Corinthians risk losing Union tax deal after missing three instalments | OneFootball

Corinthians have been notified by the PGFN over non-payment of the last three instalments of their agreement with the Union, leaving R$ 20,494,795.98 in arrears. The default puts the renegotiated tax deal at risk.

According to Blog do Macedo, the missed instalments cover June, July and August and include previdenciary and non-previdenciary debts.

Each previdenciary instalment is R$ 2,001,982.48, totalling R$ 6,005,947.44. Other debts are R$ 4,829,616.18 per instalment, R$ 14,488,848.54 in all. The arrears could rise by almost R$ 7 million if the 30 September payment is missed.

The club was formally warned in August after three consecutive defaults. Any rescission would strip the agreement’s benefits and reinstate the original debt without discounts, minus sums already paid.

The club is in contact with the body to avoid termination and has acknowledged the delays. It met payments from February to May.

In February the club secured a 46.6 per cent reduction on a R$ 1.2 billion liability through a tax transaction, leaving R$ 679 million to pay. Terms include 60 instalments for previdenciary debts, 120 for non-previdenciary, 60 for FGTS with a 30 per cent discount, and social contribution credits paid upfront with a 70 per cent discount.

Guarantees include Timemania receivables and Parque São Jorge, valued at R$ 602.2 million. The negotiation later sparked questions over 2025 accounts and a bid to impeach president Osmar Stabile, with the petition alleging the collateral offer of Parque São Jorge breached internal quorum and qualified majority rules.

Corinthians’ total debt is R$ 2.8 billion. The club posted an almost R$ 250 million first-half deficit and still owes two months of image rights to the men’s squad, plus Libertadores and Brasileirão bonuses.

Source: Meu Timao

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