Corinthians strike deal with PGFN to renegotiate R$ 1.2 billion tax debt | OneFootball

Corinthians has reached an agreement with the Office of the Attorney General of the National Treasury (PGFN) to regularize federal debts accumulated over nearly two decades. The debt, originally estimated at around R$ 1.2 billion, was renegotiated to approximately R$ 679 million, after a 46.6% discount on interest, fines, and legal charges was granted. The information, initially reported by SBT News, was confirmed by the National Treasury in an official statement.

The amount includes non-social security taxes, social security contributions, and debts related to the Severance Indemnity Fund (FGTS), all under federal jurisdiction. The negotiation does not cover municipal taxes, whose debt was renegotiated by the club in a specific agreement concluded in 2024.

Photo: José Manoel Idalgo/Agência Corinthians

Under the agreement, non-social security debts will be settled in up to 120 monthly installments, while social security obligations will have a 60-month term. Credits linked to the social contribution provided for in Complementary Law No. 110/2001 will be paid in full, with a 70% discount. In the case of the FGTS, Corinthians adhered to the modality offered by Caixa Econômica Federal, which provides for a discount of over 30% and installment payments in up to 60 times.

As a counterpart to the installment plan and the benefits granted, the club presented guarantees that can only be activated in case of non-compliance with the agreement. Among them are funds from Timemania, a federal lottery program linked to sports financing, and Parque São Jorge, the social headquarters of Corinthians, valued at around R$ 602 million.

The transaction also imposes on the club the obligation to maintain full fiscal regularity from now on, a condition that will be monitored by the PGFN throughout the entire duration of the agreement. Compliance with this requirement gains additional weight in light of the new financial fair play rules of the Brazilian Football Confederation (CBF), which now include tax delinquency as a factor for sports penalties. Non-compliance can result in progressive sanctions, such as restrictions on player registration, point deductions, and even division relegation.

The conclusion of the negotiation was not a surprise behind the scenes at Parque São Jorge. The strategy to equalize the federal liabilities had already been presented previously in the context of the club's budget discussion at the end of the last fiscal year. According to the data presented at the time, even after the transaction with the Union, Corinthians' overall indebtedness is expected to remain estimated at around R$ 2.6 billion, considering fiscal, financial, and operational obligations.

With the formalization of the agreement, Corinthians averts, at least in the short and medium term, institutional and sports risks arising from tax delinquency and begins to operate under a defined schedule for the amortization of its liabilities with the Union.

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