The court ordered the seizure of R$28 million from Corinthians’ accounts due to debts owed to a Casio agent

A Sao Paulo court ordered the blocking of approx 28 million Brazilian reals (27,996,734.53 Brazilian Reals) from Corinthians accounts due to a debt owed to him. RC Consultoria and Assessoria Esportiva Ltdaa company Carlos LightResponsible for representing the goalkeeper CasioCurrently at Cruzeiro, right back Wagner. The charge refers to athletes’ renewals with the club. The decision was issued on Wednesday the eighth of this month by Judge Fabio Rogerio Pogo Pellegrino, of the First Civil Court (Tatuapé-SP). Corinthians has been contacted for the report and will update the post if there is any response.

Work began in January this year. The company collected R$10.3 million of the premium that should have been paid in December last year through extrajudicial enforcement of the title. The court ordered the blockade to be carried out using “Temosinha”, a tool from the Judicial Asset Search System (CESPAGOD) that searches for amounts in accounts receivable within a 30-day period.

According to case records, Caixa Econômica Federal asked the court to release the amount of R$8,984,680.41 from one of the club’s accounts. The company claims that it was transferred on credit to the bank, that is, as a form of security for the repayment of the debt for the construction of the arena in Itaquera.

In an agreement signed on December 6, 2023, Corinthians, still under the management of Duílio Monteiro Alves, signed an agreement with RC Consultoria e Assessoria Esportiva Ltda to repay debts through the assignment of credits with Brax Produções e Publicidade LTDA, the equity holder. Rights to billboards at club matches, between 2025 and 2029 in the Brazilian League. Failure to pay within the specified period resulted in the amounts being withheld.

Corinthians is going through a serious financial crisis, as its debts amount to about 2.3 billion Brazilian reais. This year, the first under the leadership of President Augusto Melo, the club has witnessed changes in the board of directors and disagreements with opposition groups behind the scenes, which accuse the current administration of increasing spending to pave the way for judicial recovery and, later, selling football in black and white through the Anonymous Football Association. (SAF).

The club denies the possibility and is studying ways to reduce debt. Among the projects discussed internally is the possibility of creating a real estate fund for fans to help pay for the Neo Química Arena, whose debts with Caixa account for R$1.5 billion of the total.