Corinthians have decided not to renew Memphis Depay’s contract, ending the Dutch forward’s two-year spell at the Brazilian club after a prolonged and increasingly contentious negotiation.
The decision was confirmed by Corinthians in an official statement on Tuesday, with president Osmar Stabile citing the club’s financial situation as the sole reason for abandoning the renewal. The club said taking on a new commitment of the size required to retain Depay was incompatible with the financial balance it needs to preserve.
Depay has subsequently accused Corinthians of breaking an agreement that he says had already been reached to extend his contract for another two years. In a statement published on social media, the 32-year-old said the renewal had been explicitly agreed upon by the club president and its sporting, legal and financial departments. He said he was “very disappointed” and warned that he would take action to protect his interests.
The dispute follows weeks of negotiations in which the two sides had appeared close to an agreement. According to ge, Depay had accepted a two-year extension, changes to his remuneration and bonuses, and an arrangement to repay approximately R$42 million that Corinthians owed him. The agreement nevertheless failed to reach a final signature.
Corinthians said its decision was based on financial responsibility. Reuters reported that the club described the new financial commitment as incompatible with the sustainability of the institution. The club has also confirmed that Stabile will hold a press conference in the coming days to explain the decision in greater detail.
Depay, meanwhile, has said he will speak publicly about the dispute in the coming days. However, there is currently no verified evidence that he has scheduled a press conference. The confirmed press conference is the one Corinthians announced for Stabile.
Depay joined Corinthians in 2024 and made 79 appearances for the club, scoring 20 goals and providing 15 assists. He helped Corinthians win the Campeonato Paulista and Copa do Brasil in 2025 and the Supercopa Rei in 2026.
The financial dispute could now become the next major chapter of the saga. Corinthians owe Depay money under his previous contract, while the failure to conclude the proposed renewal means the sides must resolve the outstanding obligations separately. UOL reported that the club estimates the debt at about R$77 million when interest and other adjustments are included.
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