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Corinthians Refuse to Renew Memphis Depay’s Contract

The club says towering debt forces the move, raising a likely legal fight over roughly €7.2 million in unpaid fees and leaving Depay a free agent with reported suitors.

Overview

  • Corinthians announced on Tuesday that they will not extend Depay’s deal, saying the decision was necessary to protect the club’s fragile finances.
  • Depay replied publicly that a two‑year renewal had been agreed with the president and club departments and said he will seek remedies after accusing officials of breaking the deal.
  • Brazilian outlets report the club still owes Depay about €7.2 million in unpaid salary and image rights, a claim that could grow to roughly €12.5–12.9 million with interest.
  • Multiple reports say sporting, legal and financial departments had approved a renewal around August 8 before resistance from some board members reversed the talks, and coach Fernando Diniz had earlier said Depay’s stay was ‘completely acté.’
  • Corinthians plans a press conference to explain its decision, Galapagos Capital’s sector report estimates club debt near €420 million, and Depay’s free‑agent status has already attracted interest from clubs in Brazil, the Middle East, Mexico and Europe.