Consultancy undergoes analysis and Corinthians must postpone ‘transparency week’ again

Since Augusto Melo’s management began, Fiel has been waiting for the final result of the consultancy carried out by Ernst & Young (EY), a company hired by the board and a reference on the subject. However, Corinthians fans will have to wait for a new date to find out the final balance of the service.

After months of study, the complete report was presented to the board this week. The documents, however, will be analyzed by the black and white leadership. Therefore, the so-called “transparency week” must be postponed again and will have a new date soon. The information was published by ESPN.

It is worth remembering that after the defeat to Red Bull Bragantino, in the third round of the Brasileirão, Augusto Melo even set May 9th, this Thursday, as the deadline for presenting the reports. However, this did not happen.

“Look at the situation we have at the club. We are looking for partners so that we can have a good squad, a strong squad. You will understand on the 9th, God willing, we will be passing on many things to you (press) from all the work that has been done“, said the black-and-white president.

The date was confirmed by Rozallah Santoro, financial director of Corinthians, in a press conference at Parque São Jorge after the approval of the 2023 accounts.

“Initially it is scheduled for the 9th. We hope to show the result of the management carried out by Ernst & Young and show the next steps, after what we found”, said Rozallah.

This is not the first time that “transparency week” is postponed. After the victory over Nacional in the Copa Sudamericana, on April 9th, Augusto set April 15th as the deadline.

“Until the 15th or so, it will be ‘transparency week’, when everything will be disclosed. It ends now”, said the president.

What should the report show?

According to ESPN, the document should show a total debt of around R$2.1 billion. This number is surprising, as it points to R$500 million more than projected in the last financial statement published by management last, captained by Duílio Monteiro Alves.

The company must also detail Corinthians’ current situation, in addition to offering advice to establish goals and solutions. One suggestion would be to hire a CEO to lead the club, which was not well received by the board.

See more at: Corinthians Board of Directors and Corinthians Debt.