The club, promised 35 million dollars in spending money plus immediate payment of their debts, became rich overnight and went on a buying spree unthinkable for Brazilian football, where most clubs have to sell players to Europe to survive.

As their rivals looked on in disbelief, Corinthians splashed out a South American record of 18 million dollars on Argentina forward Carlos Tevez, another 15 millon dollars on his compatriot Javier Mascherano and 7 million dollars on former Porto midfielder Carlos Alberto.

Jubilant Corinthians president Alberto Dualib, more used to having angry fans demonstrate outside his house after defeats than celebrate titles, predicted greatness.

Less than two years later, however, Corinthians are in the Brazilian championship relegation zone and their two top signings have turned their backs on the club to join English Premier League West Ham United.

Their dream of winning the Libertadores Cup, South America's equivalent of the Champions League, is in tatters.

Although Corinthians duly won last year's Brazilian championship, it was the very least that was expected of them.

Otherwise, the chaos at the club has fulfilled the worse fears of MSI's opponents.

From the outset, many within the club opposed the deal because it allowed MSI 51 per cent of future profits and because they said not enough was known about the investors.

Current coach Emerson Leao is the seventh since MSI's arrival and the story has unravelled against a backdrop of training ground incidents between players and protests by fans.

Before one recent game, the Hawks of the Faithful supporters group held a mock funeral procession through the streets of Sao Paulo with coffins bearing the names of, among others, Corinthians president Dualib and MSI president Kia Joorabchian.

The Libertadores dream ended in May when Corinthians lost 3-1 at home to Argentina's River Plate and went out 6-3 on aggregate.

The irony of their multimillion-dollar side losing to a team consisting largely of players raised in River's youth divisions and coached by Daniel Passarella, one of the coaches fired last year, could not have been greater.

Furious Corinthians fans attempted to invade the pitch and play was abandoned in the 83rd minute.

But, as the team languishes at the wrong end of the Brazilian championship, Corinthians appears to have been turned into a players' supermarket.

Since the start of the year midfielders Ricardinho and Marcelinho Carioca have come and gone, barely kicking a ball in anger between them.

When Tevez and Mascherano both skipped training without permission, their indiscipline was rewarded with a move to West Ham as they effectively abandoned the ship in its hour of need.

In their place, Corinthians have signed more players: striker Nadson, former Brazil striker Marcio Amoroso, midfielder Magrao and full back Cesar.