Corinthians meet Caixa to discuss refinancing Arena interest rates | OneFootball

The board of Corinthians had a meeting with executives from Caixa Econômica Federal last Monday to renegotiate the interest rate for the financing of the Neo Química Arena.

The club has not yet submitted a proposal, but has expressed a desire to change the current agreement. The Timão's directors believe that the current contract is detrimental due to the high interest rate.

Corinthians' goal is to reduce the rate by almost half. The current agreement adopts the Selic+2% rate, totaling almost 18%. Timão wants to change the contract to a model tied to the IPCA (Broad National Consumer Price Index), which would reduce the numbers to 9%.

The information was initially published by Meu Timão and confirmed by Gazeta Esportiva.

(Photo: Evander Portilho/Corinthians Agency)

Debt for the Neo Química Arena

Currently, Corinthians' debt for the construction of the Neo Química Arena is estimated at R$ 675 million.

The debt already exceeded R$ 700 million, but fell thanks to the 'crowdfunding' established by Gaviões da Fiel, the club's main organized fan base. The project has already raised more than R$ 40 million.

Recently, the president of Corinthians' Deliberative Council, Romeu Tuma Júnior, caused controversy by suggesting in a recent press conference that the club suspend payments until an agreement with Caixa was reached. However, the board led by Osmar Stabile, does not intend to take any action without the financial institution's consent.

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