Depay agrees pay cut to extend Corinthians contract

Memphis Depay agreed to take a pay cut to remain at Corinthians, a few days after the Brazilian club decided against renewing his contract.

The former Manchester United forward accused Corinthians of “unacceptable behaviour” last week after the club withdrew a previously agreed extension on a two-year deal signed in 2024.

But Corinthians president Osmar Stabile has now confirmed the Netherlands forward has reduced his financial demands “significantly” in order to sign a new contract with the Sao Paulo club until 2028.

“Everything’s fine but it was hard work,” Stabile said. “Obviously, you can’t get an international star done very quickly – it was a lengthy process but everything worked out.

“We had a personal meeting and he managed to reduce numbers that his team couldn’t achieve. We did what was best for Corinthians, especially in financial terms.”

The 32-year-old has scored 20 goals in 79 appearances for Corinthians and helped them win the Copa do Brasil in 2025 and the Supercopa do Brasil this year.

But the club, who are ninth in Brazil’s Serie A, had originally decided not to extend his contract over concerns over their finances.

According to ESPN Brasil, Depay has agreed to waive about R$21m (£2.9m) from R$75m (£10.6m) owed to him by the club as part of the new two-year deal that is worth a total of R$135m (£19.1m).

The remainder of the debt, amounting to R$54m (£7.6m), is set to be paid in four instalments, starting in January 2027. The club would lose the discount if payments are delayed.

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“[Depay] reduced it significantly. I don’t want to discuss numbers, but he made a considerable reduction because of the circumstances, because of his desire to stay, and because Corinthians needed to find a way to pay. I believe we can afford this contract,” he added.

Depay is the Netherlands’ all-time leading goalscorer but failed to score in three appearances as his side exited the 2026 World Cup in the last 32.