Corinthians’ gross debt is R$1.96 billion at the end of 2023, according to the latest balance sheet. Net debt is around R$1.5 billion. Both values include liabilities related to the construction of Neo Química Arena with Caixa Econômica Federal.
Of this total debt, there are debts with suppliers, athletes’ image rights and provisions for contingencies that could be included in a judicial recovery. In total, these values add up to around R$400 million.
In judicial recovery, the club would have to propose a payment plan to creditors. In general, generous discounts are offered on the total amount of debts. But the plan is only approved if a majority of creditors approve the idea.
For now, Judicial Recovery is an alternative presented by EY. The club has not yet made a decision on the matter. The blog found that the company’s report has not yet been completed with all the data collected on the black and white crisis.
In addition to RJ, EY also proposed hiring a CEO for Corinthians, which has already been done at other clubs such as Flamengo, Grêmio and Athletico, which have more professional management.
