Gross debt of the club reached the accumulated of R $ 2.5 billion in the year 2024
The gross debt of the accumulated of R $ 2.5 billion in the year 2024, according to the financial statement prepared by the club. Part of the liability is negotiated through the National Chamber of Dispute Resolution (CNRD), an organ created by the Brazilian Football Confederation (). The agreement, approved in April this year, allows the club to pay the amount of R $ 76.9 million without suffering sports sanctions. Following a proposal presented by the team, the creditors were able to make their considerations until a definition was reached. An important point is that there is no guarantees for non -payment. The justification is that non -compliance authorizes CNRD to apply the prohibition of prohibition of registration of new athletes for a minimum period of six months.
The process covers R $ 76.9 million to be paid, in addition to an amount of 363 thousand euros (R $ 2.3 million). The CNRD judgment panel accepted the payment plan in 24 quarterly installments. The first is scheduled for July 17 this year, while the last will be on April 17, 2031.
Of each installment, 80% of the amount is intended for the creditor, while the other 20% are to cover fees. The estimate made by CNRD is that at least half of the processes will be paid within two and a half years. The amounts will take into account the Consumer Price Index (IPCA) for correction.
The greatest creditor, adding four different processes, is Link Advisory Sports and Advertising. The company belongs to André Cury, one of the main businessmen and representative of players in the country. In reais alone, the amount due reaches R $ 18.7 million. Second place is from Cuiabá, which has a credit of $ 18 million with Corinthians, for negotiation of midfielder Raniele. The installment granted by CNRD is a reason for revolt of the president of the Mato Grosso club, Cristiano Dresch.
“Our indignation is that the amount we have to receive, which is $ 18 million, will be divided into 24 quarterly installments, breaking all the agreement initially made with Corinthians. The player bought by 2024 will have finished paying only 2031, without interest. This is not clear.
The hiring of Raniele took place in January 2024, and since then, Corinthians has sometimes pledged to install the value, something that has not happened within the deadlines stipulated by the player’s origin club. The Cuiabá then filed a request from CNRD to try to receive what had been previously stipulated.
“The appeal I do is that today they do not negotiate with Corinthians. We expected that CNRD, which is an independent body of the CBF, acted with neutrality, and what we see is just the opposite,” complains Dresch. In total, Corinthian debts total more than R $ 76 million, in addition to the correction of inflation. There is no incidence of interest. Dresch classifies the decision as an “default invitation”.
In parallel to the CNRD agreement, Corinthians obtained a favorable score at the São Paulo Court of Justice (TJ-SP), on April 9, for the approval of a plan to pay R $ 367 million through the Centralized Regime of Executions (RCE). The amount is expected to be paid in approximately ten years using 4% of the club’s recurring revenues. Debts will be corrected by the Consumer Price Index (IPCA) and there is a 60% settlement target in the sixth year.
With the approved plan, the ongoing actions and executions against Corinthians are suspended, and the creditors involved in the RCE can make charges only within the terms provided for by the plan. With payments, the debts will be paid “automatically, unrestricted and irrevocable”.
Both the TJSP and CNRD agreement give the corinthians coffers, which suffered from frequent blocks of values in 2024 because of actions in court. Thus, even with record revenues of R $ 1.1 billion, the club had difficulty maintaining cash flow.
It is noteworthy that most of the Corinthians liability refers to debt with Caixa Econômica Federal by the Arena in Itaquera. The club owes approximately R $ 668 million to the state bank for the stadium, whose Naming Rights belongs to the pharmaceutical company Neo Química.
The parties signed a protocol of intent with the club’s main organized Gavião, to pay off the stadium through a “kitty.” About R $ 40 million has already been collected and the initiative, which in principle would last six months, should be extended.
*With information from Estadão Content
Posted by Nátaly Tenório
