Clube alvinegro will try a new negotiation model; the meeting should take place on Thursday

February 12
– 16:55

(update at 16:55)

An agreement that seemed to be in progress between the Corinthians and Federal Caixa Econômica for release Neochemical Arena It will not happen again. The bank rejected the proposal of a black and white club submitted by the previous management board Duílio Monteiro Alves. Now a new president Augusto MeloA new round of negotiations will be held to test the feasibility of the agreement along different lines.

The rejection of Corinthians' proposal was officially announced last Friday via the 'Corporate Loan Recovery' sector. The former black and white commission proposed the payment of R$531.51 million to settle the debt to Caixa for the arena, which is located in Itaquera, a district in São Paulo's eastern zone.

According to Corinthians' chief financial officer, Rozallah Santoro, the club's debt to Caixa currently stands at R$706 million. According to StadiumAugusto Melo's new meeting with the bank is scheduled for next Thursday, January 15 in Brasilia to find new forms of payment.

The proposal submitted by the board to the Caixa included the transfer of R$356.5 million received from Hypera Pharma in naming rights (Neo Química), in addition to what became popular as “precatório titles” but which would actually be credits in the contracts with the Compensation Change Fund (FCVS). This “sovereign debt” would be purchased by Corinthians, resulting in an advance on the amount owed to Caixa by the two companies.

However, the agreement was deemed “unworkable” because the origin of both amounts is incompatible with this objective. In other words, the bank pointed out that the value of the naming rights and purchase credits in the FCVS contracts cannot be used to repay Neo Química Arena. Wanted by StadiumCorinthians and Caixa have not yet officially commented on this matter.