Corinthians back associative model for financial overhaul while assessing SAF | OneFootball

Corinthians plan to pursue financial restructuring within their current associative model while continuing to assess a SAF route, with gross debt of R$ 2.723 billion.

According to Globo.com, a balance sent to the Fiscal Council and Cori says the board is tracking structural changes such as SAFs at major clubs but sees no need to switch in the short term.

The club lists its tax deal with the PGFN and the RCE as pillars of its reorganisation. It argues that, given ongoing measures, including the individual settlement with the PGFN, civil RCE approval and stronger revenues, it can regain financial sustainability under the current associative model without forming a SAF in the near term. The stance is reviewed regularly in line with market, regulatory and tax developments, and the club’s finances.

The PGFN transaction, signed in February, granted a 46.6% discount on a R$ 1.2 billion debt with the Union, cutting the bill to R$ 679 million. The estimated effect on total liabilities is R$ 217.428 million.

The RCE enables the suspension of several bank account blocks. The agreement, roughly R$ 450 million, consolidates sums owed to agents, suppliers and players, including image rights, to be paid over 10 years.

In early March, Romeu Tuma Júnior, then chair of the Deliberative Council, formed a specialist group to study a potential SAF conversion and alternatives such as judicial or out-of-court recovery. He appointed six members and gave them 60 days to produce a report outlining conclusions, scenarios, risks, opportunities and recommendations.

Source: Globo.com