Corinthians had to pass on millionaire value to the fund that manages the Neo Qumica Arena in 2020

Corinthians had to pass on millionaire value to the fund that manages the Neo Qumica Arena in 2020
Corinthians had to pass on millionaire value to the fund that manages the Neo Qumica Arena in 2020
Corinthians had to pass a millionaire amount to the fund that manages Neo Química Arena in the 2020 season, which, between March and December, had no public presence due to the COVID-19 pandemic.

According to the financial statement, the club had to ‘save’ the stadium’s finances in no less than R $ 15 million. The document confirms that “the box office revenues were zeroed and, although these net revenues are fully passed on to the Arena Fundo de Investimento Imobiliário (note 1.1), the costs of maintaining the Neo Química Arena and running the games ended up being borne by the Club”.

The Club’s help to the fund that manages Neo Química Arena is even more understandable if you take into account (and compare) the stadium’s historic collection in normal times.

In the 199 games with Fiel in the stands, between May 2014 and March 2020, the gross box office of the Corinthians arena was R $ 357.7 million (R $ 1.8 million / game). In relation to the net value of this box office, the collection was R $ 220.3 million (R $ 1.1 million / game).

In other words, the Neo Química Arena was one of those values ​​mentioned above on average for a deficit. In 18 games without an audience in the year 2020, the total loss recorded in the borderô totaled R $ 951 thousand. The club’s help, then, was inevitable.

Aid to the stadium took place even in conditions that were far from ideal. This is what the document makes explicit when commenting on the effects of the pandemic for Corinthians: “… the financial and economic impacts for the Club were very severe, as revenues from sponsorship, commercial operations and the Fiel Torcedor program had a significant reduction in the period, in addition to the postponement of part (about 20%) of rights revenues (TV) for the 2021 financial year “.

It is worth remembering that, in addition to the monthly expenses with maintenance and the realization of the games, Corinthians still has to resolve the financial issues of Neo Química Arena related to Construtora Odebrecht and Caixa Econômica Federal.

See here the latest changes on the subjects: Caixa and Odebrecht.

See more at: Neo Qumica Arena, Parque So Jorge and Corinthians’ Board of Directors.

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