Footy Cap
Brasileirão · Corinthians
Brazil's betting veto could cost Corinthians R$198m, 23% of recurring revenue
An estimate for UOL puts Corinthians' loss from Brazil's betting-sponsor veto at R$198m, 23% of recurring revenue. Flamengo and Palmeiras compared, plus the club's R$1,538m net debt.
Footy Cap desk ·
Brazil's veto on betting sponsorship could take R$198m a year out of Corinthians' recurring revenue. That is the estimate economist Cesar Grafietti produced for UOL (27 Oct 2026). It covers shirt deals and stadium board advertising with betting companies, measured against recurring revenue, which leaves out player sales and 2025 Club World Cup prize money.
On that basis Corinthians fall from R$879.4m to R$681.4m, a 23% cut. Only Flamengo lose a bigger share.
Recurring revenue before and after losing betting deals (Grafietti for UOL, 27 Oct 2026)
| Flamengo | R$1.3bn → R$967.2m (−R$334.5m, −26%) |
| Corinthians | R$879.4m → R$681.4m (−R$198m, −23%) |
| Palmeiras | R$733m → R$570m (−R$163m, −22%) |
Source: UOL, Guilherme Padin, 27 Oct 2026, using Grafietti's Relatório Convocados (May 2026). Figures as printed; percentages are UOL's.
A second scenario
Grafietti also worked out what happens if the veto only lasts until the end of 2026, which UOL says depends on Congress rejecting the provisional measure (MP). In that case Flamengo, Corinthians and Palmeiras would each lose 6% of their 2026 revenue (UOL).
Why it matters more at Corinthians
Corinthians carry the heaviest balance sheet of the three. EY puts their net debt at R$1,538m at 31 December 2025 (EY Brasil, Levantamento Financeiro Clubes Brasileiros 2025, p.39). EY's definition counts tax and labour liabilities, so it is broader than bank debt. Sports Value lists loans alone at R$250m (Sports Value, May 2026).
The club's audited 2025 accounts show total personnel costs of R$571.2m, up from R$428.9m in 2024 (Corinthians demonstrações financeiras 2025, note 20).
Corinthians on Footy Cap
| Net debt, 31 Dec 2025 (EY) | R$1,538m |
| Personnel costs, 2025 (audited accounts) | R$571.2m |
| Recurring revenue, 2025 (Sports Value) | R$863.7m |
| Footy Cap health grade | C (63.3) |
Our stored recurring revenue (R$863.7m, Sports Value) differs from the R$879.4m base in Grafietti's UOL estimate because they come from different reports. We show both and do not blend them. The grade is unchanged by the estimate: it uses filed figures only.
See the full breakdown: Corinthians revenue, wages, debt and grade · how the C grade is built · Flamengo · Palmeiras · Brasileirão report card.
Sources
- UOL: Veto às bets: Fla, Palmeiras e Corinthians perdem um quarto da receita (27 Oct 2026)
- EY Brasil: Levantamento Financeiro Clubes Brasileiros 2025
- Sports Value: Finanças TOP 20 clubes brasileiros em 2025 (May 2026)
- SC Corinthians Paulista: Demonstrações financeiras 2025
Footy Cap does not forecast. Figures are as published on the dates shown; where our pages and a source differ, we say so above.
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