Official: Memphis Depay Renews Contract with Corinthians Until 2028 After Dramatic U-Turn

It was a saga that gripped Brazilian football for a week — a public feud, threats of legal action, social media warfare, and a complete breakdown in trust. Yet, in the end, Memphis Depay and Corinthians found a way back to each other. Memphis Depay has completed a dramatic, last-minute U-turn to sign a new two-year contract extension with Corinthians, locking his future with the Brazilian club through mid-2028. The Netherlands legend is staying in São Paulo — and he will be doing so at a significantly reduced price.

The Drama Behind the Deal

The renewal did not come easy. Far from it. On August 11, Corinthians released an official statement declaring that they would not extend Depay’s contract due to severe concerns regarding their financial stability and internal political friction.

Depay’s reaction was immediate and public. Depay reacted angrily on social media, accusing specific board members of “unacceptable behavior” and breaching a contract renewal that had already been explicitly greenlit by the club’s legal and financial departments. He threatened legal action and a public media campaign.

Facing strong backlash and mounting pressure from the fan base, Stabile reopened talks. To share responsibility for the costly U-turn, Stabile brought the new terms to the club’s Advisory Council at Parque São Jorge, where it received unanimous approval.

The formal announcement by club president Osmar Stabile on Monday night put an end to an intense, week-long public feud.

The Financial Structure — Depay Takes the Hit

The deal only crossed the line because Depay was willing to make significant financial concessions. The deal was rescued because the 32-year-old forward agreed to a massive financial reduction to align with the club’s strict sustainability goals. Depay slashed the overall value of his demands by roughly R$30 million, which amounts to around €4.99 million.

The Brazilian branch of ESPN reports that the contract has a total value of €22 million. He was still due €12.5 million, but that has been reduced to €9 million. The amount will be paid to Memphis in four instalments.

Financial Breakdown

What They Said

Depay did not hide his emotion upon confirming the renewal. “There are so many emotions in my head and in my body. First of all, I thank everyone involved in the renewal process. Of course, Corinthians is a giant in football: everyone has seen how great it is and how great we are together. I am very, very happy. I can’t wait to get back to work,” Depay said.

Corinthians president Osmar Stabile was equally pleased. “It was a long negotiation, but it ended in the best possible way for Corinthians and for Memphis Depay, whom I thank for his efforts to stay. We are very satisfied,” said Corinthians president Osmar Stabile.

What Happens Next

The expectation is that Memphis will report to the CT Joaquim Grava on Tuesday morning, where he will rejoin his teammates under the guidance of manager Fernando Diniz as they prepare for upcoming fixtures.

The timing of the renewal is particularly crucial as Corinthians prepare for the knockout stages of the Conmebol Libertadores. The club is hopeful that by having the striker back in training immediately, he will be available for selection for the upcoming clash against Rosario Central.

Depay at Corinthians — Stats

After joining Corinthians in September 2024, the Netherlands international has now scored 20 goals in 79 matches. During this period, the 32-year-old Dutchman has made 79 appearances, scored 20 goals, and provided 15 assists, winning the Paulista Championship, the Copa do Brasil, and the Brazilian Supercup.

Who Is Memphis Depay?

Memphis Depay is one of Europe’s most decorated forwards of his generation and the Netherlands’ all-time top scorer. Memphis has become the all-time top scorer of the Netherlands national team.

Born in Moordrecht, Netherlands, on 13 February 1994, Depay rose through the PSV Eindhoven academy and went on to play for some of the biggest clubs in European football — Manchester United, Lyon, Barcelona, and Atletico Madrid — before making the surprising move to Brazil with Corinthians in September 2024.

Career Timeline

Honours — Career Trophies

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