Judge ‘orders’ Corinthians to explain RCE revenue gap | OneFootball

Judge Guilherme Cavalcance Lamêgo, who oversees Corinthians’ Regime Centralizado de Execuções in the 2nd Bankruptcy and Judicial Recovery Court of the São Paulo Court of Justice, has ordered the club to explain discrepancies in its February revenue calculation and warned of possible court oversight.

According to Voz da Arquibancada FC, the court acted after Laspro, the judicial administrator, flagged inconsistencies in figures used to determine the March instalment under the regime.

Corinthians told the court the base for March payments was R$ 64.2 million, yet club data showed total February revenues of R$ 213.4 million, a difference of R$ 149.2 million.

The club counted R$ 64.2 million from sponsorship R$ 23.8 million, broadcasting rights R$ 14.1 million, matchday R$ 7 million, social club R$ 4.6 million, advertising R$ 4.3 million, membership R$ 4.3 million, Arena R$ 2.4 million, other receipts R$ 2 million, and royalties and licensing R$ 1.4 million.

The excluded R$ 149.2 million comprised financial operations R$ 76.9 million, transfer R$ 65.5 million, and player negotiation R$ 6.8 million.

The judge cautioned that withholding documents or submitting inconsistent revenue declarations could lead to the appointment of a judicial observer or interventor to safeguard the process.

Creditors, including Link Assessoria of André Cury and Pix Star, backer of former sponsor Pixbet, protested aspects of the payment plan and allocation. They sought suspension of the regime, but the court instead summoned other creditors, Laspro and the Public Prosecutor’s Office to respond.

Laspro noted RCE-linked judicial accounts held about R$ 20.642 million for proportional distribution among creditors. It did not allege fraud, asking only for explanations, and added that if the disputed revenues relate to player sales they should fund reverse auctions, a non-recurring mechanism provided for under the regime.

Source: Meu Timao