Corinthians Faces New Accusations of Financial Mismanagement

Former Corinthians President Augusto Melo Accuses Club of Financial Irregularities São Paulo, Brazil – Former Corinthians president Augusto Melo has publicly accused the club of significant financial mismanagement, claiming errors in the 2023 accounts. Melo, in a recent video interview, stated that he was the "only one who took the club's finances to court." He alleges that when he left office, the club was burdened with a debt of R$829 million, a figure he describes as a "tremendous false narrative." He further emphasized that an independent audit revealed additional errors, totaling R$191 million, with an additional R$50 million discovered this week. "They're going to try to not open the 2023 accounts," Melo warned. He challenges the current administration to provide transparency and calls on fans to demand the release of the full financial records. The accusations have raised concerns among Corinthians supporters and prompted calls for greater accountability from the club's leadership.