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Corinthians Financial Struggles: Payroll Cuts and Installment Plans for Player Signings

Timão made room on the payroll by dismissing Gil, Giuliano, Renato Augusto, Cantillo and Bruno Méndezbut he has little money available for investments and has struggled to pay his November salaries.

The solution will be to offer payments in installments to facilitate hiring. These offers have already been made on the market for midfielders Erick (Athletico) and Raniele (Cuiabá), for example.

Corinthians has receivables throughout the season and understands that the available money needs to be used for short-term debts. The reinforcements will come in installments.

Rozallah Santoro, Corinthians’ new financial director, explained this equation to UOL.

With the suffocation of the short term, even with a budget and some funds, the problem becomes the now. When we talk about record revenue, close to R$1 billion, a large chunk came from the sale of Murillo, Pedro, Adson, Róger Guedes… It’s about R$250 million that didn’t come in cash. It is a 2023 income, but it does not affect the cash in 2023, it comes in over the last few months and years. The way forward, yes, is to make a proposal in installments. Will the guy want R$10 million in cash? It’s harder. All clubs have the same cash flow difficulties. Ours is a little bigger than the others

No excuses

The lack of resources in these first months of management should not make important reinforcements unfeasible. Corinthians wants around 10 signings.

2023-12-16 10:41:38
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