Ex-president involved as Corinthians negotiate Arena debt with Caixa

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Central do Timão

·24 September 2025

Ex-president involved as Corinthians negotiate Arena debt with Caixa

By Henrique Pereira / Central do Timão Editorial Team

The former president of Corinthians, Andrés Sanchez, took part in the meeting held last Monday, the 22nd, between the club and Caixa Econômica Federal, in São Paulo, to discuss the renegotiation of the debt related to the Neo Química Arena. The director's presence was initially revealed by journalist Pedro Ramiro.

Currently a lifetime advisor, Andrés represented Corinthians alongside president Osmar Stabile. Vicente Cândido, former club director and former federal deputy, was also present. On Caixa's side, the institution's president, Carlos Antônio Fernandes, attended, accompanied by two other bank representatives.

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Photo: Rodrigo Coca/Ag. Corinthians

On the agenda, Timão sought to negotiate a reduction in the debt charges, currently estimated at approximately R$ 675.2 million (according to the June balance sheet). Currently, payments are adjusted by the Selic rate + 2%, which represents about 18% per year. The club's proposal is to switch to a model linked to the IPCA, which could cut costs almost in half, to around 9% annually.

Even though he does not currently hold a managerial position, Andrés maintains a seat on the Advisory Council (Cori) as an ex officio member. He was the one who led the construction of the arena and, in his second term, closed the naming rights deal. However, he was not involved in the renegotiation contract for the installments signed in 2022, during Duilio Monteiro Alves’ administration.

Although he has been out of the presidency since 2020, Andrés remains active behind the scenes at the club. He is under investigation by the São Paulo Public Prosecutor's Office (MP-SP), which is investigating alleged irregularities in the use of Corinthians’ corporate cards by him and other former presidents, Duilio and Augusto Melo.

The suspicions arose after the profile @Prmalaoficial, on X (formerly Twitter), published invoices that would indicate personal expenses made with the club's card. Andrés admitted to about R$ 10,000, an amount he reimbursed with R$ 15,000, but new expenses — in Fernando de Noronha, Rio de Janeiro, and even in Spain — were also exposed. In July, Cori recommended the opening of an internal procedure, which is still under review by the club’s Justice Committee.

Corinthians president between 2007 and 2011 and again from 2018 to 2020, Andrés assumed the position of lifetime advisor after leaving office. Today, he serves as an ex officio member of Cori, the supervisory body provided for in the club's statutes.

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