Corinthians offer would see Caixa ‘take over’ Arena naming rights to settle debt | OneFootball

Corinthians have submitted a formal offer to Caixa to address the Neo Química Arena debt, centred on allowing the bank to use the stadium’s naming rights in a settlement. According to Meu Timao, talks are ongoing after several meetings.

Last week, president Osmar Stabile, legal director Pedro Soares and cultural director Rafael Castilho visited the bank’s Brasília headquarters to discuss the plan. Club officials left encouraged, seeing scope for progress.

Caixa’s board is due to meet on Tuesday or Wednesday to examine the proposal. It is viewed as an important step, though no agreement is in place.

Under the offer, Caixa would exploit the Neo Química Arena naming rights, which currently belong to Hypera Pharma under a 2020 deal, with proceeds used to settle bank debt estimated at R$ 630 million. Other elements include possible capitalisation bonds, moving Corinthians’ banking to Caixa including payroll, and cards linked to the Fiel Torcedor scheme.

Corinthians have also asked Caixa to return R$ 27 million held in a reserve account created in the 2022 renegotiation, saying instalments are up to date and the funds would support day to day cash flow.

The arena liability is about 22.5% of the club’s total debt of R$ 2.7 billion. The 2022 agreement runs to December 2041 with two percent annual interest plus CDI variation, and the club began to reduce the principal from 2025.

Stabile’s administration treats settling the arena obligations as a priority to ease Corinthians’ financial strain, and views the Caixa talks as a way to lessen the debt’s impact.

Source: Meu Timao

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