Corinthians Deliberative Council approves new agreement with Caixa for Arena

The members of the Deliberative Council of the Corinthians unanimously approved the club’s new agreement with Caixa Econômica Federal, on Monday night, in Parque São Jorge, to settle the loan acquired from BNDES for the construction of the alvinegro stadium.

A presentation was made by Timão’s financial department and all board members approved the new proposal.

Last Monday, members of the club’s Guidance Council (Cori) reviewed the terms of the new agreement and approval was imminent.

As determined by Sports Gazettethe total amount of the debt with Caixa, updated until January 2022, was fixed at R$ 611 million, with a financing term until 2041. It is worth remembering that the loan contracted by the club with the bank was R$ 400 million, in 2013.

In this new agreement, interest payments will take place from 2023, going until 2024 (in the current one, it would be at the end of 2022), while the principal amortization, with quarterly installments, will only happen from 2025.

Finally, as was already known, 100% of the sale of the Arena’s naming rights is to pay Caixa, that is, the money does not even pass through the club.

the sale of naming rights for Hypera Pharma it was in the total amount of R$ 300 million, with installments of R$ 15 million per year, always adjusted by the IGP-M.

That is, with the debt amount fixed at R$611 million, if the R$300 million from the sale of naming rights is deducted, Corinthians has a debt, therefore, of R$311 million, in the updated value.

The club contracted a debt with Caixa Econômica through the Arena Itaquera S/A fund, which manages Neo Química Arena, for the construction of the stadium in 2013.

Since then, the club has been trying to reach agreements to, among other things, extend the grace period for payment of the financing.

Check out the statement released by the club:

Sport Club Corinthians Paulista informs that, unanimously, the members of its Deliberative Council approved the terms of the agreement between the club and Caixa Econômica Federal, in a meeting held this Monday (27), at the headquarters of Parque São Jorge.

The agreement is intended to settle pending issues related to financing for the construction of Neo Química Arena.

Yours sincerely,
Sport Club Corinthians Paulista.

Odebrecht’s Situation

Corinthians has an agreement with Odebrecht and understands that it won’t have to pay anything else to the company that built the black-and-white house.

The ratification of this treaty has not yet been announced because the court-supervised reorganization meeting of Odebrecht Participações e Investimentos (OPI) remains suspended. This meeting with the company’s shareholders is crucial for the agreement to be signed.

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