July 1, 2022

The Catholic Transcript

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Understand how Corinthians intend to pay the refinancing with Caixa

Understand how Corinthians intend to pay the refinancing with Caixa

In accordance with the agreement signed with Caixa and recommended by Cori (the Steering Board), Corinthians Debts of at least R$611 million will be paid to the bank in two phases.

In the first, between 2023 and 2025, interest on the operation will be paid. In the second, starting from 2025, the principal amount is paid in quarterly installments. Payment should be made by 2041.

Revenue from the sale of the naming rights to Corinthians Square goes entirely to Neo QuĂ­mica towards repaying the debt. Money does not even pass through the black and white safe.

The amount of R$611 million refers to the debt that was updated up to January of this year. After going through Curie, last Monday (20), the Board of Deliberations will discuss the matter.

Despite the progress made, the agreement with Caixa, which terminates the bank’s collection in court, has not been signed and may still be subject to changes.

The disagreement with the bank dates back to 2019, after successive delays in installments indicating R$400 million financing provided by BNDES, through Caixa, for the construction of the stadium in Itaquera.

The bank has executed the contract demanding payment of the total debt. With the fine, the fee came to about R$536 million, in Caixa’s accounts. Corinthian viewer values.

Since November 2020, with Andres Sanchez continuing in the presidency, senior officials of Corinthians considered the agreement with Caixa to end the operation and put in place a new installment plan under better conditions for the club.

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The lawsuit has been filed against Arena Itaquera S/A, a company set up under the control of the Odebrecht and Corinthians to make the Corinthians Stadium viable.