The fundraising campaign to pay for the Corinthians stadium, in Itaquera, in the east zone of São Paulo, began with high demand from donors. The searches far exceeded initial expectations and clogged the action website. Even so, in just under 24 hours, until 6:46 pm, R$7,460,904 had already been raised.
The crowdfunding was created by the organized Gaviões da Fiel and has the support of the club and Caixa Econômica Federal, responsible for financing the arena – which was inaugurated in 2014, as Arena Corinthians, and in 2020 its name was commercialized, changing its name to Neo Química Arena.
According to the latest balance sheet released by the black and white board, referring to the first half of the year, the debt with Caixa was R$710.1 million. According to the most recent agreement signed between the club and the bank, the financing must be paid off by 2041. Corinthians gained a grace period and has only been paying interest, with the payment itself starting in 2025.
Therefore, the campaign set a goal of obtaining R$700 million. However, in practice, the objective is smaller, because R$710.1 million is the amount expected to be paid by 2041. The fundraising has a maximum expected duration of six months, and a new negotiation will be made based on the amount collected, with a considerable discount for immediate payment.
“We are going to give a discount. This has to be included in the account”, stated the president of Caixa, Carlos Vieira, last month, on the occasion of signing the campaign’s protocol of intentions. “When the bank receives money in advance, it has the possibility of offering a series of opportunities. We will study the possibility of a reduction based on the success of the campaign, which, I am sure, will be successful.”
The number needed to pay off the debt at once was not disclosed, but the start of the fundraising was considered quite encouraging. The donation platform was released on Wednesday (27), at 7:10 pm – a reference to the club’s founding in 1910 – and there were 1 million hits in the first hour. Shortly afterwards, the site was taken down with 2.5 million simultaneous hits.
Thousands of fans reported difficulties in the process, and organizers asked for calm. They also asked to be careful with scams and reiterated that the only way for donations is the website www.doearenacorinthians.com.br. In the early afternoon of Thursday (28), Corinthians said that it had already taken down 36 fake website addresses.
Donations go directly to an account indicated by Caixa and do not go through Corinthians. This has two objectives: to prevent the club from using the funds on something other than the stadium and to prevent the money from being blocked in legal actions by other of the many creditors of the black and white association.
The action is monitored by a fiscal committee with six members: one from the club’s board of directors, one from its Deliberative Council, one from Gaviões and three independents. The official website also lists 13 ambassadors, including idols and black and white personalities: Alessandra Negrini, Alfinete, Badauí, Basílio, Benjamin Back, Craque Neto, Fernanda de Freitas, MC Hariel, Rappin’ Hood, Rodrigo Mato Seco, Romero, Sabrina Sato and Tamires .
Donors receive a certificate that they contributed and can authorize the inclusion of their name on a panel to be installed at the Itaquera stadium. Figures such as pivot Deives, from the Corinthians futsal team, have already displayed their certificate on social media and encouraged new donations.
The campaign was also publicized by striker Memphis Depay, who was at the Gaviões da Fiel headquarters on Wednesday. The Dutch newcomer, who has been immersing himself in the popular culture of São Paulo, even ventured into the deaf, playing alongside members of the organized crowd, which is also a samba school.
