Corinthians regularizes base expenses and works to settle outstanding issues with professional and female squads

- By Mirella Ramos / Central do Timão Editorial

Corinthians paid, last Monday (29), the subsistence allowance intended for athletes in the youth categories. According to the GE, the transfer regularizes one of the club's financial issues, while the board continues to seek resources to pay off the image rights of the male and female professional squads.

Salaries registered in the portfolio continue to be paid normally. However, the values relating to image rights still await regularization. The internal expectation is that these payments will be made by the fifth business day of July.

Photos: Rodrigo Gazzanel / Agência Corinthians
The subsistence allowance allocated to base players has the main purpose of assisting athletes with travel expenses and participation in daily training activities.

Corinthians' financial situation continues to be one of the main challenges of the current management. With cash flow difficulties, the club is looking for alternatives to balance its accounts during the season.

Among the planned strategies is the next transfer window, which will open on July 20th. The board works with the goal of raising around 25 million euros (approximately R$ 148 million at current prices) through the sale of players.

The financial scenario was highlighted in the latest statements released by the club. Currently, Corinthians' gross debt is around R$2.7 billion. Furthermore, the financial statement for the first four months of the year showed a deficit of R$168 million, a value higher than that projected in the budget approved for the season.

While seeking to reduce the financial impact, the board maintains as a priority the regularization of outstanding commitments with athletes from the men's and women's squads in the coming days.

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Source: Timao Central