17 Million" Flamengo will receive jackpot from Corinthians for full-back sold to the club

Corinthians will face a significant loss of at least R$17 million as a result of delays in installments relating to the purchase of Matheuzinho, a player acquired from Flamengo. The situation worsened after Flamengo activated bank guarantees due to failure to meet the stipulated deadlines for payments.

These delays occurred during a period of financial difficulties for Corinthians, who, as a result, will need to deal with this financial loss will be deducted directly from the amount that the São Paulo club has to receive from Brax, the company responsible for operating the advertising boards at the Neo Química Arena. This payment is scheduled for 2025, as stipulated in the contract.

THE VALUE EXTRAPOTES THE GUARANTEES 

Flamengo's decision to activate the bank guarantees is a common measure in contracts of this nature. type, especially when there is default. This mechanism guarantees that the Rio club receives the amount due even in the face of delays in payments by Corinthians. The process is simple: the bank or financial institution that issued the guarantee makes the payment to Flamengo, deducting the amount that should be paid by Corinthians. The value triggered by Flamengo , of R$ 17 million, represents a substantial part of the outstanding installments.

For Corinthians, this discount represents yet another challenge in its financial situation, which is already complicated. The club has faced difficulties in keeping its accounts up to date, with compromised revenues and high expenses, which include player and staff salaries, in addition to other financial commitments made over the last few years.