Check out a financial analysis of the years 2023 and 2024 of Corinthians - Sportingbet

Author: Vitória Correa

Website: Sportingbet

Original: https://www.sportingbet.bet.br/pt-br/blog/futebol/analise-financeira-do-corinthians-em-2024/

Check out a financial analysis of the years 2023 and 2024 of Corinthians

Corinthians has been going through financial problems in recent years, but, in addition, the management of Duilio Monteiro Alves culminated in the first term without winning any title. Despite the situation, Duilio believes he has helped reduce the club's debts and increase revenues. Check out a comparative financial analysis below in relation to the years 2023 and 2024 of Timão.

Corinthians' 2023

According to the "Convocados" report, by Galápagos, Corinthians has an imbalance in relation to its expenses. The survey shows that the personal part, which concerns the players and technical staff, represents 50% of the club's budget. The other 50% is related to other expenses.

In 2023, Corinthians managed to reduce this debt with personnel from R$ 331 million to R$ 309 million. In addition, it achieved 1 billion reais in gross revenue due to negotiations involving NeoQuímica Arena.

However, the club's gross debt exceeded 1.9 billion reais, which impacted the planning for 2024.

Another negative financial situation is related to Corinthians' position in the Brazilian Championship. Before the competition began, seventh place in the table was expected.

In October, the analyses began to consider a tenth place. But, in the end, Timão ended up in 13th position, bringing negative looks.

Currently, Corinthians is waiting for the payment of some player transfers. For example, Nottingham Forrest, from England, needs to pay the São Paulo club around 22 million reais for Murillo.

Corinthians Financial Analysis in 2024

Corinthians' financial analysis for 2024 begins with the promise of improvement in the team's performance. However, currently, Timão occupies the 17th position in the Brazilian Championship table, that is, it is at risk of relegation.

In addition, he left the dispute for the title of the Paulista Championship early, which angered the fans. The positive point is that it is still alive in the Copa do Brasil and the Sudamericana.

At first glance, the Corinthians board expected the performance improvement wanting to keep the wage bill at 22 million reais in 2024. However, the team not only failed to present good football or, at least, good results, but also spent more than it should have on players to compose the squad.

Related to these issues, there are also debts of NeoQuímica Arena, in the region of 703 million reais. It is worth noting that this amount was 566.8 million reais at the beginning of Duilio Monteiro Alves' term.

In general, these bills are paid in part through the sale of tickets to the games. Corinthians was in third place in the ranking of the highest ticket offices in the Brazilian Championship with an average of 38,393 fans. São Paulo (43.8 thousand) and Flamengo (54.5 thousand) complete the podium.

As previously stated, Corinthians' debt was 1.9 billion reais in 2023, but this amount rose to 2.1 billion reais in March 2024. Of this number, 1.39 billion reais concerns the club itself, while 717.8 million are debts of NeoQuímica Arena.

In addition, it had a surplus of 10.7 million until the aforementioned month, but the amount of 35.9 million was expected, which was not reached.

Situations of impact on debts

The issue on top of Corinthians' finances is related to unnecessary expenses. The management of Duilio Monteiro Alves increased revenues, but worsened NeoQuímica Arena's debt and hired unrestrainedly.

In addition, it had problems with player misconduct, sales to pay off short-term debts, and as a result, it had to go on the market.

In February 2024, Duilio Monteiro Alves made his own financial analysis of Corinthians criticizing Augusto Melo. According to the former president, the current manager is indebting the club more and more, tearing up "advantageous contracts" and triggering "fine clauses negligently", among other considerations.

In an official note, he also highlighted Timão's debts with businessmen, which are close to 217 million reais and which are expected to increase.