August 15, 2022
Corinthians informs of the signing of an agreement with Caixa Economica to settle the Arena debt

Corinthians informs of the signing of an agreement with Caixa Economica to settle the Arena debt

Corinthians posted an official memo earlier Monday night informing fans of another important step towards paying off debts related to the Neo Química Arena. This time, the club announced the signing of the contract with Caixa Econômica Federal.

According to the statement, the two parties signed documents to renegotiate the financial commitments related to the financing of the Alfinegro stadium at the time of its construction in 2014. The bulletin also indicates that the position continues the decision taken by the deliberation board. From Corinth at a meeting in the last month of June 2022 See the full official note below.

The total debt between Timão and BNDES, arising from the stadium construction loan, is R$611 million and Corinthians will have to repay it by 2041. The installment should be about R$18 million per year – this value has already been deducted from revenue naming rights. In connection with the payment of the agreement with Caixa, the Corinthians will start paying interest in 2023, and from 2025, it will be the turn to amortize the principal of the loan (annuity).

The agreement, notably, was signed after a unanimous vote of council members to approve it. Prior to that, the agreement was also approved by the club’s board of directors and its board of trustees.

Check the official note

Corinthians FC informs Paulista that it has signed, on Monday (25th), the documents of agreement between the club and Caixa Econômica Federal to renegotiate commitments related to the financing of the construction of the Neo Química Arena. It will be carried out in accordance with the contractual terms and conditions.

With his signature, President Duilio Monteiro Alves continued the decision taken by the Corinthians Consultative Council at a meeting held on 27 June 2022. It is noteworthy that there was unanimity among the members of the Council to agree to the terms of the agreement.

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