Management details to Cori the renegotiation with Caixa; see values

The board of Corinthians presented this evening (20) to Cori (Council of Guidance) the details of the agreement that is being sewn with Caixa Econômica Federal in the renegotiation of the loan acquired for the construction of Neo Química Arena. The Parque São Jorge club must pay R$ 611 million and has until 2041 to settle the pending payment with the bank.

The meeting does not have a definitive character in the negotiation and the matter will still be discussed by the Deliberative Council on a date not yet announced. After the debate in the club’s bodies, the agreement with Caixa Econômica Federal tends to be signed – since the bank can also ask for changes to the contract before signing it.

The pending with the state bank dates back to 2019, when Corinthians delayed installments referring to the R$ 400 million financing made with BNDES, through Caixa, for the construction of its stadium. The bank performed the contract demanding payment of the total debt. With a fine, the charge reached about R$ 536 million, in Caixa’s accounts.

Corinthians contested the values. Since November 2020, with Andrés Sanchez still in the presidency, the Corinthians top hats have taken for granted the agreement with Caixa to end the process and establish a new installment plan under better conditions for the club.

Alvinegro’s plan is to use the money received from the sale of the naming rights to its arena and also from the box office income to pay the new installments agreed with Caixa. This year, Corinthians has raised over R$30 million from ticket sales for matches played in Itaquera.

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