Corinthians council approves 2025 budget review in quiet meeting | OneFootball

In a meeting marked by high absenteeism, with only 136 members present, the Corinthians Deliberative Council unanimously approved, on the night of this Monday (6), the proposal for budget revision for the 2025 fiscal year, which foresees an increase of R$ 174 million in the club's expenses compared to the budget originally approved at the end of 2024. With the revision, the total projected expenses rise from R$ 554 million to R$ 727.7 million.

The new proposal had already received favorable opinions from the Fiscal Council and the Advisory Council (CORI) before being submitted to a vote. The text was prepared by the current administration, under the leadership of President Osmar Stabile, who took over in May this year after the impeachment of Augusto Melo.

Photo: José Manoel Idalgo/Agência Corinthians

The original budget, drafted during the previous administration, was deemed incompatible with the current financial reality of the club. Thus, Stabile's economic team and the new financial director identified the need for an immediate revision to adjust the forecasts to a more conservative scenario.

According to the approved document, Corinthians projects to end the year 2025 with a deficit of R$ 83.3 million, resulting from a drop in total revenue and a significant increase in operational expenses, especially in the payroll.

Personnel expenses rise by 42%

The biggest impact of the revision is on personnel expenses, which include salaries, image rights, and labor charges. The initially estimated amount of R$ 345.8 million was adjusted to R$ 492.7 million, an increase of 42% compared to the previous forecast.

Among the justifications presented by the board are contracts signed before the management change, accumulated charges, and salary updates that were not included in the original budget piece.

Drop in revenues and more cautious projection

In addition to the increase in expenses, the new forecast also reflects a drop in gross revenues, which decrease from R$ 798.7 million to R$ 739.3 million. The main reductions are in the following sources:

Broadcasting rights: from R$ 339.8 million to R$ 332.5 million;

Sponsorships: from R$ 211.6 million to R$ 174.4 million (a drop of 17.5%);

Player transfers: from R$ 240.6 million to R$ 88.6 million (a reduction of 63.2%).

Councilors request reanalysis

Before the vote, a group of councilors and associates submitted a request to the presidency of the Deliberative Council, asking for the budget revision to be urgently reanalyzed. The request, submitted last Friday (3), was signed by Roque Citadini, Yun Ki Lee, Fernando Perino, Wilson Canhedo Jr., Marcelo Mandel, and Cyrillo Cavalheiro Neto.

The group proposed that, in addition to the options of approval or rejection of the text, the possibility of a detailed reanalysis of the numbers be included, through a specific commission that would work together with the Strategic Planning and Financial Restructuring Committee, aiming to review the budget documents, identify opportunities for cuts, renegotiate contracts, and optimize the club's financial structure.

At the meeting, the CD president accepted the request and allowed the proposal to be explained to the other councilors, being put to a vote subsequently. However, only 26 members of the body expressed support for the measure, which ended up being rejected.

Known absences and CORI's recommendation

Councilors heard by the Central do Timão were surprised by the quorum of the meeting this Monday, considered extremely low – only 45% of the body's members were present at Parque São Jorge. Among the most notable absences were known members of slates 10 (Renewal and Transparency) and 22 (Black and White), such as former presidents Andrés Sanchez, Duilio Monteiro Alves, and Roberto de Andrade, and former director André Luiz de Oliveira, known as André Negão.

Another issue that drew attention during the meeting was the emphasis on an item mentioned by CORI: the need for audit monitoring in the club's budget executions, something that has not been occurring in recent months. The fiscal body's recommendation now is that, every three months, the audit contracted by the club should report on the club's accounts.

Check out Corinthians' statement on the vote:

“The Presidency of the Deliberative Council of Sport Club Corinthians Paulista informs that the revision of the budget forecast for the 2025 fiscal year – presented by the current Executive Board of the club – was approved by acclamation at the extraordinary CD meeting held on the night of this Monday (6).

Even with the absence of votes for rejection, 26 Councilors registered their intention for the budget revision to be sent for reanalysis. The vote was attended by 136 Councilors at the Corinthians Theater, in Parque São Jorge.

The revision of the budget forecast for the 2025 fiscal year projects a deficit of R$ 83 million (instead of the surplus of R$ 34 million stipulated at the end of 2024) and had opinions from CORI and the Fiscal Council recommending approval – CORI, in particular, recommended audit monitoring at least quarterly.”

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