tag:blogger.com,1999:blog-487486960623783530.post1179638731682082725..comments2024-02-29T09:58:18.342+01:00Comments on The Swiss Ramble: The Price Of Inter's SuccessThe Swiss Ramblerhttp://www.blogger.com/profile/11423088862174893998noreply@blogger.comBlogger71125tag:blogger.com,1999:blog-487486960623783530.post-82113435586682951392015-10-11T00:01:02.566+02:002015-10-11T00:01:02.566+02:00Great article, any chance of an article on Glasgow...Great article, any chance of an article on Glasgow Rangers/Scottish clubs?newshttp://bittersweetadventure.com/noreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-33394793577087800282012-07-02T16:14:10.405+02:002012-07-02T16:14:10.405+02:00Would love to see an update to Inters current situ...Would love to see an update to Inters current situation since they are in the process of building a stadium ...kalihttps://www.blogger.com/profile/11358399708246333780noreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-63408526076085866602011-08-10T03:48:54.346+02:002011-08-10T03:48:54.346+02:00This comment has been removed by a blog administrator.Osvaldohttp://www.didactico-delpanda.com.arnoreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-8516603574856209292010-09-14T17:44:21.102+02:002010-09-14T17:44:21.102+02:00I don't think I'm ruining this blog, which...I don't think I'm ruining this blog, which is really well-done.<br />I've just given my opinion.<br />Sometimes it's hard to face the truth, I must confess I'd behave just like you if I didn't know the real facts. But this article (and even my comments) are not a Moggi's defense, but I want to attack Moratti's management by an economical and sportive point of view.<br />I repeat: Internazionale could benefit from a ruling, come from a trial without the last level of justice! and this process was made without witnesses!!! and it lasted just 20 days!!! and sentence declared Juventus hadn't done any wrongdoing! but anyway they invented it! and a glorious society, probably thanks to the part of society near to Montezemolo, was pit in serie B!<br />Nobody told anything, because everybody hate juventus...<br /><br />DavideAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-65108710075187454352010-09-10T09:01:17.401+02:002010-09-10T09:01:17.401+02:00Now Juventus fans (widows of Luciano Moggi) come h...Now Juventus fans (widows of Luciano Moggi) come here to ruin this serious blog...<br /><br />Good job!<br /><br />Shame on you...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-3943965914004405832010-09-08T22:28:35.340+02:002010-09-08T22:28:35.340+02:00This comment has been removed by a blog administrator.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-92223784657045918002010-09-08T22:26:58.363+02:002010-09-08T22:26:58.363+02:00This comment has been removed by a blog administrator.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-47612608846100838882010-09-07T14:48:28.575+02:002010-09-07T14:48:28.575+02:00I don't want to ruin an interesting and well-d...I don't want to ruin an interesting and well-done article!<br />But everyone has the right to write and tell everything.<br />I remember you I'm not a moggi's supporter! I really want to stress my position on italian football. I can agree with SwissRamble, but whenever you analyze a situation, you always must understand causes and effects.<br />When you study literature, economics or art, you have to collocate the problem in the particular environment in which it develops!<br /><br />But as usual nobody will answer me/us with real facts, real court decisions or numbers...<br /><br />This is Italy.<br />I'm sorry, but everyone would know the truth.<br /><br />DavideAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-90127294846016159462010-09-06T22:55:18.272+02:002010-09-06T22:55:18.272+02:00Please, listen to me.
I'm a juventus fun, and ...Please, listen to me.<br />I'm a juventus fun, and I know Internazionale last season has been the best italian team, and one of the best in Europe. We must recognize it.<br />But we feel really alone. Here in Italy nobody listens for us!<br />Why Internazionale has become so strong? When has it begun? From 2006, the year of destruction of Juventus.<br />Economical damage, in case of Serie B, was approximated at about 130 mln, but sure this society lost more.<br />Internal family war (montezemolo-elkan versus agnelli-moggi-giraudo) and interests of other societies made the most important scandal of last years.<br />We're not joking, we're not just funs!<br />If moggi had been guilty, we would have accepted the answer of the Court, but there isn't ONE fact to prove this!<br />It's really a scandal! Internazionale has begun winning since 2006, with a scudetto (2005-2006) given to them by Guido Rossi (Italian federation commissario straordinario) who was a president of telecom and in the counsil of Internazionale.<br />Just 70 phon calls was used to accuse Moggi and Giraudo, about 70 calls...but interceptation were about 200.000!!!! They were damned after a process of 20 days! Try to verify, and you'll understand if we're wrong! We're reporting facts, data and reality!<br />Moggi's defense is writing down the other phon calls, and many of them are important to cancel the theory of "moggi mafioso". Also Facchetti and Moratti and Meani and Galliani and many other people called Bergamo and even referee...and really decided about referees choices! Our newspapers refuse to explain, because one of them (la Gazzetta dello Sport) helped Carabinieri to find out Moggi's relationships.<br />Football, you know, is also polithics and economics, is business! Every team try to win! Moggi was one of them, not the Big One! Juventus won thanks to Del Piero, Trezeguet, Buffon, Thuram, Cannavaro, Nedved, Camoranesi, Vieira, Zidane, Ferrara, Peruzzi, Vialli, Ravanelli, Deschamps, Conte, ....is it enough? I mean, you can't win with ten terrible players+Ronaldo. We won with 10-11 world champions!<br />But why international press has never written about FALSE PASSPORT of Internazionale player Recoba? Do you know Oriali was punished with 6 months of JAIL?<br />WHY?<br /><br />Now congratulation to Inter... yes, of course... by destroying the team which was the stronger italian team in that moment!<br /><br />OPEN YOUR EYES, please!<br /><br />Congratulation to author, but I wanted to add this important precisations to understand the TRUTH.<br /><br />Thanks.<br />DavideAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-87690645895897705852010-09-06T15:56:26.340+02:002010-09-06T15:56:26.340+02:00italian mafia(Berlusconi,Galliani Moratti, Baldini...italian mafia(Berlusconi,Galliani Moratti, Baldini, Carraro, Abete,Matarrese,ecc..ecc..) destroyed Juventus FC. The italian Television & newspapers are not credible because to many interest.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-15150441293284380492010-09-06T12:10:22.840+02:002010-09-06T12:10:22.840+02:00It's quite funny to read the nonsense comments...It's quite funny to read the nonsense comments written in a "macaroni style" by a handful of Moggi groupies, not undertanding the depth of an article like this one.<br /><br />Very interesting article indeed, every football fan should read. This is much more helpful to understand the financials of soccer clubs than thousands of newspaper's articles full of misleading numbers.<br /><br />Excellent job, Swiss RamblerAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-45970677165661152382010-09-05T01:51:35.632+02:002010-09-05T01:51:35.632+02:00If you tell me what these courts to confirm your t...If you tell me what these courts to confirm your theories I would be grateful because the courts, not the real ones led by former Inter and telecom board, leaving quite different things.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-91224426412608912612010-09-03T16:29:00.654+02:002010-09-03T16:29:00.654+02:00Very nice article, too bad that the fans of Juvent...Very nice article, too bad that the fans of Juventus, dirtying everything they touch, know nothing, they can not lose, they won only stealing and the courts have ruled in favor of those who believed these things.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-34036494573073617742010-08-31T12:44:11.051+02:002010-08-31T12:44:11.051+02:00A fine piece of writing. Thanks a lot for a lucid ...A fine piece of writing. Thanks a lot for a lucid analysis. It's kind of depressing to see it ruined by the latest deluded comments by Juventus fans, but that's life.<br /><br />All in all, I have to say that I still fail to understand the basic reasoning behind stopping someone to dispose of his money as he prefers. If Moratti wants to spend 1 billion Euros on his football team , what's the rationale in a capitalistic world for stopping that to happen?<br /><br />I agree with whoever said that this will have the immediate result of protecting the status quo. Whoever has a large fan following and can get high revenues from matchdays will stay on top. This will pretty much put an end to "new entries", such as Manchester City.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-76656979999064632272010-08-31T01:21:25.655+02:002010-08-31T01:21:25.655+02:00WHERE THE MONEY TAKES MORATTI?
The money to buy p...WHERE THE MONEY TAKES MORATTI?<br /><br />The money to buy players Massimo Moratti takes you from here in this small village on the coast of Sardinia. But do not feel excluded: you too are helping to invest in the team. Every time you pay the electricity bill. Sarroch is in the province of Cagliari. <br />There stands the establishment of the Saras refinery, the family company of the oil Moratti, founded in 1962 by Father Angelo (former president of the Inter). The satellite is seen that the plant is much larger metropolitan area. It is on the coast, to allow the berthing of tankers: one quarter of the oil transported by ship in the world goes from here, from the sea of Sardinia. It is the largest oil refinery in the Mediterranean by production capacity: 15 million tonnes per year of crude oil Treaty, which mostly comes from Libya and North Sea. Customers include Shell, Repsol, Total, Eni, Q8, Tamoil. The accounts of Saras are excellent: 5.5 billion euros in revenues in 2005, a good 48% more than in 2004, and earnings for 332 million (again, more than 47% on 2004). And in early march 2006 things even better, with net results that doubled over the same period in 2005. Saras employs 1,600 people. But the real jewel of the company's plant in the South East is the powerhouse Sarlux. The Sarlux is a company owned 100% by Saras. The plant produces electricity by burning waste processing that produces Saras refining oil. This difference is called TAR, also called "heavy fuel oil, a semi-solid pitch that could be used to make asphalt, and that to be gasified and burned is sprinkled with oxygen. It is a highly polluting fuel, much of the methane is usually used in power stations. The plant burns 150 tons of tar per hour. Besides CO2, nitrogen oxides emissions and different at the end of the year without a dowry burning 1,400 tons of waste from concentrated sulfur and metals such as vanadium and nickel. The energy generated by the plant Sarlux is all bought by a public entity, the Manager of the electrical system (GRTN), which pays twice the true market. This is because the Italian law for the plant is a plant Sarlux "assimilated" to renewable sources, and therefore should be encouraged as these. How is it possible that a central processing waste oil burning is paid like a solar system we owe to the infamous measure Cip6 (Interministerial Committee prices) in 1992. At that time the government decided to facilitate the construction of renewable guaranteeing to buy (at the time by Enel) electricity at a higher price, twice and sometimes three times, and for the community, through the bills, 's burden of supporting clean energy. But then spread this opportunity also to a limited number of plants that use other sources which he called "assimilated", and that renewed had nothing: namely gas, coal, tar waste. Since then even the Italians pay 10% more in bill thought to contribute to the spread of clean energy. Instead 80% of those contributions end up in facilities like that of Moratti. For 2005 we are talking about a total of over 3.1 billion euros (2.3 billion were in 2004). Today Cip6 mechanism was superseded by that of green certificates created in 1999, which does not "assimilated" sources, but the agreements signed in the past are still the most active. Sarlux is not the only one to benefit from this situation. The list of recipients is not public, but we know that half of the cake Cip6 ends in Edison, which belongs to France's EDF. Other oil companies such as Garrone Erg or Brachetti Peretti of Bees enjoy the incentives with similar plants, which produce that electricity by burning waste oil processing. But the installation of Moratti has some interesting peculiarities: the first is that it is one of the largest, with its 575 megawatts of power and 4 billion kilowatt-hours produced per year. The second feature is that it is among the last to have access to incentives, since the convention started on 8 January 2001.<br />continua..........Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-25900801054581026132010-08-31T01:12:19.930+02:002010-08-31T01:12:19.930+02:00inter winner of the champios league :
Have you no...inter winner of the champios league :<br /><br />Have you noticed what is the official sponsor of the Champions League this year?<br /><br />Nos do you waste time ... Unicredit ....<br /><br />Do you know who is the chairman of Unicredit?<br /><br />Here too much help?<br /><br />Paolo Savona ...<br /><br />Many of you ask? Who is it?<br /><br />Simple ... adviser c.d.a. of the international F.C.<br /><br />after the race valid for the Inter-Barcelona Champions League semi-final, the Spanish press throwing accusations against the referee Olegario Benquerencia, defining the company Inter as a "robbery Portuguese. "Theft Italian". A few days later the news comes out that actually Benquerencia between Mourinho and there is a friendship that lasted over ten years and apparently the two were also business partners to manage a restaurant.<br /><br />One wonders why the Uefa has gone along with the choice to arbitrate a Portuguese, for a team coached by a Portuguese, especially considering that Benquerencia became famous in 2004 at the direction of Benfica - Porto marked by a gross error in favor of arbitration Porto (then coached by Jose Mourinho) and for which he was chosen to referee the nickname "O Larápio" (the thief).Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-83681416977083092242010-08-31T01:10:48.395+02:002010-08-31T01:10:48.395+02:00inter-moratti=mafia
what I have written and '...inter-moratti=mafia<br /><br />what I have written and 'only a small part of the ugly things of someone who defines fair par excellence.<br />peer network file search and ... good luck<br /><br />All 'Uefa really like the "school Facchetti"<br />Wolfheze (Ola) - C 'is a card of' Inter studying to Facchetti. If Barbara's daughter 's unforgettable Hyacinth, now permanently working for FIFA (deals for meetings and ceremonial events), Andrea Butti, chief press officer of the club Inter, is busy these days in Holland in a second look. L 'Uefa, with which cooperates Butti time, gave the first official function: responsible media stadium in Arnhem, one of four plants that are hosting the' European under-21. A job that rewards also 'Inter in continuity with the great Facchetti today would be proud to see what was a farm worker to enter the' rooms' Uefa when he was at home.<br /><br />inter, uefa e walter gagg:<br />Walter Gagg, Sepp Blatter's right hand man and currently the executive staff of Inter. Salary in effect by Massimo Moratti.<br /><br />phone interception<br />Facchetti (inter presidernt)-De Santis (referee), March 24, 2005<br /><br />Facchetti: Maximum<br />De Santis: How are you Hyacinth?<br />Facchetti: Well, are you?<br />De Santis: I must compliment you well, you interests of arbitrators ...<br />Facchetti: Eh ... we'll see, but I know that we are involved in many of ...<br />De Santis: And okay, all are interested, now is the topic of the day<br />Facchetti: Already in Paris?<br />De Santis: No, I leave tomorrow morning<br />Facchetti: Why I called Gagg Bla ... uh, is there too<br />De Santis: Oh, Walter is in Paris? "<br />Facchetti: It also comes with with him ... and told me that I wore my regards.<br />De Santis: Oh yes, otherwise I give them to him.<br />Facchetti: Anyway come to say goodbye<br />De Santis: Were you happy ... It was well chosen place: France-Switzerland is interested in both, those who in one way for the other ...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-57048552868716638362010-08-30T05:43:14.622+02:002010-08-30T05:43:14.622+02:00@SwissRambler
I did mean to state the contract wa...@SwissRambler<br /><br />I did mean to state the contract was extended an additional 2 years, thanks for clarifying. Keep up the good work.Money Covershttps://www.blogger.com/profile/11631204189043585003noreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-13558967926857451282010-08-29T12:51:55.253+02:002010-08-29T12:51:55.253+02:00your excellent financial analysis deserves an unco...your excellent financial analysis deserves an unconditional praise. <br /><br />there's only one indirect (I mean, not depending on your effort) limit I see in that: top flight italian football teams are generally known to be managed by resorting to several off-balance sheet items. <br /><br />eg I mean that a significant part of players' wages and other liabilities are paid via bank accounts in tax havens (the italian IRS demands the 50% of professional players' *official* wage, more or less). <br /><br />As a consequence financial statements don't provide a true and fair view; moreover, comparisons between clubs are difficult because the relevance of these "unofficial" items is different among different clubs.gianninoreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-66854775598194642742010-08-29T09:30:10.368+02:002010-08-29T09:30:10.368+02:00I wish I could write stuff this good.
I wish the ...I wish I could write stuff this good.<br /><br />I wish the Guardian would list my blog in "what we liked this week"<br /><br />I wish, I wish...<br /><br />Tony AttwoodTony.attwoodhttps://www.blogger.com/profile/09840065596517485083noreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-46817066053275020482010-08-27T23:55:52.044+02:002010-08-27T23:55:52.044+02:00@Money Covers,
In your example, the player's ...@Money Covers,<br /><br />In your example, the player's cost of 15m will be amortised at 3m a year, as he has a 5 year contract, so after 3 years the total amortisation will be 9m and the carrying value in the accounts will be 6m.<br /><br />It's not clear in your example whether the contract re-negotiation for a salary increase also means that his contract is extended for a further 2 years, but that would make sense give the 4 years you mention in the question.<br /><br />Assuming that is the case, the remaining 6m would then be amortised over 4 years at a lower rate of 1.5m a year.<br /><br />If it is only a salary increase without any contract extension, there would be no impact on the annual amortisation, which would remain at 3m a year.<br /><br />Hope that makes it a little clearer.The Swiss Ramblerhttps://www.blogger.com/profile/11423088862174893998noreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-88208918326827230272010-08-27T09:53:58.015+02:002010-08-27T09:53:58.015+02:00This comment has been removed by the author.The Swiss Ramblerhttps://www.blogger.com/profile/11423088862174893998noreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-86559605274745918662010-08-27T07:05:24.226+02:002010-08-27T07:05:24.226+02:00SwissRambler, awesome site, I'm really enjoyin...SwissRambler, awesome site, I'm really enjoying it, although the posts are a bit short...<br /><br />I see you answered part of my question already in Robert's question, but I'll try to further complicate it since I am also interested in how clubs use amortization. <br /><br />Lets say player A is bought for 15mm and signed to a 5 year annual contract of 4mm (total 20mm). After 3 years, the player is re-negotiating the contract and agrees upon a 4.5mm annual contract. Would the remaining 6mm of the amortized cost be stretched over 4 years now?<br /><br />Keep up the good work!<br /><br />(And if you ever get the urge to delve into the MLS, I'll be your first reader)Money Covershttps://www.blogger.com/profile/11631204189043585003noreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-38915353162650187582010-08-26T23:01:02.892+02:002010-08-26T23:01:02.892+02:00@Robert,
1. Where a contract is extended, any una...@Robert,<br /><br />1. Where a contract is extended, any unamortised costs together with the new costs relating to the contract extension are amortised<br />over the term of the new contract. In any case, I'm not sure that any player would sign a contract for 1-2 years (unless there was a considerable signing-on fee).<br /><br />2. Where the purchase of a player involves a non-cash consideration,<br />such as a player exchange, the transaction is accounted for using an estimate of the market value for that player. That is open to some manipulation, but not too much, otherwise it would be questioned by the auditors.The Swiss Ramblerhttps://www.blogger.com/profile/11423088862174893998noreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-21528802352669995292010-08-26T22:55:38.354+02:002010-08-26T22:55:38.354+02:00@EuropeanBear,
Thanks. I did not know that about ...@EuropeanBear,<br /><br />Thanks. I did not know that about Twente.The Swiss Ramblerhttps://www.blogger.com/profile/11423088862174893998noreply@blogger.com