Free agent Depay joins struggling Corinthians in Brazil

"Memphis Depay is a Corinthian," the club wrote on social media late on Monday.

The club added that the contract was "until 2026". Local media reported that Corinthians, mired in financial problems, will fork out a total of around 70 million reais ($12.5 million) and that a team sponsor will cover part of the salary.

Depay, 30, started for Netherlands as they lost to England in the Euro 2024 semi-finals, has scored 46 goals and provided 32 assists in 98 appearances for his country.

The attacker came through at PSV Eindhoven and had spells at Manchester United, Lyon and Barcelona before joining Atletico at the beginning of 2023. He scored 13 goals in 40 games, but his time in Madrid was marred by injuries.

Corinthians of Sao Paulo, known as the "Timao" (Great Team), are one of the best supported teams in the country  but are in the relegation places in the Brazilian Serie A, lying 17th after 25 games league although they have qualified for the quarter-finals of the Copa do Brasil and Copa Sudamericana.