September 22, 2021

The Catholic Transcript

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Corinthians publishes the balance sheet for the first half with oversight

Corinthians publishes the balance sheet for the first half with oversight

On Wednesday night, Corinthians published the balance sheet figures for the club’s first term under the presidency of Duilio Monteiro Alves. After the positive results for the above two months, The first six months ended with a financial surplus of R$394,000.

In addition to the operating value at azul, the club also disclosed an operating surplus of R$25.7 million. The figure indicates income and expenses, but does not take into account the financial cost of indebtedness.

Among the values ​​that have grown the most are revenue from broadcasting rights, which has grown by more than R$ 30 million since April, and revenue from sponsorship, which has increased by more than R$ 15 million in the same period.

Some related balance sheet values:

  • 33.8 million Brazilian riyals surplus from the football departmentan increase of R$1.8 million between April and June;
  • R$ 145.4 million in revenue from transmission rights, An increase of R$32.4 million between April and June;
  • 46.8 million Brazilian reals from sponsorship revenue, An increase of R$15.8 million between April and June;
  • 14.9 million R$ in revenue from federal rights transfersan increase of R$ 3.9 million between April and June;

As some time ago, the social club was responsible for reducing the positive values ​​in this period. While football ended with 33 million Brazilian reals mentioned above, The Social Club recorded a deficit of R$33,497.

“The balance sheet shows the results of our business proposal, since we took charge in January: implementing responsible and transparent financial management, balancing accounts, renegotiating debt, structuring the club to generate new revenue, being able to return to investment and sustaining Corinthians’ growth,” President Duilio said of the figures. Positive.

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Also, according to the club, the results of the first semester took longer to be known to the public, as they were evaluated according to “new applicable procedures”. The document adds that “Corinthians, responsibly and firmly, can return to investing in the second half of the year.”

Despite the positive first half, Corinthians is still in a financial position that attracts attention. The club suffers from a series of judicial blockades of old debts. The truth even provoked a complaint by Duilio Monteiro AlvesWhich explained that this affected even the payment of salaries of players. The professional cast has yet to receive the July pay, while the youngsters at the base are still late in receiving the allowance.

The expectation, then, is to secure more money by selling players. Club president revealed Which anticipates sales of up to 100 million Brazilian riyals in this year. The name closest to achieving this goal is Raúl Gustavo. The defender should be sold to Bordeaux from France.

right on time: Corinthians ended 2020 with a deficit of R$123 million.

See more at: Corinthians Board of Directors and Dolio Montero Alves.