Corinthians address Neo Química Arena fund after REAG settlement | OneFootball

On Friday (16), Corinthians released an official statement clarifying the developments involving the management of the Neo Química Arena real estate fund and the company REAG, which was subjected to extrajudicial liquidation decreed by the Central Bank on the morning of last Thursday (15).

In the statement, the club affirms that it began, as early as mid-August 2025, negotiations for the replacement of the fund’s administrator and manager, together with Caixa Econômica Federal, following the launch of Operation Hidden Carbon and the reassessment of regulatory risks related to REAG’s activities—therefore, before the extreme measure announced by the regulatory body. This information had already been anticipated by Central do Timão.

Photo: José Manoel Idalgo/Agência Corinthians

On Thursday, the Central Bank decreed the extrajudicial liquidation of CBSF Distribuidora de Títulos e Valores Mobiliários S.A., the new name of Reag Trust DTVM, a member of the REAG group. According to the Central Bank, the decision was motivated by serious violations of the rules of the National Financial System (SFN), including the identification of operations considered atypical and without economic backing in funds managed by the company between 2023 and 2024.

These funds were allegedly used in a scheme of accelerated circulation of resources originating from Banco Master loans to shell companies, with the subsequent return of the amounts to the bank itself through overvalued financial investments. Given the seriousness of the evidence, the Central Bank forwarded information to the Federal Public Prosecutor’s Office and ordered the freezing of assets belonging to the company’s controllers and former administrators.

Club says it followed compliance and governance procedures

In the statement released this Friday, Corinthians emphasizes that, committed to best governance practices, it conducted a rigorous process of compliance and due diligence in alignment with those responsible for managing Neo Química Arena. Once this stage was completed, the club officially submitted to Caixa Econômica Federal the nomination of potential new administrators and managers of the fund, a necessary condition for any replacement, as stipulated in the contract.

The statement also informs that Caixa Econômica Federal has recently completed the technical analysis of the proposed names. With this, Corinthians should formally request REAG to transfer management to the new administrative manager and to the new operational fund manager. However, the change still depends on approval from the Securities and Exchange Commission (CVM), the final stage of regulatory procedures.

“Sport Club Corinthians Paulista faces this new stage convinced that it has fulfilled all required procedures, preserving compliance, good governance, and the best institutional interests of the Club and Neo Química Arena,” the club states at the end of the note.

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