Corinthians president Osmar Stabile confirmed on Tuesday, August 11, 2026, the decision not to proceed with the renewal of Memphis Depay’s contract. With the termination of the contract, the Dutch striker will no longer be part of the club’s squad.
The determination puts an end to a long negotiation process that has lasted since the break for the World Cup, marked by several differences between the Memphis team and the Corinthians board. The player has a value to receive that can influence the club’s financial health.
Both parties had reached an understanding on July 26, but the next phase of discussion of contractual points brought new differences. Once these obstacles were overcome, the document was ready to be signed in the three days before the final decision.
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In an official statement, Osmar Stabile, president of Corinthians, stated that the non-renewal took into account the club’s “financial health”. He emphasized that resource management requires “strict balance and responsibility.”
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“Given Corinthians’ current and future financial obligations, it was clear that assuming a new commitment of this magnitude would not be compatible, at this time, with the financial balance that we need to preserve to guarantee the sustainability of the institution”, declared Stabile in the note.
During his career at Corinthians, Memphis Depay participated in 79 matches, scored 20 goals and contributed 15 assists. The athlete helped the club win three important titles: the Campeonato Paulista and the Copa do Brasil in 2025, and the Supercopa Rei in 2026.
Corinthians’ official position on the striker’s departure
In an official statement, Sport Club Corinthians Paulista informed the decision not to renew Memphis Depay’s contract, highlighting that the measure aims at the “financial health” of the institution, which requires rigorous and responsible control in the management of its resources.
The club expressed gratitude to the player and his team for seeking the best deal during negotiations. The statement especially thanked Memphis for its dedication and results, including 79 games, 20 goals and three title wins.
The board recognized that the negotiation process took longer than usual, justifying the prolonged period due to the complexity of dealing with a high-level athlete.
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Still in the note, Corinthians stated that they value the efforts of all departments involved in trying to keep the player. However, after a detailed analysis, the prevalence of financial reasons and the commitment to the responsibility of managing the club were decisive.
The institution reiterated that assuming a new commitment of this proportion did not align with the need for financial balance to guarantee its sustainability.
Corinthians recognized that it was a difficult decision, but fundamental for the club’s future. To clarify doubts and offer more details, the club announced the organization of a press conference in the coming days, where president Osmar Stabile will be available to provide the necessary information.
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Details of the drawn-out negotiation for contract renewal
To remain at Corinthians, Memphis had agreed to modify his previous contract, which was in effect from September 2024 to July 2026. There was a reduction in his salaries and changes in bonuses. The player also agreed to sign for two years, instead of the initially desired three, and to pay in installments the R$42 million that the club owes him.
In the Corinthians context, the renovation encountered strong opposition from political sectors in Parque São Jorge. Influential advisors and figures close to Osmar Stabile have always spoken out against the agreement, even with the reduction in the values proposed in the new contract.
As talks progressed, Memphis returned to Brazil on August 4, with the expectation of finalizing the renovation. He underwent a series of tests over two days, carried out in a hospital and at CT Joaquim Grava, and was approved by the medical department.
Even so, differences persisted during Memphis’ stay in São Paulo, preventing his reintegration into the squad for training or participation in the first Conmebol Libertadores games.
Throughout this period of uncertainty, professionals from the football department assured that the agreement was in progress, just awaiting the conclusion of the legal procedures.
Football executive Marcelo Paz, responsible for leading negotiations for the renewal, and coach Fernando Diniz, who had made public statements defending the striker’s continuity, were the main defenders of staying.
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In the days leading up to the decision, there was a consensus between the financial, legal and marketing departments for the renewal to be carried out.
President Osmar Stabile faced a delicate situation, having to decide between going against allies in an election year, with the risk of losing political support by authorizing the renewal, or going against the fans’ wishes by blocking the new contract.