Corinthians honour deal with Caixa, pay off 2025 instalments early

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Central do Timão

·7 January 2026

Corinthians honour deal with Caixa, pay off 2025 instalments early

By Henrique Pereira / Central do Timão Editorial Team

Corinthians has fulfilled all obligations related to the financing of the Neo Química Arena scheduled for the year 2025. Throughout the season, the club paid off the four quarterly installments of the agreement made with Caixa Econômica Federal, totaling an outlay of R$ 93 million, as reported by Meu Timão.

Internal sources confirm that the payments were made according to what was established in the contract. To complete the total amount, part of the prize money won by the women's team was allocated by Caixa, which allowed the club to fully clear the year's debts. As a result, the next installment of the financing is only due in March.

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Photo: Rodrigo Coca/Ag. Corinthians

Under the current contractual model, the Arena's debt is amortized in quarterly installments of variable amounts, currently between R$ 20 million and R$ 30 million. The amounts fluctuate according to the Selic rate and the updated outstanding balance, and the payment schedule extends until December 2041.

Even with all the 2025 installments paid, Caixa withheld about 50% of the more than R$ 68 million net received by Corinthians from winning the Copa do Brasil, an amount already discounted for taxes. This measure raised questions among fans, who speculated about possible outstanding debts with the bank.

The withholding, however, was directed to the so-called “security account,” a mechanism provided for in the contract. Under this agreement, part of the club’s revenue is automatically allocated to this financial reserve. During the account formation phase, 50% of sports prize money and 30% of amounts from player sales are withheld by Caixa to ensure future compliance with the Arena’s financing.

This linked account must permanently maintain a minimum balance corresponding to the value of four quarterly installments — currently between R$ 80 million and R$ 120 million, depending on the prevailing interest rate. The amount acts as a safety cushion, equivalent to approximately one year of debt amortization. If the balance falls below the stipulated level, it is automatically replenished through the withholding of other revenues, such as broadcast rights. The contract stipulates that maintaining this minimum amount is mandatory, under penalty of breach due to insufficient guarantees.

Meanwhile, Corinthians and Caixa continue negotiations to review the naming rights agreement for the Neo Química Arena. The parties are in dialogue to improve the current terms and have requested a valuation of the stadium and naming rights, which currently belong to Neo Química, a brand of Hypera Pharma. The study aims to provide the bank with greater security regarding the real value of the assets. Internally, the club believes the current contract is outdated, and the possibility of using the naming rights to reduce the debt is being considered, although it is just one of the alternatives under evaluation.

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