Corinthians Makes Progress On Debt With Creditors Through Fan Fundraising Campaign

The Gaviões da Fiel supporters’ group announced the payment of the 119th installment of Corinthians’ debt to Brazil’s state-run bank Caixa Econômica Federal. The fundraising campaign, known as "Vaquinha do Corinthians," aims to pay off a stadium-related debt now estimated at BRL 700 million (USD ~135 million).

Installments are paid daily — excluding weekends — with the latest installment totaling BRL 6,015.11. Since launching in November last year, the initiative has raised BRL 40,531,115.48 (~USD 7.8 million), which accounts for 5.79% of the total goal. Around BRL 659 million still remains.

The debt originated in 2013 when Corinthians received a BRL 400 million loan from Caixa to build its Neo Química Arena, later used during the 2014 World Cup. Over time, accumulated interest increased the total amount owed.

Although far from reaching its target, organizers say the campaign has already brought financial relief. According to a report released earlier this month, the funds raised so far have generated annual interest savings of around BRL 7 million (~USD 1.35 million) for the club.

Originally scheduled to end in May, the campaign was extended through December 31, 2025. Fans can contribute with donation amounts starting at BRL 10 (~USD 2).