Corinthians secure Memphis Depay extension after dramatic contract U-turn

Corinthians have reversed their decision not to renew Memphis Depay’s contract, with club president Osmar Stabile confirming the Netherlands international will sign a new two-year deal after the dispute triggered death threats against the club’s leadership.

Depay’s new agreement will keep him at Corinthians until mid-2028, following approval from the club’s board at a meeting on Monday.

The decision comes only one week after Corinthians announced that they would not extend the 32-year-old forward’s contract for financial reasons. The initial announcement prompted intense anger among supporters, with direct threats made against members of the club’s administration.

Speaking to Spanish newspaper Marca, Stabile said: “Thank God, everything went well and we got the votes needed for approval. We now feel relieved after managing to bring this matter to an end.”

Stabile also revealed that Depay had agreed to significantly reduce the financial terms of his contract after the previous agreement expired at the end of July.

Corinthians had announced last Tuesday that they would not renew the forward’s deal, stating: “Committing to a new contract of this size is not currently compatible with the financial stability needed to guarantee the club’s sustainability.”

The decision sparked a strong reaction from supporters. Club officials received direct threats, while a group of angry fans gathered outside Stabile’s home carrying banners that read: “Get out, you rats” and “Discipline is over.”

Depay also publicly criticised Corinthians, accusing the club of breaking promises. In a social media post, he wrote: “I am extremely disappointed by Corinthians’ decision not to honour our agreement to extend the contract for an additional two years, even though this renewal had been explicitly agreed with the club president and the sporting, legal and financial departments, before some people decided to break that commitment.”

Shortly afterwards, Corinthians resumed negotiations with the player and reached an agreement for him to remain with the side managed by former Brazil head coach Fernando Diniz.

Stabile said the club’s assessment of its legal, administrative and financial departments had changed its position and made the agreement possible.

“Based on the evaluations and the work we carried out in the legal, administrative and financial sectors, it became possible for us to meet the value of this contract,” he said.

Depay joined Corinthians in September 2024 and has made 79 appearances for the Brazilian club. He has scored 20 goals and provided 15 assists during that time.

The forward has also played a direct role in Corinthians winning the Campeonato Paulista and the 2025 Copa do Brasil.

Before moving to Brazil, Depay played for Atletico de Madrid and Barcelona, as well as representing the Netherlands at international level.