August 17, 2022

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Corinthians reports revenue increase, but closes September with first deficit of 2021

Corinthians reports revenue increase, but closes September with first deficit of 2021

Corinthians posted its first deficit in 2021 in the balance sheet which takes into account until September of this year. In general, the club saw the end of the training period with Negative balance of 532 thousand Brazilian riyals Indebtedness increased by 15 million Brazilian riyals compared to June, to reach 994 million Brazilian riyals.

the rudder He had access to the balance sheet which should be posted on the official Corinthians website this Tuesday. Despite the negative figure, the club offers reasonable stability throughout 2021, always ranging between a surplus or a deficit of one million Brazilian reals. The club is seeking this “break-even point” for 2021 and wants to start presenting stronger surpluses from 2022 onwards.

Operationally, the result was good: In football, there was a surplus of R$34 million even not counting box office revenue – The first match with the audience was in October and it is not included in the balance sheet.

Some of the highlights:

  • Collection of 78 million Brazilian riyals from sponsorship contracts, R$11 million more than budget expectations;
  • 189 million Brazilian riyals from broadcast rights revenue, 20 million BRL more than the previous budget;
  • Even without counting box office games, total revenue increased by R$ 68 million compared to the same period last year;
  • 14.02 million Brazilian reals revenue from federal transfers, 172 million reais less than last year and 24 million reais less than the budget in January.
  • 28 million Brazilian riyals with licensing and franchising in amateur sports, the best figure in the sector, with the total value last year nearly tripling – R$10 million.
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On the expense side, there are four other highlights:

  1. The cost of acquiring athletes in 2021 is still zero. Even when calculating the arrival of Carlos Miguel, Giuliano, Joao Pedro, Renato Augusto, Roger Geddes and Willian, there are no values ​​recorded there. In 2020, Corinthians spent just over 63 million R$ in the same sector;
  2. spending on individuals From 136 million Rls in September of last year to 156 million Rls At the same time this year, a figure that mainly records the salary expenditures of athletes – and employees – for football.
  3. 27.9 million Brazilian Real In staff expenses at the amateur club, more than the total recorded in 2020, even with three months left on the balance sheet.
  4. 19 million Brazilian riyals less difference between budget and achieved with athletes’ image rights Only 3 million Brazilian riyals were deducted from the treasury, compared to an expected 22 million Brazilian riyals.

This balance already takes into account the arrival of reinforcements, which explains the increased spending on football – Although expectations are for the year to close with lower pay scales than in 2020. right on time: Corinthians ended 2020 with a deficit of R$123 million.

See more at: Corinthians Board of Directors.