Corinthians forced to cancel Depay's contract after one month?

Memphis Depay has an unclear future with Brazilian side Corinthians just one month after his arrival. The Dutch forward, who joined Corinthians from Atletico Madrid earlier this summer, now faces an uncertain future. All that, thanks to financial issues surrounding the club’s primary sponsor, Esportes da Sorte. This could result in the premature termination of Depay’s contract, which would be a major setback for both the player and the club.

Depay, a former Barcelona and Manchester United star, left Atletico Madrid in the summer of 2023 after agreeing to terminate his contract a year early. Despite interest from several European clubs, he opted for a new adventure in Brazil. He signed a lucrative deal with Corinthians. The 30-year-old forward has made four appearances for his new team, providing two assists, and quickly became a fan favorite. His arrival was expected to bolster Corinthians’ attacking prowess and bring added excitement to the Brazilian Serie A.

However, Depay’s stay in South America might be much shorter than anticipated. Corinthians are reportedly facing a financial crisis due to problems with their main sponsor, Esportes da Sorte. The betting company has been embroiled in legal trouble and is suspected of criminal activity. However, it has been the primary financier of the forward’s hefty salary. With this financial backing in doubt, Corinthians may soon be unable to honor their contract with the Dutch international.

Sponsorship crisis

Esportes da Sorte plays a crucial role in financing Depay’s wages. The company is responsible for covering a significant portion of his annual salary, reportedly $10.4 million. This accounts for around 20% of his total deal with Corinthians. However, recent investigations by Brazilian authorities have put the sponsor’s operations in jeopardy. Esportes da Sorte’s CEO, Darwin Filho, has been under investigation for money laundering and other criminal activities. As a result, the company has been denied a state license, which threatens its ability to continue funding Corinthians and Depay’s salary.

Corinthians are in a difficult position. While they have not yet removed Esportes da Sorte’s branding from their jerseys, the club is aware that it may soon need to sever ties with the sponsor. Without this financial support, Corinthians are unlikely to be able to afford Depay’s $56 million three-year contract, which runs until December 2026. The club’s management is reportedly scrambling to find a replacement sponsor capable of covering the same amount, but so far, no new deal has been secured.

Impact on Depay and Corinthians

The financial uncertainty surrounding Esportes da Sorte has cast a shadow over Depay’s future in Brazil. Despite his short time with the club, Depay has already made a significant impact on and off the pitch. Many saw his arrival as a major coup for Corinthians, bringing a high-profile European talent to South American football. The report adds that Depay has not only performed well on the field but also revitalized the club’s fan base, creating a buzz around Corinthians that had been missing in recent years.

From a marketing perspective, the veteran has been a valuable asset for the club. His global reputation and experience in top European leagues have helped Corinthians gain international attention. However, the financial strain caused by Esportes da Sorte’s legal troubles could bring an abrupt end to Depay’s time in Brazil, leaving the club in a precarious situation.

PHOTOS: IMAGO