Corinthians pay R$ 16.4m in five months of RCE, debt rises to R$ 237.4m | OneFootball

Corinthians said in a statement it has paid R$ 16.4 million in the first five months of its RCE (Regime Centralizado de Execuções), but the debt has risen to R$ 237.4 million due to interest.

The increase reflects Selic indexation and the addition of further sums owed to two creditors within the RCE list. Before payments began, the club put the RCE debt at R$ 190.8 million, and by the first instalment it had already reached R$ 227.9 million.

Agent Giuliano Bertolucci is the largest creditor at R$ 86.9 million, followed by RC Consultoria e Assessoria Esportiva Ltda at R$ 31.4 million and Talents Sports Ltda at R$ 24.5 million.

The court-approved plan covers ongoing civil cases with enforcement against the club. It comprises 40 lawsuits to be paid to 23 creditors. Tax liabilities and the Neo Química Arena financing with Caixa Econômica Federal are not included.

Corinthians have 10 years to settle the debts. Monthly instalments are progressive, set at 4% of recurring revenues in year one, 5% in year two and 6% from year three.

The RCE also spares the club from the repeated bank account freezes seen in recent years.

Source: Globo.com

“Artificial intelligence was used to assist in creating this article based on reporting from the original source quoted.”