Corinthians Lays Off Staff Amid Deep Financial Crisis

Facing a staggering R$2.5 billion debt, Corinthians has begun a sweeping financial restructuring in an effort to stabilize its accounts and prioritize funding for football. Newly appointed president Osmar Stábile, who replaced Augusto Melo two months ago, is spearheading drastic changes aimed at restoring order within the club.

The team has already terminated the contracts of Alex Santana, Igor Coronado, and Giovane during this transfer window, generating a monthly savings of approximately R$2.5 million. Additionally, the youth system is undergoing a revamp, with staff cuts and contract reviews underway.

“We need to eliminate unnecessary spending and restructure the club,” said Stábile. “Corinthians is like a water tank full of holes. We're patching them up. Some have been sealed, others not yet.”

Beyond the pitch, internal contracts—ranging from stadium parking to security—have been renegotiated. Dismissals are being evaluated on a case-by-case basis, with performance as the key metric. “Only those delivering results will stay,” Stábile emphasized.

To manage its cash flow, the club has advanced payments from its deal with Liga Forte União. Acknowledging the severity of the crisis, Stábile concluded: “We’re going through hard times, but Corinthians will change. It’s time for transformation. We can’t afford to make more mistakes.”