tag:blogger.com,1999:blog-487486960623783530.post4553502511168446788..comments2024-02-29T09:58:18.342+01:00Comments on The Swiss Ramble: Money's Too Tight To Mention At InterThe Swiss Ramblerhttp://www.blogger.com/profile/11423088862174893998noreply@blogger.comBlogger29125tag:blogger.com,1999:blog-487486960623783530.post-91624446226295263412013-06-13T09:34:26.074+02:002013-06-13T09:34:26.074+02:00Thank you for explaining the situation. An update ...Thank you for explaining the situation. An update after this horrible 2012-2013 season with INTER ending 9th would be very much appreciated.<br /><br />Best regards from Arad, Romania ^^DARi0http://www.legalize.itnoreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-70577141602792978192012-08-01T22:42:08.249+02:002012-08-01T22:42:08.249+02:00Idiot, of courseIdiot, of courseAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-45529341008384515712012-02-20T23:37:42.383+01:002012-02-20T23:37:42.383+01:00Suming down... No Calciopoli => No internaziona...Suming down... No Calciopoli => No internazionale...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-91855354233704522852012-02-09T10:24:05.157+01:002012-02-09T10:24:05.157+01:00hi there.. a very great article..
but i'm wond...hi there.. a very great article..<br />but i'm wondering how you get the financial report of FC Internazionale SpA? is it public available? i'm searching through the web and not found it yet.. as an interista and an accounting student, this report will be very interesting for me..<br />sorry for bad english..Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-9585053062198705492012-01-22T17:53:59.778+01:002012-01-22T17:53:59.778+01:00@Anonymous (8:27),
What I like more than anything...@Anonymous (8:27),<br /><br />What I like more than anything is when I spend days researching an article and then some joker comes along and blandly states that there are errors without providing a shred of evidence to back up his (or her) figures.<br /><br />Wherever possible I have taken the transfer fees from Inter's own published accounts. For example, the fees for Pazzini, Nagatomo and Benedetti are from page 24 of the accounts for FC Internazionale Milano SpA. The exact figures are as follows:<br /><br />Pazzini €19,000,000<br />Nagatono €10,950,00<br />Beneditti €4,112,000<br /><br />I would accept that the fees for Castaignos and Alavarez have been reported at different values in different publications, but Alavarez is often shown as €5.5 million plus €4 million bonus, which is why I opted for €9.5 million.The Swiss Ramblerhttps://www.blogger.com/profile/11423088862174893998noreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-22046424895758644892012-01-22T17:27:13.423+01:002012-01-22T17:27:13.423+01:00there are errors:
Pazzini 12M + biabiany
Alvarez ...there are errors:<br /><br />Pazzini 12M + biabiany<br />Alvarez 5,5M + bonus<br />Nagatomo 7M<br />Castaignos 3M<br />Benedetti 4M?? RidicoulousAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-50130102740035443152012-01-01T23:40:43.087+01:002012-01-01T23:40:43.087+01:00Really great blog! Very insightful. Where do you g...Really great blog! Very insightful. Where do you get the information on Italian clubs' finances, may I ask?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-13365771889365433372011-12-20T18:28:20.784+01:002011-12-20T18:28:20.784+01:00@Anonymous (5:30),
Actually I did refer to the re...@Anonymous (5:30),<br /><br />Actually I did refer to the recent Gazzetta salaries report here: "An analysis by La Gazzetta dello Sport this summer suggested that Milan had overtaken Inter in the wages stakes (at least for the first team squad) with €160 million compared to €145 million".The Swiss Ramblerhttps://www.blogger.com/profile/11423088862174893998noreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-92014646101971790832011-12-20T17:30:29.866+01:002011-12-20T17:30:29.866+01:00Thanks for the great article as usual. But I'm...Thanks for the great article as usual. But I'm wondering why you didn't refer to the recent Gazzetta salaries report. Also, I've heard that Inter had 5 new sponsorhip deals which are long contracts. The club's recent strategy to bring in young players shows their efforts to tighten their belts, however, this article painted somewhat too bleak prospect.:-(Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-82637846371893769682011-12-19T20:23:59.438+01:002011-12-19T20:23:59.438+01:00Peter250, I may have misunderstood you when you sa...Peter250, I may have misunderstood you when you said the following:<br /><br />…eg. Player X is valued at £30m. I'm moneybags albion and I offer you £1m up front for player X (5 year contract). After his first game, I will pay you an additional £20m, after his first goal £10m. First international cap £1m. If we win the league £2m.<br /><br />...Bought a player for a total potential expense of £34m, but the impact on amortisation (and thus relevant expense for FFP) if as above is only £200k per year. <br /><br />Seems open to abuse for me....<br /><br />Yes, the amortisation would be only £200k for each of the five years of the contract. However, assuming the player plays just one game and also scores one goal, the selling club receive a further £30m as part of the performance-related terms of the contract.<br /><br />In that case, either this £30m would be charged in full as an expense for the first year of the contract or, more likely, would also be spread over the length of the contract.<br /><br />In the first case, the buying club would have a huge expense to add to the wages of a £30m player and in the second case would have a normal level of amortisation spread over five years, exactly as happens normally at present.Franknoreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-53410599946744423312011-12-16T10:45:47.420+01:002011-12-16T10:45:47.420+01:00Hopper, great post and nice different view :)Hopper, great post and nice different view :)The March Harehttps://www.blogger.com/profile/02316739157011815683noreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-73161666045034188052011-12-13T16:28:06.785+01:002011-12-13T16:28:06.785+01:00amazing stuff as always, I've been waiting for...amazing stuff as always, I've been waiting for someone to have a proper look at inter. <br /><br />I would take one slight exception with what you were saying above about inter being a selling club because they generate profits from the sale of players, because that kind of gives a kind of misleading impression.<br /><br />As a crude illustration, Say Inter sold Zlatan for €70 million and booked the profit at the start of the 2009-10 season. They also got his €10 M salary off the books. But they then went out and spent every single penny on players over the age of 26, like eto'o, sneijder, milito, motta, lucio, pandev, and quite a few miscellaneous other young players who have vanished without trace. <br /><br />Because of the amortization process, lets say that those players were signed on four year deals, the process looks like €72 million in, only €18 million out in increase amortization payments, but every year for the next four years, and then you get on to the six enormous wage packages that you've added.<br /><br />Because they went straight back out and spent all of the money, on a load of experienced, but expensive players, they got a great short-term shot in the arm, and with some good organization, and a good slice of luck, it paid off immediately with a european cup win.<br /><br />But beyond the first season, it has made the clubs problem of Too many old players, on insanely high salaries worse, and that is killing them on the field, and damaging their ability to rebuild the squad.<br /><br />So the effect of selling zlatan was a short term cash windfall, that was turned into a huge rise in the annual cost of supporting the squad. In the accounts you can see that over two years the wage bill jumped by €50 million (I know that a good chunk was bonuses) in the two years under mourinho, and amortization jumped €30 million, that's €80 million a year extra that the club need to earn to break even. <br /><br />It's an old trick that some football managers use. I like to call it the Harry-Rio gambit in honour of what harry did when he sold rio ferdinand to leeds. They booked a huge profit on selling him, and then harry went out and spent every single penny on the fees of 6 or 7 largely useless players, and their 6-7 wage packets nearly bankrupted the club. So the sale of rio ferdinand went from being A great financial windfall, to nearly destroying the club. <br /><br />But then again jose only did what was asked of him, which was to win the european cup, and he wanted to restore his somewhat tarnished reputation, before getting the hell out of there. What did jose care about what would happen 2 years after he left, when inter would be fielding an insanely expensive team, with an average age of 31, with all of the slowing down, and increased succeptability to injury that that entails.hoppernoreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-68365655383666524952011-12-12T14:35:44.931+01:002011-12-12T14:35:44.931+01:00@Anyonymous (1.58),
Yes, that's right. The va...@Anyonymous (1.58),<br /><br />Yes, that's right. The value of the asset in the balance sheet is reduced by the amortisation charge.The Swiss Ramblerhttps://www.blogger.com/profile/11423088862174893998noreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-88384544448438498972011-12-12T13:58:31.850+01:002011-12-12T13:58:31.850+01:00I've been curious about this for a while - whe...I've been curious about this for a while - when you mention player transfer fees being amortized to Profit and Loss account, is it also that the transfer fees shown as an asset in the balance sheet is reduced by the amount amortized, much like depreciation on immovable assets?<br /><br />Great work btw, I've been following your excellent site for a while now. Never fails to live up to the thoroughness I've come to expect from it.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-8575316434770924632011-12-12T10:26:31.593+01:002011-12-12T10:26:31.593+01:00Hi,
Thanks for the excellent contribution to the d...Hi,<br />Thanks for the excellent contribution to the discussion.Sports bettinghttp://www.worldofsport.co.za/noreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-63632776822900370912011-12-10T00:09:00.603+01:002011-12-10T00:09:00.603+01:00The biggest problems are the old players draining ...The biggest problems are the old players draining the wage bill and the inadequate stadium situation. Both could be solved if the could would want to, however I dont really think that Moratti is in it anymore.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-73373542766263605902011-12-09T20:50:22.621+01:002011-12-09T20:50:22.621+01:00Excellent article. This just confirms what we Inte...Excellent article. This just confirms what we Inter fans feared - that we will be selling 1 or 2 of our stars next summer as well. Inter will need 3-4 years at the very least to build the next championship winning squad and start a new era.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-79832968495397305272011-12-09T12:09:13.523+01:002011-12-09T12:09:13.523+01:00Fantastic article, as always. CongratulationsFantastic article, as always. CongratulationsOCAhttps://www.blogger.com/profile/13630236401621979055noreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-37670820453985679162011-12-08T16:21:13.204+01:002011-12-08T16:21:13.204+01:00Love Inter!!!Love Inter!!!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-84440836924051062762011-12-08T13:44:48.292+01:002011-12-08T13:44:48.292+01:00Hi SR,
Great article, two quick questions if you d...Hi SR,<br />Great article, two quick questions if you don't mind.<br /><br />Firstly, what would happen if Moratti were to leave unexpectantly by choice or otherwise?<br /><br />Would the club be able to continue as a going concern? Their revenue has potential to grow for the reasons you mentioned, it almost makes the balance sheet the important factor in whether the club has capability to the bring itself to a more sustainable level. <br /><br />Secondly, and out of professional interest, could you please explain how the revenue is gross again?<br /><br />ThanksDavenoreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-84296127782571868802011-12-08T10:38:28.422+01:002011-12-08T10:38:28.422+01:00Thank you for the amazing post. As an Interista th...Thank you for the amazing post. As an Interista this is very worrying, just an unbelievable mess in losses these years. Italy is in a really tough spot.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-73238993554551609042011-12-08T09:37:59.059+01:002011-12-08T09:37:59.059+01:00@Frank,
3rd place goes into Champions League play...@Frank,<br /><br />3rd place goes into Champions League play-off round.The Swiss Ramblerhttps://www.blogger.com/profile/11423088862174893998noreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-45754568542064706072011-12-07T21:31:00.685+01:002011-12-07T21:31:00.685+01:00What happens to the club which comes third in the ...What happens to the club which comes third in the Italian League from this season on? Do they have to play a pre-qualifying opponent or two, as Arsenal had to do this season, or do they go straight into the Champions League group stage?Franknoreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-77867545563621855702011-12-07T20:24:53.769+01:002011-12-07T20:24:53.769+01:00@Frank,
Absolutely right. I meant to mention that...@Frank,<br /><br />Absolutely right. I meant to mention that point, which I've included in other blogs about Italian clubs, but for some reason omitted it. I've taken the liberty of amending that paragraph. Thanks.The Swiss Ramblerhttps://www.blogger.com/profile/11423088862174893998noreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-90902774006758068732011-12-07T19:48:07.799+01:002011-12-07T19:48:07.799+01:00Another thing to bear in mind for Inter from now o...Another thing to bear in mind for Inter from now on is that, starting this year 2011/12, the number of Italian clubs allowed to compete in the Champions League has been reduced from four to three.<br /><br />The Bundesliga gets its participation increased from three to four, reflecting the greater comparative success of German clubs than Italian clubs in recent years, notwithstanding Inter's victory under Mourinho.<br /><br />So, the question for Inter this year is will they manage to clamber up the table to at least third place this season.<br /><br />I wouldn't bet on it.Franknoreply@blogger.com