Corinthians agree to court terms, outline impact of external debts

In partnership with

Central do Timão

·8 décembre 2025

Corinthians agree to court terms, outline impact of external debts

By Henrique Pereira / Central do Timão Editorial Team

Corinthians has submitted a new proposal under the Centralized Execution Regime (RCE) and accepted all the conditions imposed by the court to avoid interruption of the process, according to information from Uol Esporte. The revised document provides, for the first time, a detailed description of the weight of debts outside the regime and indicates that about 20% of the club’s annual revenue is already committed to these obligations.

The measure was taken after the judge of the 2nd Bankruptcy and Judicial Recovery Court of São Paulo rejected the previous version of the plan, although a deadline was granted for corrections. Among the requirements presented by the court were the submission of complete documentation, adjustments in revenue distribution, and clearer explanations regarding debts with Caixa Econômica Federal, installment taxes, and sports-related obligations.

Vidéos OneFootball

Photo: Rodrigo Coca/Ag. Corinthians

In the response sent to the judiciary, the club emphasized that the percentage allocated to the RCE ends up being absorbed by other debts outside the regime. This includes payments related to the financing of Neo Química Arena, amounts in installments with the tax authorities, and agreements made with the National Chamber of Dispute Resolution (CNRD).

Based on an estimated annual revenue of R$ 1 billion, Corinthians reported that these obligations total approximately R$ 200 million per year, which represents 20% of all revenue. In the adjusted plan, the club commits to transferring at least 4% of monthly revenue in the first year after approval. This percentage would rise to 5% in the second year and reach 6% from the third year onward, always with periodic validation by the judicial administrator and approval by the responsible judge.

The general structure of the plan was maintained, providing for the payment of 60% of the debts in the first six years and the settlement of the remainder in the following four years. The judiciary had already considered the format legal, despite objections raised by some creditors. To comply with court determinations, the club made additional adjustments: it eliminated the category of so-called “partner creditors,” kept the “adhering creditors” with correction by the IPCA, and reduced the reverse auction period to 30 days, establishing clearer rules for early payments with discounts.

When presenting the figures, Corinthians acknowledged that it operates with reduced financial margins, even while maintaining high revenues. The club argued that, without flexibility in the percentage allocated to the RCE, there would be a risk to cash flow balance and to meeting other simultaneous obligations. Thus, the board requests the approval of the revised plan and awaits the new opinion from the judicial administrator, an essential step for the continuation of the regime.

See more: