Ex-Man Utd forward Depay accepts pay cut to remain at Corinthians

Memphis Depay agreed to take a pay cut to remain at Corinthians in Sao Paulo on 18 August 2026, days after the club had initially decided against renewing his contract, the club president said. Corinthians confirmed the Netherlands forward reduced his financial demands "significantly" in order to sign a new deal running until 2028.

Depay joined Corinthians after leaving Atletico Madrid in May 2024 and had accused the club of "unacceptable behaviour" last week after Corinthians withdrew a previously agreed extension on a two-year deal signed in 2024. The club had originally decided not to extend his contract because of concerns over their finances, the club later acknowledged. President Osmar Stabile said the situation required lengthy negotiations before both sides reached an agreement.

Stabile described the negotiations as difficult and slow. "Everything's fine but it was hard work," he 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."

According to ESPN Brasil, Depay 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, which is worth a total of R$135m (£19.1m). The report framed the reduction as a substantial discount to allow the contract to proceed under the club's financial constraints.

The 32-year-old has scored 20 goals in 79 appearances for Corinthians and was part of the teams that won the Copa do Brasil in 2025 and the Supercopa do Brasil this year. Depay is his national team's all-time leading goalscorer, and he failed to score in three appearances as the Netherlands exited the 2026 World Cup in the last 32.

Corinthians are ninth in Brazil's Serie A, and Stabile said the club found a way to make the deal viable. "[Depay] reduced it significantly," added Stabile. "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."

The remaining R$54m (£7.6m) owed under the agreement is to be paid in four instalments, starting in January 2027, and the club would lose the discount if payments are delayed.