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The Corinthians recorded a deficit of R $ 177 million in the 2019 season, surpassing the three negative digits for the first time in its history: the highest so far had been 97 million negative reais, recorded twice in sequence, in the years 2014 and 2015.
The figure for 2019 is almost ten times greater than the deficit for fiscal year 2018 (R $ 18.7 million) and contrasts with last year’s budget, which was expected to close in blue (R $ 650 thousand).
Also in the financial statement prepared by the financial department, in which My helm had access, The club’s total debt as of December 31 appears to be R $ 765.2 million. (according to the club, R $ 317.4 long-term eligible). It’s important to put attention on this amount does not include amounts related to Arena Corinthians.
The club’s net income last year was R $ 358.8 million. In the document, this value comes from:
- R $ 188.8 million in transmission rights;
- R $ 78 million in sponsorship;
- R $ 30.6 million in brand and other income;
- R $ 14.8 million in membership contributions;
- R $ 6.2 million from commercial operations;
- R $ 62.3 million in gaming revenue.
It is necessary to highlight these last net income. This “game collection” also enters the document as an expense, as all amounts related to Arena Corinthians are transferred in their entirety to the fund that manages the stadium.
Another detail is that in this part of the document related to income, transfers of federative and economic rights (sale of the player) do not appear. Elsewhere in the document, this item appears with a value of R $ 45.2 million (in relation to the budget, R $ 8.7 million less).
As for expenses, The document reports that the amount spent in 2019 was R $ R $ 491.3 million. This amount includes: personnel, general and administrative expenses; services; Asset depreciation; and game collection (item mentioned above as income).
The document prepared by the Corinthian finance department has not yet been evaluated by the Deliberative Council and, therefore, has not yet been officially published on the club’s website. Due to restrictions during the quarantine in São Paulo, the vote was postponed and has no date yet.
In time: The Fiscal Council and the Guidance Council (Cori), which have already carried out their analysis work on the 2019 final report, await the post of the Deliberative Council President (Antonio Goulart) for further deliberations on last year’s figures.
See more at:
Andrs Sanchez and Corinthians Board of Directors.
