Corinthians has a surplus of R$394,000 in the first half of 2021

In a financial balance sheet released this Wednesday night, Corinthians presented a surplus of R$394,000. According to Timão, the document was approved by the Supervisory Board and the Advisory Board, but it took longer to be published due to the new procedures implemented in the inspection.

In addition to the financial surplus, the Parque São Jorge club also had an operating surplus (results referring to income and expenses, without considering the financial cost of indebtedness) of R$ 25.7 million from January to June. With football alone, R$ 200.1 million in revenue and R$ 33.8 million in surplus.

The financial results for the first half of 2021 were considered positive and allowed the club to invest again. Only in the second half of the year, Timão agreed to hire Giuliano and Renato Augusto, who were free on the market. Corinthians, however, admits to having suffered falls in revenue between May and June, as some were pledged.

“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 new revenues, being able to return to invest and have sustainable growth of Corinthians,” President Duílio Monteiro Alves told the Corinthians website.

“Our planning for this first year is based on intelligent and transparent results management to go through this challenging moment, having the construction and implementation of compliance processes as a consolidator of this new management model”, he added.

The salary delay of players in August does not appear in the balance sheet, which refers to the first semester. Corinthians also has disputes with the base, has not paid the FGTS for two years and against up to R$ 100 million in athlete sales in 2021.

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