Corinthians makes proposal to pay off arena debt – 11/17/2023 – Sports

Corinthians presented a new proposal to Caixa Econômica Federal to pay off the debt relating to financing for the construction of the Neo Química Arena.

The club’s offer was presented to the executives of the state bank this Friday morning (17) during a meeting in Brasília with representatives of the two entities.

In a note, Caixa confirmed the negotiation. “The proposal will be forwarded internally for technical evaluations”, says an excerpt from the statement.

According to the UOL portal, the black and white board of directors understands that the debt is around R$600 million, of which R$300 million would be paid with the sale of naming rights to Hypera Pharma, a pharmaceutical company that named Neo Química Arena, while the other half would be paid off with a portfolio of court orders — debt admission bonds from a government (state, municipal or federal) with people or companies, but without a payment deadline.

Full text of Caixa’s statement

“Caixa Econômica Federal informs Brazilian society, its customers and employees, and the market in general that, on Friday morning, representatives from Caixa and Corinthians met, with the Club presenting a formal proposal for the settlement of the balance debtor of the Financing Contract signed for the construction of Arena Corinthians. The proposal will be forwarded internally for technical evaluations.”