Corinthians board calls for cancellation of vote on statute reform | OneFootball

The Advisory Council (Cori) of Corinthians published an official statement on Tuesday afternoon requesting that the meeting to vote on the club’s statutory reform draft project be canceled. The body believes it needs more time to analyze the proposals—the meeting is scheduled for November 24.

The statement also addresses the possibility of Timão becoming a SAF (Sociedade Anônima do Futebol, or Football Corporation). Cori claims that discussions on this topic should be held with the creators of the existing proposals and says it has “always been open” to debate on the matter.

See Cori’s statement below:

“CORI initially emphasizes that it is broadly in favor of statutory reform, but, due to several identified illegalities, believes that the meeting scheduled for next 24.11.2025, to consider the draft project, should be canceled, so that careful analyses can be carried out of the procedures adopted and the content of the proposed changes in relation to current legislation, as well as the current statute itself.

Regarding the proposals to transform the club association into a Football Corporation (SAF), CORI believes the matter should be widely discussed in appropriate meetings with the creators of the existing proposals.

Finally, CORI stresses that it has always been open to discussions on the matters in question, in a democratic manner, always with the aim of contributing to improvements for our institution.”

(Photo: José Manoel Idalgo/Agência Corinthians)

Internal conflict

As Gazeta Esportiva reported on November 13, the Corinthians statute reform has generated internal conflict at Parque São Jorge. The president of the Deliberative Council, Romeu Tuma Júnior, insists that the DC vote on the project by the end of this month, despite pressure from council members.

However, according to the report, Paulo Pedro and other Cori members believe that council members need more time to discuss the project and promise to take legal action if there is not ample discussion of the text, which was presented at a press conference on October 27.

The council members would like there to be more meetings, in addition to the one scheduled for November 24, to debate the project in greater detail. Tuma, for his part, does not intend to give in. He believes that council members can meet unofficially throughout the month to discuss the text or send proposals to the DC, so that the 24th is reserved only for voting on the new statute.

The Council president had already publicly expressed his desire to conclude the process before the end of 2025.

And SAFiel?

The heated discussions at Parque São Jorge may stall the process of voting on the new statute. Amid this scenario, SAFiel emerged as an alternative. However, the project that foresees transforming Corinthians into a SAF (Sociedade Anônima do Futebol) has not yet advanced.

One of the main reasons is the recommendation from the compliance department, which evaluated the proposal from the group delivered to Romeu Tuma Júnior and the club president, Osmar Stabile. The department raised questions and suggested that the board not sign the letter of intent at this time.

‘Red flags’

There were three ‘red flags’ pointed out by the club’s compliance team. The first point is that the company Invasão Fiel S.A was recently established, with a low share capital of only R$ 3,000, despite promising to raise R$ 2.5 billion to pay Corinthians’ debts and invest in football.

(Photo: Disclosure/SAFiel)

Moreover, the club’s compliance found that Maurício Chamati, one of the creators of SAFiel, was involved in a fraud case in court, which was archived but cited in the investigation. Also weighing against the businessman, who is a co-founder of Mercado Bitcoin, is his relationship with the club’s former management, led by ousted president Augusto Melo.

Chamati participated, for seven months, in the Independent Finance Committee of Corinthians. The group’s members, created by Pedro Silveira, then the club’s financial director, signed an NDA (Non Disclosure Agreement) valid for five years, in order to prevent the leaking of confidential information.

The businessman, therefore, committed to maintaining confidentiality about the data he had access to. However, months after the dissolution of the Committee, which ended after Augusto Melo’s impeachment, Chamati began working together with Carlos Teixeira and Eduardo Salusse on the development of SAFiel. The project was officially launched on October 28 of this year.

In a statement, SAFiel responded to the ‘red flags’ raised and emphasized the need to debate the proposal within Corinthians’ internal bodies. The project’s members say they are “open to dialogue” with council members and associates at Parque São Jorge.

In Stabile’s hands

The decision to sign or not the SAFiel proposal is in the hands of Osmar Stabile. However, the likelihood of the Corinthians president moving the project forward at this time is low, given the compliance recommendation.

Last Tuesday, after the launch event for the 2026 Paulista Championship at Mercado Livre Arena Pacaembu, the executive said he would not sign anything until the raised questions are answered.

“We received the project and took it to compliance. Corinthians has a compliance department that works; in this administration, it works. In other administrations, I don’t know if it worked or not, but in this one, it works. We’re not going to leave any cursed legacy for the future. If there’s any issue, as there was from compliance, Corinthians will wait. The board will wait to see if they resolve the issues raised, and then we’ll talk about the technical part, the marketing part, all of that,” said Stabile.

“It has to go through compliance first. Corinthians does not sign a contract with anyone, whether it’s SAFiel or any other company, if there’s any issue,” he concluded.

This article was translated into English by Artificial Intelligence. You can read the original version in 🇧🇷 here.