The Sao Paulo club spends to sign advertisements for the season, but finds itself in financial difficulties; see numbers
Corinthians is even more indebted. According to the March balance sheet, in the first three months of 2024 the club has a debt of R$130 million. The information was initially provided by “ge”.
In this way, Corinthians’ gross debt went from R$ 1.96 billion in December 2023 to R$ 2.1 billion in March this year, with R$ 1.39 billion from the club and 717, R$8 million from the stadium (financing with Caixa).
Furthermore, the increase in the club’s debt is linked to investments made to hire players, in addition to the payment of fines, as in the case of the dismissal of coach Mano Menezes. After all, Timão hired 11 players and spent around R$130 million, according to published data.
During the period, Corinthians recorded a surplus of just R$10.7 million. The forecast was R$35.9 million. It was R$25.1 million lower than expected. This reflects the imbalance between what the club has raised and spent.
End of partnership
As if that wasn’t enough, VaideBet, which was the main sponsor, announced the termination of the contract with the Sao Paulo club. In the contract, Timão would receive a total of R$370 million for the three years of the agreement.
The bookmaker activated an anti-corruption clause and chose to terminate the relationship. The decision came after the Civil Police started investigations. After all, the authorities are analyzing the possible participation of an “orange” company in the sponsorship negotiations.
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Source: Terra
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