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Thread: CL or Bust this Season. Or is it?

  1. #21
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    Quote Originally Posted by ForzaMancini View Post
    We can always just sell Icardi when we are in need of money.
    Yeah, fuck that dude. He likes fucking his wife or something. Very annoying.
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  3. #22
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    Quote Originally Posted by bandiera View Post
    Key point in your article is that we won't break if we don't finish top 3... As you mentioned, it will force the need for a big sale to balance the books. Accounting aside, our losses will be even larger because of amortized transfer spending and the increased wage budget. Don't forget about transfer spending next summer.

    Lastly, our books are heavily dependent on qualifying for UCL. This isn't a good thing because I don't think it'll be a sure bet next season even if we do it this year.
    All that has been factored (including increased amortisation costs, increase wage bill, and next summers spending) into my analysis above.

    While our future growth is dependent on regularly qualifying for the CL, like any big club, this analysis shows that we can sustain a similar transfer strategy to this summer for a few seasons even if we do not qualify for the CL every year. It looks much better than this time last year, ET is being reasonably smart with the finances.

    If we do qualify for the CL this season, I suspect Thohir will approve another big spend (€100m-ish) next summer in order to sustain our league position as well as attempt to get further than the group stage in the CL. From the analysis above, it looks likely that he will be able to do this and meet FFP obligations.

    If we don't qualify for the CL this season, we will probably sell someone like Icardi to fund a big spend next summer.

    I am satisfied with the progress we have made from a financial point of view. It will be interesting to see last years accounts to see if the starting point I assumed (based on media reports) is more or less accurate or not.

  4. #23

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    Quote Originally Posted by Bluenine View Post
    All that has been factored (including increased amortisation costs, increase wage bill, and next summers spending) into my analysis above.

    While our future growth is dependent on regularly qualifying for the CL, like any big club, this analysis shows that we can sustain a similar transfer strategy to this summer for a few seasons even if we do not qualify for the CL every year. It looks much better than this time last year, ET is being reasonably smart with the finances.

    If we do qualify for the CL this season, I suspect Thohir will approve another big spend (€100m-ish) next summer in order to sustain our league position as well as attempt to get further than the group stage in the CL. From the analysis above, it looks likely that he will be able to do this and meet FFP obligations.

    If we don't qualify for the CL this season, we will probably sell someone like Icardi to fund a big spend next summer.

    I am satisfied with the progress we have made from a financial point of view. It will be interesting to see last years accounts to see if the starting point I assumed (based on media reports) is more or less accurate or not.
    bluenine, this is what i can gather from your posts:

    if we don't qualify for CL, it will be easy to continue to comply with FFP. however, the only way to reinforce the team and spend a lot of money while continuing to comply with uefa regulations is to make a really big sale. this can be a big hit to our squad quality. accounting aside, our losses will still be a massive issue and thohir will have to cover them as he has done over the past 3 years. if he wants to use "organic cashflows" and if he doesn't want to cover them himself, correct me if i'm wrong, but we'll have to make two really big sales.

    if we qualify for CL this year (and this should also be valid for qualifying for CL next season in the last case), we will obviously be in compliance with FFP and our losses will be covered by CL revenue. there is the question of how much money we can spend on reinforcements. qualifying for CL once doesn't necessarily mean you will do it again especially if our competitors (napoli, roma, milan) reinforce. you're saying FFP would be easy to deal with even if we spend 100 mill. however, the money for another splash would have to come out of a big sale and thohir's pocket because CL revenue would be going towards our losses. if thohir doesn't want to sell key members of the team and he doesn't want to spend too much of his own money, then there are very reasonable questions re how we will improve in the short term. i don't believe this team is good enough to cope with 50-60 games in a season.

    it's normal when the future growth of an ambitious club is dependent on regularly qualifying for europe, but it's abnormal and a bit dangerous when the financial health of a club is dependent on qualifying for CL when they haven't been in that competition for 4 years..
    Last edited by bandiera; 18 Sep 15 at 20:45.

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    Quote Originally Posted by bandiera View Post
    bluenine, this is what i can gather from your posts:

    if we don't qualify for CL, it will be easy to continue to comply with FFP. however, the only way to reinforce the team and spend a lot of money while continuing to comply with uefa regulations is to make a really big sale. this can be a big hit to our squad quality. accounting aside, our losses will still be a massive issue and thohir will have to cover them as he has done over the past 3 years. if he wants to use "organic cashflows" and if he doesn't want to cover them himself, correct me if i'm wrong, but we'll have to make two really big sales.

    if we qualify for CL this year (and this should also be valid for qualifying for CL next season in the last case), we will obviously be in compliance with FFP and our losses will be covered by CL revenue. there is the question of how much money we can spend on reinforcements. qualifying for CL once doesn't necessarily mean you will do it again especially if our competitors (napoli, roma, milan) reinforce. you're saying FFP would be easy to deal with even if we spend 100 mill. however, the money for another splash would have to come out of a big sale and thohir's pocket because CL revenue would be going towards our losses. if thohir doesn't want to sell key members of the team and he doesn't want to spend too much of his own money, then there are very reasonable questions re how we will improve in the short term. i don't believe this team is good enough nor does it have enough depth to cope with 50-60 games in a season.

    it's normal when the future growth of an ambitious club is dependent on regularly qualifying for europe, but it's abnormal and a bit dangerous when the financial health of a club is dependent on qualifying for CL when they haven't been in that competition for 4 years..
    What I am saying is:

    1. If we don't qualify for CL, we will still meet the FFP criteria due to expiring contracts. But we may sell a big player (like Icardi) to fund another buying spree like this summer.

    2. If we qualify for the CL, we may still sell someone like Icardi to fund transfers, but only to match cash flows. But in this case, we actually have a chance to become a profitable club as soon as next year!

    Inter are are loss making club - assumed losses last year of €55m. Thohir must have covered that by reinvesting or debt, otherwise Inter would have been thrown out of Serie A. The idea is to reduce our losses to €30m this financial year, and further reduce to €15m next year. Presumably, Thohir will also cover those losses as well.

    However, based on this summer, looks like Thohir does not want to invest more money into the club to fund transfers - i.e. only use our organic cash flows for transfers. So we are only allowed to spend what is in the bank account - this has nothing to do with what profits or losses we make as a business. Which explains the "Inter formula" which does not help us much from a FFP (or profit) point of view, but allows us to buy players without having the money in our bank account.

    That is not the only way to do business, of course. If Inter make it to the CL, for example, Thohir may be willing to spend that CL money "in advance" with via giving Inter a short term loan (i.e. fuck organic cash flows). Most clubs do that. The profitability could still be the same.

    What that article shows is that Thohir is working very seriously on our accounts - i.e. reducing our losses. If he manages to achieve these targets, then it will be an amazing transformation. We were in financial HELL when Thohir took over. Now there is light at the end of the tunnel. And because of this, we are not as dependent on CL revenues as we thought. There is no "bust", financially speaking.

  6. #25
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    I'd gladly trade Icardi for Lacazette plus an AM or a more creative midfielder.

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    Yeah, but we are not really that good at selling and however buys Icardi for more money than we would buy Lacazette is fucking retarded.
    Quote Originally Posted by JJM View Post
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    Quote Originally Posted by Shaun View Post
    If Icardi is ever sold for 110m euros i'll stop watching football and promote Pimp to moderator.

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    Quote Originally Posted by wera View Post
    Yeah, but we are not really that good at selling and however buys Icardi for more money than we would buy Lacazette is fucking retarded.
    Same as Kova - K-Dog. We can sell Icardi for, say, 50M and spend much-much more no probs as the money we're getting will offset yearly amortisation of all new arrival's transfer fees and wages.

    So selling Icardi we could easily buy Lacazette for even 60M and then some more.

    You can read Bluenine's post about the profit and loss specifics.

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  11. #28
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    Now I hear that the losses last year are closer to €90m instead of their earlier reported €55m. What the fuck is going on at the club??!

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    Maybe that's why Fassone got the boot.
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    Quote Originally Posted by Bluenine View Post
    Now I hear that the losses last year are closer to €90m instead of their earlier reported €55m. What the fuck is going on at the club??!
    Thohir today rubbished these rumours of €90m losses as fantasy. Lets wait for the results next month. #fingerscrossed

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    This is more on expected lines. Inter seem to have made some good progress. However I wouldn't read too much into the "positive operating profit" statement - thats just a "feel good" statement, as for football clubs EBITDA is not as relevant (due to high amortisation costs).

    To summarise, we are on track.

    Inter have announced a net loss of more than €45m for 2014-15, but President Erick Thohir says ‘we’ve worked well in the market.’

    The club announced this morning that they have made a loss of €45.3m over the last year, but non-recurring expenses for previous coaching staff, player contracts on Financial Fair Play obligations reportedly mean the real figure is €74m.

    However, Thohir is convinced that the figures show that the club is heading towards a positive future, while discussing a new sponsor.

    “The financial results for 2015 show that we are leading the club and our business in the right direction,” he said at a Press conference.

    “The commercial revenues are growing and our operating profit (EBITDA) is positive, an important achievement for the club.

    “We will continue with our strategy to build a successful team on the field and a solid business off the pitch, of course, aware of the need to respect the parameters of the Financial Fair Play.

    “There have been allegations about new sponsors. We worked well in the market. We will make new signings only if the team really needs it, there will be no unnecessary purchases.

    “We have built a strong team, the goal is the Champions League. We are sure to meet the obligations imposed by UEFA.

    “We believe in the Mancini’s project - we have some weaknesses, but we will grow.”

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    Wasn't the predicted loss a lot more

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    Kova sold for 29mil
    Hernanes for 11mil

    K-Dog bought for 31mil
    Perisic 16mil
    Melo 3,7mil

    Official numbers
    http://img-comment-lol.9cache.com/me...25_700wa_0.gif

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  21. #34
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    Where are the numbers from?

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    Quote Originally Posted by thatdude View Post
    Where are the numbers from?

    http://www.fcinter1908.it/in-evidenz...pereira-163892
    http://img-comment-lol.9cache.com/me...25_700wa_0.gif

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    Quote Originally Posted by JJM View Post
    Kova sold for 29mil
    Hernanes for 11mil

    K-Dog bought for 31mil
    Perisic 16mil
    Melo 3,7mil

    Official numbers
    Good buying, thought Kova would of gone for more or are the bonuses not included

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    Quote Originally Posted by ScottishInterista View Post
    Wasn't the predicted loss a lot more
    Yes and no. The earlier predictions ranged from €50m to €90m! But even today after the presentation, I have heard numbers from €45m to €100m. There seems to be some ambiguity around how much loss we have made. I couldn't say for sure until I get a look at the annual report or P&L.

    The way I understand the numbers from the above article is that Inter have made a loss of €45m, but what they have done is recognised a lot of contingent liabilities as well which increases the loss to €74m.

    What are these contingent liabilities? These are costs that we are bound to pay in 2015-16, stuff like Mazzarri's contract, interest rates and one time costs on the club’s refinancing, etc. So Inter have made provisions in last years accounts even though we will pay these this year, i.e. tried to frontload as many of this season’s costs onto the previous year’s books.

    Why did we do that? This is probably because of the agreement with UEFA on the criteria Inter have to meet in 2015-16 to avoid another penalty. It will make our accounts for 2015-16 look unusually good.

    Quote Originally Posted by JJM View Post
    Kova sold for 29mil
    Hernanes for 11mil

    K-Dog bought for 31mil
    Perisic 16mil
    Melo 3,7mil

    Official numbers
    Please share the source. Though these do look like pre-bonus amounts.

  28. #38
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    Quote Originally Posted by Bluenine View Post


    Please share the source. Though these do look like pre-bonus amounts.
    are you blind or to lazy to scroll up?!I forgive you if you are blind...
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  30. #39
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    Yeah, there are probably bonuses added to some of those figures to add up the figures reported initially (Kova 35m€, K-Dog 35m€, Perisic 20m€..)

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