Corinthians struggles with transfer ban and gives up on signings

Corinthians gave up on signing reinforcements in the current transfer window because they couldn't lift the transfer ban imposed by Fifa. The punishment, which prevents the registration of players for up to three periods, was determined due to the debt with Santos Laguna, from Mexico, for the hiring of defender Félix Torres.

What happened?

The Brazilian club tried to negotiate and even offered to pay 70% of the amount, around R$ 28 million, in installments. The proposal provided for the payment of the remainder also in subsequent installments. Santos Laguna rejected the proposal.

Why is this important for Corinthians?

The lack of payment led the club to delay payments and resort to bank loans. Sources involved in the negotiations classified an out-of-court settlement as “unlikely”. The understanding is that Santos Laguna will only accept the total payment in a single installment, which Corinthians is not in a position to do at the moment.

What comes next?

The Fifa punishment established a fine of US$ 6.14 million, approximately R$ 33 million at the time, for non-compliance with the agreement with the Mexican club. As the value was not paid within the stipulated period, the transfer ban was confirmed. Coach Dorival Júnior confirmed that Corinthians will not have any more reinforcements this season.