Corinthians has released its March financial report, showing a deficit of R$ 131.4 million. The club attributed the negative result to three main factors: the payment of bonuses tied to winning the Copa do Brasil, the settlement of debts with Santos Laguna, and the lack of player sales in the early part of the year, which had been planned in the initial budget.
The prize money awarded to the squad for winning the title amounts to approximately R$ 32.5 million. The payment to the Mexican club, related to the signing of Félix Torres, totaled R$ 6.1 million. Additionally, the club missed out on around R$ 75 million in revenue from player transfers that were expected during the period.
“The budget up to March 2026 projected R$ 75 million net (approximately €12.5 million) from the negotiation of federative rights of athletes during the first transfer window. The management chose to postpone operations due to prioritizing sporting performance in the Copa Libertadores and a strategy to increase asset value. The expectation is to generate around €25 million net in federative rights negotiations during the mid-season window, an amount necessary to meet the budget target set for the year,” the club explained in part of the document.
“The items below, of a one-off nature and not included in the budget, were the main factors responsible for the discrepancy observed when comparing actual results to the budget accumulated through March 2026: the bonus for winning the 2025 Copa do Brasil paid to the professional squad, processed on the January 2026 payroll and settled in installments; and taxes on the international remittance to settle the obligation with Club Santos Laguna for the signing of Félix Torres (IRRF and IOF),” the club continued.
Corinthians ended the first quarter of 2026 with R$ 197.6 million in net operating revenue, which represents money effectively generated by the club’s main activities, such as sponsorships, ticket sales, broadcasting rights, and sports prizes, without deducting financial items or other accounting adjustments.
Within this total, the main driver was the sponsorship and advertising sector, contributing R$ 92.5 million. Next came broadcasting rights with R$ 39.9 million, and the combination of ticket sales and the Fiel Torcedor program, which added up to R$ 39.1 million. The club also recorded R$ 15.1 million in sports prizes and R$ 13.4 million from membership fees and monthly payments.
On the other side, expenses reached R$ 202.1 million, resulting in a deficit of approximately R$ 4.5 million for the period. The largest expenditure was on personnel, totaling R$ 149.2 million, followed by R$ 32.6 million on materials and sports services, and R$ 13.3 million on general and administrative expenses.
