Corinthians agree deal to reschedule €192m of tax debt

February 6 – To ease the financial crisis at the club, Corinthians have renegotiated and repackaged debts of R$1.2 billion (€192 million).

The Sao Paulo giants have sealed a tax transaction agreement with Brazil’s National Treasury Attorney General’s Office (PGFN) to settle long-running tax debts, including approximately R$1 billion (€160 million) in non-social security debts, R$200 million (€32 million) in social security liabilities and around R$15 million (€2.4 million) linked to FGTS (employee severance obligations).

Under the agreement, the club will pay R$679 million (€108 million) after securing a 46.6% discount on interest, fines and additional charges. The agreement concludes negotiations that began in 2024 and relates to liabilities accumulated over nearly two decades. The club has offered lottery proceeds and its Parque Sao Jorge stadium to Caixa Bank as security for the repayments.

According to the PGFN, the renegotiated amount will be paid in instalments, split by category. Non-social security debts will be settled over 120 monthly payments, while social security debts will be paid over 60 instalments.

With the longest schedule extending to ten years, Corinthians are expected to clear these debts within a decade. However, Corinthians, like the majority of Brazilian clubs have a long-held tradition of repackaging debts.

Corinthians have a total gross debt estimated at R$ 2.8 billion (€440 million), according to the latest balance sheet released by the club, from November 2025.

In a statement, Corinthians said it was awaiting a formal notification from the PGFN before presenting full details of the agreement.

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