Grêmio hire EY, the firm that flagged financial gaps at Flamengo and Corinthians | OneFootball

Grêmio have hired Ernst & Young to conduct a thorough review of the club’s finances, vice-president Eduardo Schumacher said in a social media post. The term was not disclosed, and the brief includes sizing the debt and proposing remedies.

EY worked on Flamengo’s recovery from 2013 under Eduardo Bandeira de Mello, and in about four months identified a R$ 750.7 million deficit. The collaboration continued, and in 2020 Flamengo published 2019 accounts audited by EY, becoming the first Brazilian club certified by a Big Four firm, namely EY, Deloitte, PwC and KPMG.

EY were hired by Corinthians in 2024 at the start of Augusto Melo’s tenure on a three-year deal, but it ended after eight months due to disagreements. In October 2025, EY reported to Osmar Stabile’s administration that debt stood at R$ 2.2 billion in June 2024, rising to R$ 2.7 billion the following year.

Grêmio’s new board is pursuing fresh revenue, with talks ongoing over a main shirt sponsor, a ticketing and membership provider, and naming rights for the Arena.

The club are currently under a FIFA transfer ban after failing to pay R$ 7 million to Granada for Arezo’s 2024 move. December wages and the 13th salary are late.

Former president Alberto Guerra’s administration says debt is R$ 377 million, up R$ 220 million in three years, driven by bank borrowing, tax liabilities and loans from businessmen Celso Rigo and Marcelo Marques. A further R$ 123.7 million is owed to clubs for transfers, which the previous board treated separately as they left R$ 80 million to receive from sales.

On departure, Guerra cited R$ 241 million in potential short term income from sales, a new main sponsor and prize money and TV. The new board does not confirm those figures and says the pursuit of a betting sponsor worth R$ 53 million per year did not materialise.

Source: Globo.com