Corinthians and the R$ 27 million from Caixa: What’s coming next?

Corinthians has finally received R$ 27 million from Caixa Econômica Federal, an amount that was sitting in the famous “reserve account” and relates to the annual payment for the Neo Química Arena.

What does this mean?

According to an exclusive source from the column, Corinthians had been chasing this money with the state-owned company, and it seems the wait was worth it. Part of that cash has already been allocated to the team, helping settle the CLT payments they were set to pay today. Nice, right?

• When does the money hit the account?
  The payment to the players should be credited to their accounts this Thursday. But we can’t forget that there is still one month of image rights in arrears to be paid.

• And the debts?
  Even with this inflow of money, the club still owes one month of image payments to the athletes. The situation is complicated, but Corinthians is doing everything it can to get everything regularized.

What’s ahead?

In addition, Corinthians is getting ready to sign the “locking” of all Caixa guarantees related to the Arena payment. That means the quarterly installments are also part of this!

And it doesn’t stop there! The club is negotiating to secure the naming rights for the Arena with Caixa, with the aim of settling these pending issues. The expectation is that this will be finalized shortly after the second-round elections for the presidency of Brazil, or by 31 December.

Stay tuned for more updates on this Corinthians saga!