiras hit the target or not?
Not in the latest publicly available calculation. Allan's sale was decisive in lifting Palmeiras to roughly R$344 million, or 86% of the R$399.6 million target, but that figure already included the fixed portion of his transfer. Manchester City's August 31 announcement confirms that Allan changed clubs; it does not add another R$225 million to a total that already counted it.
To track the target without mixing concepts, ask three questions: is the amount fixed or a bonus?; what percentage does Palmeiras actually own?; and in which financial year is the club recognizing the transaction? Using that framework, the most defensible snapshot on August 31 is approximately R$344 million in the disclosed tracking calculation and about R$55.6 million still missing, subject to further transactions and the recognition of variable revenue during the rest of 2026.
