Timao was supposed to make the payment last Friday, but he delayed the deduction for five days
On Wednesday (03/12), Corinthians paid the first installment of the thirteenth salary to employees working at Parque São Jorge. The deposit was supposed to be made by last Friday (28/11), but the club was unable to raise the necessary resources within the deadline.
The Board of Directors is experiencing significant financial difficulties and is considering a loan of R$100 million to reduce contingent liabilities. Among the outstanding issues is a debt of more than 40 million Brazilian reais owed by the Mexican club Santos Laguna, which is responsible for enforcing the transfer ban that prevents Timo from registering new players.
Despite the pressure on cash flow, staff and athlete salaries remain up to date. However, the same does not happen with image rights, which are subject to delays. The internal expectation is that this month’s expected revenues will allow these payments to be regulated.
Amid this delicate scenario, the club was looking for solutions to improve its financial organization. In fact, on Tuesday (02/12) Corinthians announced SAP Concur, an internationally recognized platform for controlling and managing expenses.
In an official statement, Timao emphasized that “technology will allow greater automation, accuracy and visibility throughout the entire spending cycle, eliminating inconsistencies in financial flow and more stringent monitoring of expenditures.” The tool is expected to contribute to increasing the efficiency of operations and reducing the risk of budget overruns.
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