Corinthians chiefs head to Brasília over Neo Química Arena debt | OneFootball

Corinthians has taken another step in the negotiations involving the financing of Neo Química Arena. Club representatives were in Brasília last Tuesday (22) for a meeting with members of Caixa Econômica Federal, while the board seeks to change the terms of the debt related to the stadium’s construction.

The black-and-white delegation included president Osmar Stabile and legal director Pedro Soares. The information was reported by UOL, which also noted that Corinthians is in contact with the Office of the Attorney General of Brazil (AGU) to help structure a possible renegotiation with the state-owned bank.

Photo: Disclosure/Corinthians

Internally, according to the report, there is expectation of progress. Recent talks are viewed by the board as positive, especially because they clarified issues considered important before formalizing any possible new agreement. The negotiation, however, is still not concluded.

Corinthians seeks AGU involvement in the talks

The move toward the AGU is part of a strategy adopted by Corinthians to find an alternative for the Arena financing. At the beginning of September, the club sent an official letter to the agency requesting assistance in the negotiations with Caixa.

The intention is to have the Office of the Attorney General of Brazil take part in the discussion of the legal and financial terms before any possible contract revision. Since the document was sent, Corinthians representatives have held talks with the federal body.

The matter is also part of a broader discussion about the growth of the debt. The São Paulo Public Prosecutor’s Office ordered this month that its technical department recalculate figures related to the financing to verify questions raised in a study submitted to the agency. The measure does not mean that the Prosecutor’s Office has recognized any error in the charges or established a new outstanding balance for the debt.

Changing the interest rate is one of the goals

One of the main points defended by Corinthians in its attempt to renegotiate involves the index used to calculate interest.

After the agreement signed with Caixa during Duílio Monteiro Alves’s administration, the financing adjustment became linked to the Interbank Deposit Certificate (CDI). Now, the board is working to try to replace that criterion with the Long-Term Rate (TLP), used in financing from the Brazilian Development Bank (BNDES).

In the club’s view, the change could reduce the impact of interest on the outstanding balance over the life of the financing. The change, however, depends on negotiation and has not yet been agreed with Caixa.

Discussion about the Arena’s figures has gained momentum in recent weeks. Corinthians’ financial statement for the first half of 2026 recorded R$ 630 million related to Neo Química Arena, within a total debt of approximately R$ 2.8 billion.

Board awaits progress in the talks

Despite the positive assessment of the contacts made so far, the board understands that the negotiation has different legal and financial issues to be resolved before any new agreement.

The trip by Osmar Stabile and Pedro Soares to Brasília therefore represents a new stage in the efforts that began at the start of September, when Corinthians formally requested AGU participation.

For now, there is no new agreement in place nor any official change in the financing conditions. The club will continue negotiating with Caixa and seeking AGU involvement in an attempt to find a different structure for paying off the Neo Química Arena debt.

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