Corinthians overspend, post R$60m deficit in first half of year | OneFootball

On Thursday, the Corinthians presented the balance sheet for the first half of 2025. The period covers the administrations of Augusto Melo, the deposed president, and Osmar Stabile, who took over on an interim basis on May 26 and was definitively elected on August 25. The club recorded a deficit of R$ 60.2 million.

From January to June of this year, Timão spent more than budgeted. The club planned, at the beginning of the year, R$ 329.315 million in net expenses, but reached R$ 424.872 million.

The main factor for the increase is due to the costs with "Personnel", which includes players' and employees' salaries, image rights, labor charges, among others. Timão expected to spend R$ 219.195 million, but greatly exceeded the values, reaching R$ 298.615 million – R$ 79.4 million 'extra'.

The revenue, in turn, was within expectations. The team projected R$ 381.284 million in net revenues, not counting the sale of players, and collected R$ 380.406 million. However, with high operating expenses, of R$ 419.771 million, it suffered a deficit of R$ 60.227 million.

The initial budget, prepared still in the Augusto Melo administration, forecasted a surplus of R$ 2.349 million.

Football Accounts

The Corinthians football department had a surplus of R$ 35.862 million in the first half of this year. On the other hand, the social club and amateur sports recorded a deficit of R$ 96.089 million.

The club's operating result for the period, not counting player transactions, was a loss of R$ 39.365 million. With the sales of players, which brought R$ 73.659 million to Timão, the value changed to a surplus of R$ 34.294 million. Even so, the numbers were considerably distant from the R$ 122.909 million that were expected.

Debt Increase

The Corinthians' deficit in the first half of 2025 directly implied in the increase of the club's gross debt. According to the balance sheet released by Timão, the total debt, including the indebtedness of the Neo Química Arena, jumped from R$ 2.5 billion at the end of last year to R$ 2.6 billion in the first half of this year.

Corinthians' gross debt increased in the first half of 2025 (Photo: Reproduction)

It's worth mentioning that Corinthians took longer than expected to publish the balance sheets, mainly because the Board of Orientation (Cori) contested the numbers presented by Augusto Melo in the first two months of 2025.

In addition, the political turmoil in the backstage of Parque São Jorge, with a change of presidents, also impacted the delay.

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