São Paulo court demands Corinthians financial answers, warns of possible intervention | OneFootball

A São Paulo court has demanded financial explanations from Corinthians and warned that non-cooperation could lead to judicial intervention. The case concerns alleged inconsistencies under the club’s debt centralisation regime.

According to Globo.com, judge Guilherme Cavalcanti Lamego flagged discrepancies in the RCE and said the club underreported about R$ 149 million in February. Corinthians told the court its revenue base for the March instalment was R$ 64.2 million, while internal data showed R$ 213.4 million in February, a gap of R$ 149.2 million.

The court fears that, because instalments are tied to revenue, declaring lower takings could reduce debt repayments. The judge ordered the club to clarify the figures.

He also cautioned that refusing to provide documents or keeping inconsistencies could prompt the appointment of a judicial observer or an interventor to safeguard the process.

The decision was published on Wednesday by the Second Court of Bankruptcies and Judicial Recoveries. On Tuesday, club members filed a petition seeking intervention in the leadership, aiming to remove president Osmar Stabile and install an interventor.

Corinthians initially counted R$ 367 million of liabilities in the plan. With interest, adjustments and added creditors, the RCE now totals about R$ 450 million, roughly R$ 200 million already in enforcement.

The debts cover agents, suppliers and players’ image rights, excluding tax liabilities and the Neo Química Arena financing with Caixa Econômica Federal. The club has 10 years to pay, with four percent of recurring revenue in year one, five percent in year two and six percent from year three.

Source: Globo.com