Corinthians ends March with a bigger deficit than first expected | OneFootball

Corinthians closed its March financial statement with a deficit of R$ 131.4 million, a figure far above the budget forecast approved at the end of last year, which estimated a negative result of R$ 36.5 million. The difference represents an increase of 258.9% compared to the amount initially projected.

According to the club, the main factor behind the poor financial performance was the decision not to negotiate player transfers during the first quarter of 2026. The board had expected to raise around R$ 75 million net from transfers by March, but chose to postpone sales in order to preserve the squad for the Conmebol Libertadores.

Photo: Disclosure/Corinthians

One example mentioned was Milan’s rejected offer for defensive midfielder André. On March 1, the Italian club offered 17 million euros — approximately R$ 103 million at the exchange rate at the time — for the player. Had the transfer gone through, Corinthians could have ended the period with a positive result.

In the internal report obtained by ge, president Osmar Stabile told members that the strategy was to push player negotiations to the mid-year transfer window. The board expects to raise around 25 million euros net, currently equivalent to R$ 144.1 million, from future transfers.

The document also points out that the management had to bring forward revenue expected for the rest of the season and renegotiate the extension of a loan to ensure cash flow and keep the club’s operations running.

According to the financial statement, Corinthians also argues that the deficit would have been much smaller if it had sold players at the start of the season and had not settled expenses considered extraordinary. These payments include installments from the Copa do Brasil prize money and taxes related to the debt with Santos Laguna of Mexico for the signing of center-back Félix Torres. Under those conditions, the negative result would fall to R$ 17.5 million, below the budget target.

Between January and March, the club recorded gross operating revenue of R$ 206.8 million. The largest share came from sponsorships, which brought in R$ 92.4 million. Broadcasting rights generated R$ 39.9 million, while ticket sales and the Fiel Torcedor membership program totaled R$ 39.1 million.

Operating expenses reached R$ 202 million during the period. The main expense was payroll and labor charges, which totaled R$ 149.2 million.

In addition, Corinthians spent R$ 38.6 million on non-recurring expenses related to the Copa do Brasil prize money and the debt involving Félix Torres. The club also recorded R$ 26.8 million in amortization of players’ economic rights.

Financial expenses, including interest, financing, and various charges, reached R$ 62.7 million in the quarter.

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