Report names Corinthians among the most valuable clubs in Brazilian football
- By Mirella Ramos / Central do Timão Editorial
Corinthians appears among the clubs with the highest market value in Brazilian football, according to the 17th edition of the Convocados Report, a study developed in partnership between Galapagos Capital and the consultancy Outfield. The survey estimates that the value of the black and white club is between R$1.5 billion and R$2 billion, a range that places it alongside São Paulo among the most valuable teams in the country.
According to the study, only Flamengo and Palmeiras have a valuation higher than the R$2 billion mark. The analysis considers various financial and operational indicators to estimate the value of clubs, taking into account aspects linked to revenue generation capacity and economic sustainability.
Photo: Rodrigo Coca / Ag. Corinthians
Among the main criteria used are recurring revenue, athlete trading, adjusted net equity and operating profit. Furthermore, factors such as audience presence in stadiums, fan engagement and efficiency in financial management also directly influence the final evaluation.
The report highlights that clubs with diversified revenues, greater potential for monetizing their fans and more balanced operational structures tend to achieve higher values. On the other hand, high levels of debt, high financial expenses and payrolls above the collection capacity negatively impact the valuation.
One of the positive points pointed out for Corinthians is the strength of their fans. The club received four stars in terms of average attendance at stadiums during the 2025 season. That year, the Neo Química Arena registered an average of 41,835 fans in 38 matches played, ranking among the best indices in national football. Only Flamengo obtained the maximum evaluation in this criterion.
The document, however, highlights that high crowd attendance is not enough, in itself, to determine the market value of an institution. According to those responsible for the study, the challenge is to transform this engagement into sustainable revenues and consistent financial results.
In other indicators, Corinthians received intermediate evaluations. Performance in recurring revenue and athlete sales was rated three stars, while financial efficiency related to payroll received two and a half stars.
On the other hand, the report highlights factors that still negatively impact the club's evaluation. These include negative equity and losses recorded in recent financial years. According to the balance sheet released for 2025, Corinthians had negative net equity of approximately R$774 million and ended the period with a loss of R$143.4 million.
Another point of attention cited by the survey is the financial leverage index, which considers the relationship between debts and income. In this regard, the club received only half a star, reflecting the debt scenario that continues to be one of the main challenges of black and white management.
Despite the financial difficulties highlighted by the study, Corinthians remains among the most valuable clubs in the country, driven mainly by the strength of its brand, size of its fans, fundraising capacity and relevance in the Brazilian football scene.
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Source: Timao Central