Memphis Depay accepts pay cut to remain at Corinthians until 2028

Memphis Depay agreed on 18 August 2026 to take a pay cut to remain at Corinthians, the Brazilian club said. The decision came days after the club had initially decided against renewing his contract.

Depay joined Corinthians after leaving Atletico Madrid in May 2024 and had publicly accused the club of "unacceptable behaviour" last week after Corinthians withdrew a previously agreed extension on a two-year deal signed in 2024. Corinthians president Osmar Stabile said the Netherlands forward reduced his financial demands "significantly" in order to sign a new contract with the Sao Paulo club until 2028.

Stabile described the process to finalise the agreement in blunt terms. "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."

Stabile added that a face-to-face meeting helped secure the revised terms. "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," he said.

The 32-year-old has scored 20 goals in 79 appearances for Corinthians and was part of the squads that won the Copa do Brasil in 2025 and the Supercopa do Brasil this year. The club are ninth in Brazil's Serie A and had originally decided not to extend his contract over concerns about their finances.

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

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