Corinthians move to replace Arena fund manager amid major police operation | OneFootball

Corinthians have moved to replace REAG/Arandu Investimentos as administrator of the Neo Química Arena fund, the club said on Friday, adding talks began in August 2025 after Operação Carbono Oculto and before the Central Bank ordered the firm’s liquidation.

The process with Caixa Econômica Federal passed compliance and due diligence, and potential replacements were assessed. It now awaits formalisation and later CVM approval, with no name disclosed.

In August 2025, Operação Carbono Oculto was launched and REAG/Arandu became a target. The probe alleges laundering in the fuel sector linked to the PCC, worth more than R$ 52 billion, and also involves Banco Master.

REAG/Arandu entered the arena’s structure during the 2022 refinancing with Caixa, under Duilio Monteiro Alves, when there was no investigation.

After details of that agreement emerged, the MP-SP asked the Polícia Federal to examine possible irregularities in REAG/Arandu’s management of the Arena.

On Thursday, the Banco Central do Brasil ordered the company’s extrajudicial liquidation for serious rule breaches. It will continue measures that could bring administrative sanctions, and the assets of controllers and ex-managers have been frozen by law.

The fallout has extended beyond the stadium. Corinthians moved to end licensing at three fuel stations in São Paulo’s East Zone, and the Coletivo Família Corinthians, 217 members, requested immediate termination of the REAG/Arandu deal.

With Caixa’s analysis concluded, Corinthians should now formalise with REAG the transfer to a new administrative manager and appoint a new manager for the operational funds.

Source: Meu Timao