Memphis Depay has agreed to reduce his financial demands and remain with Corinthians, completing a major turnaround only days after the Brazilian club had decided against extending his contract.
The 32-year-old Netherlands forward had publicly criticised Corinthians after the club withdrew a previously agreed extension to the two-year contract he signed in 2024. Financial concerns had prompted the São Paulo side to reconsider keeping one of the highest-profile players in Brazilian football.
However, fresh negotiations between Depay and club president Osmar Stabile produced a revised agreement that will keep the former Manchester United and Barcelona attacker at Corinthians until 2028.
Stabile said the negotiations were difficult but ultimately resulted in a deal that was more manageable for the club. Depay personally agreed to lower the financial terms after talks involving his representatives had initially failed to produce an acceptable compromise.
According to ESPN Brasil, Corinthians owed Depay around R$75 million (£10.6 million), but the forward has agreed to give up approximately R$21 million (£2.9 million) as part of the new arrangement.
The remaining R$54 million (£7.6 million) is expected to be paid in four instalments beginning in January 2027. Corinthians would lose the negotiated reduction if the club fails to make those payments on schedule.
The new two-year agreement is reportedly worth a total of around R$135 million (£19.1 million). Stabile believes the revised structure puts the contract within Corinthians’ financial reach while allowing Depay to continue at a club where he has become an important figure.
Depay has scored 20 goals in 79 appearances for Corinthians since arriving in Brazil. He helped the club win the Copa do Brasil in 2025 before adding the Supercopa do Brasil earlier this year.
Corinthians are currently ninth in Brazil’s Serie A, with their financial position having played a significant role in the club’s initial decision not to renew Depay’s deal.
The forward’s decision to accept reduced terms now gives both sides a way forward after a tense period that had appeared likely to end his stay in São Paulo.
Depay also remains the Netherlands’ all-time leading goalscorer. His latest international campaign ended without a goal in three appearances at the 2026 World Cup, where the Dutch were eliminated in the last 32.