Administrator challenges Corinthians over accounting gap in first RCE payment calculations | OneFootball

The court-appointed administrator of Corinthians’ Centralised Enforcement Regime has set out initial payment calculations and flagged an accounting discrepancy affecting the March instalment.

In a 35-page filing dated Wednesday, Laspro shared February figures and the allocation of R$ 20.264 million held in judicial RCE accounts, to be shared under equal treatment.

Using Selic at 18.4201% for the period, the R$ 190.8 million owed was updated to R$ 226 million. The judicial deposits would clear 8.96%, leaving R$ 205.8 million outstanding.

Laspro’s analysis found that Corinthians based the RCE calculation on monthly revenue limited to gross operating income. The club listed R$ 64.2 million as valid revenue for March, though total revenue in the period was R$ 213.4 million.

The R$ 64.2 million comprised sponsorships, broadcast rights, matchday, social club, advertising, membership, Arena, other receipts, and royalties and licensing. Excluded sums of R$ 149.2 million covered financial operations, transfer, and athlete negotiation receipts.

There was no allegation of distortion or fraud. The administrator asked the court to order the club to explain its categorisation and said that, if classed as player-sale income, such funds should feed reverse auctions for non-recurring proceeds.

Provisionally, using the R$ 64.2 million base and the 4% rule for year one, March’s instalment is R$ 2.568 million, to be split between creditors. Calculations may be revised and any change in the base would require paying the corrected difference.

Corinthians has not been formally notified and believes the figure reflects managerial cash to be reconciled with its accounting.

Source: Meu Timao