tag:blogger.com,1999:blog-487486960623783530.post1384110615163739257..comments2024-02-29T09:58:18.342+01:00Comments on The Swiss Ramble: Fiorentina - The Most Profitable Club in Serie AThe Swiss Ramblerhttp://www.blogger.com/profile/11423088862174893998noreply@blogger.comBlogger16125tag:blogger.com,1999:blog-487486960623783530.post-9213089238341420632011-04-22T04:41:11.841+02:002011-04-22T04:41:11.841+02:00another quality read.
http://91mins.blogspot.com...another quality read. <br /><br />http://91mins.blogspot.com/Vinskaxhttps://www.blogger.com/profile/10863298269956294166noreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-54657163174109313552011-04-15T03:48:03.550+02:002011-04-15T03:48:03.550+02:00good article. i recently bumped into the deloitte ...good article. i recently bumped into the deloitte football financial review. the total operating loss figure looks enormous. do you think EPL is self-sustainable?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-46313213677451146862011-04-10T03:01:25.673+02:002011-04-10T03:01:25.673+02:00A club may get rid of its debts when "restart...A club may get rid of its debts when "restarting" from lower divisions, but worse than that they also lose their history.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-25734105466219422862011-04-08T13:46:08.333+02:002011-04-08T13:46:08.333+02:00Great article as usual this is one of the best foo...Great article as usual this is one of the best football blogs on the web. Can I ask where do you get all the clubs financial data from?Unknownhttps://www.blogger.com/profile/07842783383808606914noreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-26116578855378586802011-04-06T15:22:05.870+02:002011-04-06T15:22:05.870+02:00@Anonymous (3:12),
Thanks. I put together the tab...@Anonymous (3:12),<br /><br />Thanks. I put together the tables and graphs myself using a variety of sources.The Swiss Ramblerhttps://www.blogger.com/profile/11423088862174893998noreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-72774084103227767022011-04-06T15:21:12.931+02:002011-04-06T15:21:12.931+02:00@forst,
Yes, the data is old (running up to 31 De...@forst,<br /><br />Yes, the data is old (running up to 31 December 2009), but in fairness these are the latest published accounts and were the ones used in the survey published by La Gazzetta two weeks ago.<br /><br />As you say (and indeed as I emphasised in the article), these figures were boosted by European revenue and player sales, so the absence of these two factors in the next accounts will be keenly felt.The Swiss Ramblerhttps://www.blogger.com/profile/11423088862174893998noreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-62228970180178228692011-04-06T15:12:19.324+02:002011-04-06T15:12:19.324+02:00Hi there, it's a nice and accurate report, but...Hi there, it's a nice and accurate report, but sadly it's based on old data.<br />Fiorentina has had a couple of years of great profit, with more than decent performances in UEFA matches (Uefa Cup and Champions League) both providing income from TV, tickets and whatsoever. Also, we have to add a couple of very profitable player transfers (Felipe Melo to Juventus for 25M €).<br />Currently, though, Fiorentina has the fifth (maybe sixth) wage budget in serie A while having no revenues from Uefa competitions (both this season and next), with the team captain probably being sold for less than 8M € (Montolivo, contract expiring in 2012).Brett Peathttps://www.blogger.com/profile/10162860879112862960noreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-54893492874478913012011-04-06T13:41:28.339+02:002011-04-06T13:41:28.339+02:00Hello! Great reading, from where do you get all ta...Hello! Great reading, from where do you get all tables? It would been very interesting looking some more at them!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-63335657633353421372011-04-06T13:12:33.481+02:002011-04-06T13:12:33.481+02:00Great blog, I really enjoy your analysis.
Greets f...Great blog, I really enjoy your analysis.<br />Greets from Italydavidehttps://www.blogger.com/profile/18069506630022087525noreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-35090895728332669972011-04-05T16:31:33.060+02:002011-04-05T16:31:33.060+02:00Cheers Kieron, much appreciated! :)
MichaelCheers Kieron, much appreciated! :)<br /><br />MichaelAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-7922408967792723762011-04-05T15:52:26.554+02:002011-04-05T15:52:26.554+02:00Excellent as usual.
I must say that I enjoy more ...Excellent as usual.<br /><br />I must say that I enjoy more reading articles about less popular teams like this one about fiorentina.<br /><br /> Some of the best have been older ones about porto,ajax,lyon and I think It could be very interesting an article for a team from russia like zenit or cska or marseille ,benfica and generally teams from leagues other than serie a,PL or bundesliga<br /><br />Anyway it's a great blogRnoreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-37800774289525706472011-04-04T23:16:09.994+02:002011-04-04T23:16:09.994+02:00Hi Alexander,
Very happy to have helped.Hi Alexander,<br /><br />Very happy to have helped.The Swiss Ramblerhttps://www.blogger.com/profile/11423088862174893998noreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-36256832349027309242011-04-04T23:15:44.250+02:002011-04-04T23:15:44.250+02:00Hi Michael,
There's no doubt that it can be b...Hi Michael,<br /><br />There's no doubt that it can be beneficial for a club (or indeed any company) to seek bankruptcy and "rip it up and start again", though it's obviously not great from a moral perspective, as this invariably leads to creditors only receiving a few pence in the pound for money that they are owed.<br /><br />There are other considerations too:<br /><br />(a) If they are handed a penalty, such as a points deduction or even relegation (leaving aside the semantics) down the leagues, then their income will almost certainly suffer, e.g. the difference between the Premier League distributions and every other division in the Football League is enormous, so that would create its own set of financial difficulties.<br /><br />(b) The new club would almost certainly have to replace most of its playing squad, as the better players would leave, rather than remain with a club that is now playing at a lower level.<br /><br />(c) It might be difficult to replace those players and build a new team, as the football authorities could potentially impose transfer restrictions, as they did with Portsmouth.<br /><br />(d) To make the new beginning worthwhile, the club would require owners/backers with sufficient financial resources to fund a climb back up the divisions. To my mind, this is where the Della Valle family have been most beneficial to Fiorentina, as they have covered substantial losses every year since 2002, except 2009 (when they also injected new capital).<br /><br />(e) Finally, a club will need a bit of luck to get back to where they started, such as the "sporting merit" promotion you mentioned.<br /><br />In Fiorentina's specific case, I think that their position last year as most profitable club in Serie A was partly due to the cleansing of the balance sheet, but was mainly due to a set of happy circumstances combining, i.e. growth in TV money, Champions League revenue and large profits on player sales, plus some old-fashioned sound business management. Clearly, some of this has arisen from success on the pitch as well.<br /><br />However, a couple of these factors did not occur in 2010, so my expectation is that the next set of accounts will show a loss for Fiorentina, which will place them among the majority of Italian clubs.The Swiss Ramblerhttps://www.blogger.com/profile/11423088862174893998noreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-28200448363182753192011-04-04T21:07:16.619+02:002011-04-04T21:07:16.619+02:00Amazing. As a viola fan with a future career in fi...Amazing. As a viola fan with a future career in finance, I've unsuccessfully attempted to find this information. Thank you so much. Your site is a gem.Alexhttps://www.blogger.com/profile/04221279572625934138noreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-7896490816660822552011-04-04T19:27:49.692+02:002011-04-04T19:27:49.692+02:00Hi Kieron, great piece as usual, hope I'm not ...Hi Kieron, great piece as usual, hope I'm not being too pedantic with the formation of the new club.<br /><br />I think the point about being 'relegated' is a little inaccurate, though. Although effectively they dropped two divisions, it really was a case of the old club ceasing to exist completely and the new one getting to 'start' from Serie C2, rather than being relegated as such. There was even talk for one day in August 2002 that the club would have to start in Serie D, which would have been a complete nightmare.<br /><br />Also, the old club was in a terrible state, but most of that was because Cecchi Gori was taking the club's money and using it as his own, with his film interests etc...<br /><br />Also the name wasn't 'stripped' by the Italian FA as such, if I recall correctly it was a legal problem separate from the Italian FA. I think Florentia Viola were going to be called 'Fiorentina 1926' initially, but that was decided to be too risky and too likely to risk a lawsuit. There was, for a while in the first season, a group who were planning to buy the rights to the name 'Fiorentina' and start a new club in addition to FloViola, which would have been a shame as the city is one of those so based around one club - eg Newcastle.<br /><br />The 'sporting merit' was a ludicrous situation. The only decent attempt to portray it as 'justice' I can give is that in the latter days of the old club, Fiorentina supporters were promised that if the club went bust, the 'new' club would start again from one division below where it was, which was Serie C1. When it was placed in C2 it did seem rather unfair after that talk, so the extra push up the leagues made up for that - though it was still a ludicrous decision.<br /><br />An interesting point about when DDV talks about football being his 'hobby' is that when he took over the new club in 2002, he admitted that he wasn't really into football, and had never had any interest in it aside from a couple of breaktime games in the playground. He talked more of doing it 'for the city' then, and seems to have picked up the actual football side of it since! Still, the dissatisfaction from some of the supporters is remarkably ungrateful.<br /><br />The question I wanted to ask was - to what extent is Fiorentina's position as the most profitable club in Serie A result of the old club ceasing to exist and therefore completely cleansing all their own debts in one go? It's a nice parallel that the new club had its first year when (as you mention) the debts in Serie A were at its peak. Had Fiorentina survived and kept on going, it would have had those debts for years and probably would have been in a worse position. In summary - would it be better for a club that is completely buggered financially to just go to the wall and reform if they were guaranteed a position in a decent division (eg Conference level) rather than continuing to tread water?<br /><br />MichaelAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-61845813629085397222011-04-04T15:35:59.529+02:002011-04-04T15:35:59.529+02:00Great article, as usualGreat article, as usualUnknownhttps://www.blogger.com/profile/13800103573021824909noreply@blogger.com