Corinthians losses hit record €29m as wages cut and stadium costs weigh heavy
May 5 – Brazilian giants Corinthians registered a record loss of €29.4 million last season, aggravating the financial crisis at the club.
It is the third consecutive time that the Sao Paulo-based club has had a deficit at the end of the season. In 2017, the club ended the book year with a negative of €5.8 million followed by another loss of €2.8 million in 2018. In a statement the club said that the finances are “under analysis”.
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