💰 Pay your dues, or else

Back in August, after being knocked out of the Copa do Brasil last 16 by bitter rivals Corinthians, Palmeiras club president Leila Pereira was left incensed. Not because the elimination was sealed after an apathetic 2-0 home defeat, or because much of the Palmeiras support had angrily turned against the manager, players and Pereira herself, with some strongly worded chants in the tie’s final moments — but because Pereira felt the outcome was entirely unfair from a financial standpoint.

As we explained in our November 29 issue, the São Paulo-based Palmeiras is one of Brazil’s best-run footballing institutions, with sky-high revenues and a reputation for paying its debts. Cross-town rivals Corinthians, however, are the antithesis of well-managed, racking up total liabilities that are approaching the BRL 2 billion mark.

“For me, it’s unacceptable to compete in a tournament, paying my players’ wages, against clubs who pay absolutely no one,” complained Pereira, three months after that elimination.

Brazilian football has lived with debts and defaults for generations, as the sport with tens of millions of fans and top-level athletes has…

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