Corinthians releases balance sheet for the first half with more than R$300,000 in surplus

Corinthians published this Wednesday night the balance sheet figures for the club’s first semester under the presidency of Duilio Monteiro Alves. Following the positive results of the two months presented above, the first six months ended with a financial surplus of R$394,000.

In addition to the operating value in azul, the club also disclosed an operating surplus of R$ 25.7 million. The number refers to income and expenses, but does not consider the financial cost of indebtedness.

Among the values ​​that grew the most are the revenue from broadcasting rights, which grew by more than R$30 million since April, and the revenue from sponsorships, which increased by more than R$15 million in the same period.

Some relevant balance sheet values:

  • R$33.8 million in surplus from the football department, with an increase of R$ 1.8 million between April and June;
  • R$145.4 million in revenue from transmission rights, being an increase of R$32.4 million between April and June;
  • BRL 46.8 million in sponsorship revenue, being an increase of R$ 15.8 million between April and June;
  • BRL 14.9 million in revenue from transfers of federative rights, with an increase of R$3.9 million between April and June;

As it has been for some time, the social club was responsible for reducing the positive values ​​in the period. While football ended with the BRL 33 million mentioned above, the social club recorded a deficit of R$33,497.

“The balance sheet shows the results of our work proposal, since we took over in January: implementing responsible and transparent financial management, balancing accounts, renegotiating debts, structuring the club to bring in new revenue, being able to return to investment and have sustainable growth Corinthians,” President Duilio said about the positive numbers.

Also according to the club, the results of the first semester took longer to be public knowledge, as they were evaluated according to the “new implemented procedures”. The document adds that “Corinthians, with responsibility and assertiveness, can return to investing in the second half of the year.”

Despite the positive first half, Corinthians is still in a financial situation that attracts attention. The club suffers from a series of judicial blockades for old debts. The fact even generated a complaint on the part of Duilio Monteiro Alves, who explained that this has even harmed the payment of players’ salaries. The professional cast has not yet received the payment for July, while the youth at the base are still late in receiving the allowance.

The expectation, then, is to guarantee more money by selling players. The club president revealed that he expects up to R$100 million in sales this year. The closest name to helping this goal is Raul Gustavo. The defender should be sold to Bordeaux, France.

In time: Corinthians ended 2020 with a deficit of R$ 123 million.

See more at: Corinthians and Dulio Monteiro Alves Board of Directors.