Corinthians close to replacing Neo Química Arena debt fund manager | OneFootball

Corinthians have moved towards an agreement with Caixa Econômica Federal to replace the manager of the fund that oversees the Neo Química Arena debt, with the new manager not yet disclosed.

The club said in a statement that discussions with Caixa began in August 2025, after the Carbono Oculto operation, to reassess Reag, now called Arandu, as the stadium's administrator. Following an internal review, it proposed potential replacements and will file a formal request to transfer the fund's administration in the coming days.

Reag is a target of an operation that investigates possible fraud, financial crimes and money laundering in the fuel sector, with links to the Primeiro Comando da Capital (PCC). On Thursday, the Banco Central ordered its extrajudicial liquidation, ending operations immediately. Talks between Corinthians and Caixa had already begun before that decision.

Reag took over management of the fund in 2022, after a renegotiation signed by former president Duilio Monteiro Alves. Corinthians owe R$ 655 million on the stadium financing, within a total club debt of R$ 2.7 billion.

On 6 January, the Ministério Público do Estado de São Paulo asked the Polícia Federal to investigate Reag's appointment and conduct as manager of the stadium debt fund. Cássio Conserino sent an official request to the Superintendência de São Paulo da PF seeking the opening of a police inquiry into the appointment and its actions.

Source: Globo.com