RCE report flags advances hitting Corinthians cash, warns on March data | OneFootball

Laspro Consultores, the court-appointed administrator of Corinthians’ Centralized Enforcement Regime (RCE), submitted a new monitoring report on the payment plan to the Judiciary, with a detailed analysis of the club’s financial movements in February and March 2026. The document validates the criteria adopted in calculating February’s revenues, but draws attention to the weight of financial transactions in cash flow and, above all, makes an express reservation regarding the reliability of the information related to March.

One section of the report, which Central do Timão had access to, concerns the composition of the club’s financial inflows. The administrator highlights that a significant portion of the recorded amounts does not correspond to operating revenue, but rather to advances and credit transactions, which directly impacts the calculation of the amounts allocated to the RCE. Among the main examples are:

Photo: José Manoel Idalgo/Agência Corinthians

Although these amounts were recorded in the cash flow and properly identified in bank statements, they were classified as financial transactions. The analysis points out that such amounts are debt in nature — not revenue — since they stem from advances and loans, directly increasing the club’s liabilities. In light of this, the court-appointed administrator deemed it appropriate to exclude these sums from the regime’s calculation base.

This finding helps clarify the difference between the total volume moved by Corinthians in February, R$ 213.4 million, and the revenue effectively considered for purposes of calculating the RCE, set at R$ 64.2 million. According to the report, the R$ 149.2 million discrepancy is largely explained by the removal of amounts that are not recurring operating revenue, such as financial transactions, internal transfers, and revenue tied to player transfers.

At the end of March, the Court even warned Corinthians about the possibility of appointing a judicial intervenor, after Laspro pointed out the nearly R$ 150 million difference in February revenues. Now, however, the administrator has concluded that the criteria adopted by the club comply with accounting standards and the accrual basis, ruling out the possibility of inconsistencies in the calculation.

Still regarding the month of February, the document acknowledges that revenue from player sales should not make up the main RCE calculation base, but notes that part of these resources must follow the specific allocation provided for in the plan. In this context, the obligation to direct R$ 1.36 million, equivalent to 20% of these inflows, to the reverse auction mechanism was pointed out.

As for March, Corinthians reported current revenue of R$ 66.3 million and indicated the transfer of R$ 2.65 million to the RCE, corresponding to the 4% rate. Laspro states that, from a mathematical standpoint, the calculations are correct and follow the established methodology. However, the analysis encounters an important limitation, emphatically highlighted in the report’s conclusion.

This is because the March data was presented without the support of essential documents, such as bank statements, accounting trial balances, and detailed proof of financial transactions. In the absence of these documents, the administrator stresses that the assessment is based exclusively on declaratory information from the club, which prevents substantial validation of the figures.

The document is categorical in stating that this limitation compromises the full reliability of the information and that, if the documentation is presented later, adjustments, revisions, and offsets may be necessary in subsequent reports. The reservation, highlighted in item 38 of the conclusions, places the month of March under monitoring and makes its final validation conditional on documentary proof.

In view of this, Laspro is asking the Court to order Corinthians to prove payment of the February and March apportionments, as well as to present, within 48 hours, a detailed list of the amounts deposited in the judicial account, identifying the creditors and their bank details, or proof of any suspensive effect in an ongoing appeal. If the bank details have not been provided, the club must at least indicate the case numbers and the competent courts, in order to enable the proper allocation of the amounts. Finally, the administrator attaches the updated list of creditors subject to the RCE, with the respective amounts owed.

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