In
1999, Hicks, Muse, Tate & Furst entered into a partnership with
Sport Club Corinthians Paulista, a successful Brazilian soccer club team. Club directors and Hicks, Muse, Tate & Furst assured the fans that a new stadium was in development, but this never materialized.
Corinthians had won the Brazilian championship in 1998, so they inherited a winning team. There was an initial capital investment to tie down existing players and to finance the signing of
Dida and
Luizão. The initial expenditure assisted in retaining the league title in Dec 1999 and the club also won the inaugural
FIFA Club World Championship the following month.
They began selling the club's star players and announced plans to change Corinthians' famous black-and-white kit. This led to a furious reaction from supporters. In 2003, after legal/financial troubles and partner infighting, Hicks retired from the company and the ownership group eventually left the partnership with Corinthians. There was no new stadium.
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