Corinthians face new deficit in November 2025, debt hits R$2.8 billion | OneFootball

Corinthians accumulated a deficit of R$ 247.8 million in the first ten months of 2025, according to the financial statement for October released by the club this Tuesday. The gross debt, including the financing of the Neo Química Arena, increased and reached R$ 2.8 billion.

From January to November of last year, Timão recorded R$ 666.2 million in net operating revenue and an operating expense of R$ 715.2 million. The result, therefore, was a negative accounting EBITDA of R$ 48.9 million.

Accounting for the R$ 107.2 million obtained from the transfer of players’ federative rights, in addition to other revenues calculated at R$ 7.1 million, and also including other expenses estimated at R$ 313.2 million, the loss amounts to R$ 247.8 million. By October, the accumulated deficit was R$ 204.2 million.

The club’s total debt reached R$ 2.812 billion, of which R$ 2.151 billion are general liabilities and R$ 661 million relate to the financing of the Neo Química Arena.

(Photo: Rodrigo Coca/Agência Corinthians)

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Football expenses

In the football department, expenses remain high. The main point of concern was Personnel expenses, a category that includes salaries, image rights, and labor charges, which totaled R$ 415.5 million.

The operational result for the sector was a deficit of R$ 91.8 million. Including the transfer of athletes’ federative rights and other revenues, the loss was reduced to R$ 43.1 million. The Corinthians social club and amateur sports, in turn, recorded a deficit of R$ 204.7 million.

In the red

The result for this period represents almost triple the deficit initially projected for 2025. According to the budget review carried out by Osmar Stabile’s board, Corinthians expected to end the season with a loss of R$ 83.3 million.

However, in the budget for 2026, the financial board considerably increased the projected loss and estimated ending last year with a deficit of R$ 272 million, the worst result in Corinthians’ history. The full 2025 balance sheet, with detailed figures, will be released by the club by April this year.

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