Corinthians paid more than R$170 million in debt, but depends on sales

DEBT PAYMENTS

Corinthians settled two outstanding issues with clubs abroad in the first six months of the year. The payments were made in negotiations that involved punishments or the risk of sanctions imposed by FIFA.

In January, the club paid around R$41.5 million to Santos Laguna, from Mexico. The amount was allocated to pay off the debt for the signing of defender Félix Torres, carried out at the beginning of 2024, and ended a transfer ban that had been in force since August last year.

In June, Corinthians disbursed approximately R$36 million to Talleres, from Argentina, through a financial operation with a private bank. The payment was related to the debt for signing midfielder Rodrigo Garro, also in 2024, and avoided the application of a transfer ban.

The club also paid two quarterly installments of the debt centralization agreement with the National Chamber for Dispute Resolution (CNRD), a body linked to the CBF. Added together, the values ??are around R$20 million. In addition, Corinthians disbursed R$25 million in tax transaction agreements.

The club also had more than R$50 million retained by Caixa Econômica Federal. The retention occurred due to receivables used as collateral in an agreement signed in 2022 for the renegotiation of Neo Química Arena's debt.

FINANCIAL COLLAPSE

The report found that the club is working with the need to raise at least R$150 million in player sales in the current transfer window. Internally, the assessment is that the entry of this value is essential to avoid a worsening of the financial scenario.

The transfer window will open next Monday and will be available until September 11th. The board understands that market movement tends to increase consultations and negotiations involving athletes on the squad.

"You're going to have to sell. There are real surveys. And I see, from my market experience, that it's heating up. As a whole, you're starting to have more surveys, more searches, more movements. The World Cup is ending, the European teams are going to start presenting themselves, starting the pre-season, there's something heating up. But we don't have firm proposals in our hands, for any player", Marcelo Paz, Corinthians football executive, in an interview with Band.

The Corinthians board states that it has adopted a policy of containing expenses in the signings made this season. According to Paz, the club did not invest in player transfer costs this year.

"The great virtue of a football manager is to make money. In football, the hardest thing is making money and the easiest thing is spending it. So, you have to be careful. What we did this year is that we didn't add fuel to the debt, all the signings were free of charge, with salaries within the club's reality", said Marcelo Paz.

The football department's expectation is that the opening of the transfer window will expand the possibilities for negotiations involving athletes on the squad. Despite the surveys received, Paz stated that Corinthians still does not have formal offers for players.

Corinthians has financial issues with players and employees. Currently, the club owes the professional cast the image rights for the month of July.

The situation was publicly mentioned by goalkeeper Hugo Souza after the friendly against Cascavel, played last weekend. The club also delayed wages for the last two months, which were later regularized.

At the moment, Corinthians has debts with employees hired as a Legal Entity (PJ). Payments remain pending.

In addition to internal disputes, the club has two active transfer bans with FIFA. Punishments prevent new athletes from registering.

Since May, Corinthians has been prevented from registering players due to a debt of 1.5 million dollars (R$ 7.63 million, at current prices) with the Philadelphia Union, from the United States. The debt refers to the hiring of midfielder José Martínez, carried out in 2024, during the administration of former president Augusto Melo.

This Monday, FIFA imposed a new punishment on the club. The transfer ban for an indefinite period was motivated by the non-payment of compensation amounts resulting from recent convictions at the entity and involves approximately 200 thousand dollars (just over R$ 1 million, at the current exchange rate).

The settlement of pending issues related to transfer bans was not treated as a priority by Corinthians until the last few days. The proximity of the opening of the transfer window changed the board's planning.

The club's main move in the market is negotiating the signing of striker Wesley, from Al-Nassr, in Saudi Arabia. The player intends to return to Brazilian football to play for Corinthians.

The club negotiates how to pay outstanding amounts and works to regularize the situation before the transfer window opens. The intention is to be able to register new athletes as soon as the registration period begins.

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