Corinthians count on FIFA's mediation to lift transfer ban, find out more | OneFootball

The management of Corinthians, now officially presided over by Osmar Stabile, is racing against time to overturn the transfer ban imposed by FIFA. To do this, the club is counting on some 'help' from the highest football authority. The Timão owes around R$ 34 million to Santos Laguna for acquiring defender Félix Torres and is trying to reach an agreement with the Mexicans.

In a press conference after the election last Monday, Stabile revealed that the debt amount is even higher than R$ 34 million. This is because Santos Laguna is also charging a percentage of interest. Thus, the total is approximately R$ 40 million.

Corinthians does not have the cash resources to settle the debt in full. Therefore, the Timão attempted an agreement with Santos Laguna in the following terms: an upfront payment of 70% of the total debt and the remainder in installments. The advance payment from Nike and the penalty deposited by Bahia for signing the youngster Kauê Furquim would be used to solve the problem.

The Mexicans, however, have not yet responded positively. The club has tried several times to receive what is rightfully theirs but was ignored by the Augusto Melo administration and became irritated. Given the difficulty and urgency to resolve the issue, the Corinthians board contacted FIFA to have the entity mediate the talks.

Corinthians presented its proposal to FIFA, which reviewed the offer and delivered it to Santos Laguna. As reported by Gazeta Esportiva, the Timão is confident that the entity will be able to convince the Mexicans to accept the agreement. Otherwise, the club will have to find ways to raise all R$ 42 million to lift the punishment at once.

"Unofficially, we've made more than three proposals [to Santos Laguna]. We also reached out to FIFA, FIFA understood and spoke with Santos Laguna. We are waiting. They didn't want to negotiate. They tried to negotiate and couldn't. They talked to us, I had the opportunity to speak with the office that manages Santos Laguna, I asked for help to solve the problem. It's with FIFA, if FIFA decides we have to pay everything, we'll rush to do it, there's no other way," said Osmar Stabile in a press conference at Parque São Jorge.

"We are working on several fronts. Everyone talks about R$ 34 million, but it's more than that. In fact, there are another R$ 6 million in taxes. We have to find a way to resolve it. It can't stay as it is, we have to pay. We are negotiating, we already have the resources to pay 70%. We are waiting for a possible agreement from FIFA," he concluded.

(Photo: André da Silva Costa/Gazeta Press)

Stalemate with LFU

One of Corinthians' alternatives in the search for more revenue was to turn to the Liga Forte União (LFU). The club's idea was to receive a portion of R$ 27 million, which was scheduled for December, as an advance, plus a R$ 30 million loan. With this, the Timão would have R$ 57 million to ease the financial crisis.

However, the league only agrees to negotiate as a group. The LFU is willing to do business, provided that Corinthians extends the agreement valid until 2028. The alvinegro management does not agree with these conditions.

Thus, the talks are stalled and will only progress if one side gives in, which seems unlikely at this moment.

With the transfer ban, Corinthians is prevented from registering new players and, consequently, meeting coach Dorival Júnior's requests for "four reinforcements." In this window, the club's only signing was forward Vitinho, who was a free agent.

Besides the Félix Torres case, there are also ongoing FIFA processes involving debts with Rodrigo Garro and Matías Rojas. According to Osmar Stabile, all the outstanding debts total R$ 120 million that the Timão will need to pay.

This article was translated into English by Artificial Intelligence. You can read the original version in 🇧🇷 here.