The Brazilian club Corinthians ended the year 2014 on a positive note as they clinched a 2-1 victory over Criciuma in their last league match of the previous year. The start of 2015 was even better as Corinthians claimed a very convincing 4-0 triumph against Once Caldas in the Copa Libertadores.
However, not everything went successfully good for the Brazilian side as the club reported a loss of €29.8 million during 2014.
Corinthians had a fairly good previous season as they claimed the 4th spot in their league and managed to reach the quarter-final stages of the cup. It wasn’t a memorable or outstanding season for the Brazilian side but it wasn’t a disastrous one either, it was simply good enough for the team to stay in the top spots of the Brazilian league.
One of the main reasons on why the club experienced such a big deficit was due to the construction of the stadium as the club had to the club having to amortize the arrears incurred by the administration under of Andres Sanchez. The club also paid about €16.5 million to government tax collection agency Refis.
Corinthians had to spend around €13 million in order to sign AlexandrePato who hasn’t really made a huge impact in the team and the Brazilian player was later loaned out to Sao Paulo but Corinthians are still obliged on having to pay a part of the wages of Pato.
Financially, the year of 2014 was a disaster due to their deficit that Corinthians experienced which is a completely different story than how the club was able to manage their finance in 2013 when the club reported a surplus of around €330,000.