Inter's Financial Situation

[CafeCordoba]

Google translated

#Antonello on the salary: "We will do the accounts at the end of the transfer market. Only then will we evaluate whether to propose to the players a flat salary reduction as Juventus did"

 

[brehme1989]

https://www.chiliz.com/en/terms-conditions/?__cf_chl_jschl_tk__=pmd_05f5a6e3a2dfe2bf4239495f2e80bcade42ca987-1626893496-0-gqNtZGzNAeKjcnBszQi6

I'm loving what I see from Risk Factors and below. Enter at your own.... risk.

 

[CafeCordoba]

My optimistic view over that Chiliz/socios.com shit is that it's a growth company which has a lot of money to spend so they need to market their shit like hell. Financiers expect crypto boom not to die, at least in long-term so they put money to this kind of shit.

Pessimistic view is obviously that Chiliz/socios.com will not make it when the crypto bear market really starts and no one gives a shit about these tokens anymore.

 

[CafeCordoba]

Antonello confirmed the target is to cut salaries by 20%.

That's a tough task for sure.

- we save Hakimi salary (though we need to pay back Growth Decree tax savings as he was at Italy for only one year)
- we save in Kolarov, Ranocchia and D'Ambrosio extensions
- we save in Young -> Dimarco swap
- we save a little in Padelli -> Cordaz swap
- we save in JM and Radja contract terminations (as we paid most of their salaries last season)
- we save a little in Eriksen -> Calhanoglu swap given Eriksen's salary is covered by UEFA/insurance company for now
- we probably won't save much if Vidal contract is terminated as his replacement Nandez will take what is left after the severance pay. Nandez might be replacement for Hakimi and Vidal both
- we need to bump Brozovic, Barella and Lautaro salaries so that will mitigate some savings already done

I think we will end up trying that flat salary reduction what Antonello mentioned (my earlier post).

 

[CafeCordoba]

Ermm, how about checking them out? The google app store is filled with negative reviews.

They are not regulated.

They operate in the crypto field, which isn't really renowned for its legitimacy. And it's football specific. So their target audience is very specific. And not really one that's sophisticated. Yet on their website they claim that their clients are sophisticated (check link I posted earlier)

Socios.com is rated "Poor" with 2.1 / 5 on Trustpilot

Do you agree with Socios.com's TrustScore? Voice your opinion today and hear what 132 customers have already said.

www.trustpilot.com

From here: https://www.scamadviser.com/check-website/socios.com

And if you wanna see something really fishy about the guy who started this... business:

For investigation and inquiries: Malta, Guangying Chen (Heina Chen) and Alexandre Dreyfus

For investigation and inquiries: Malta, Guangying Chen (Heina Chen) and Alexandre Dreyfus

scambinance.com

Now you tell me if this is just a FIF conspiracy or a real concern for the club's image.

So someone is unhappy with Binance and has put up scambinance.com website where they announce some shady details about Binance? Or what are those investigations, something by the officials/police in Europe or what? Malta, crypto, that definitely sounds shady but one can't claim they are laundering/stealing money without ANYTHING to back it up. What I've understood is that

Regarding socios.com as a sponsor, my guess is Inter went with them as they offered the most money right away. Probably that has been imperative to everything else, just get as much dineros as possible right now. That's why 1 year contract with options for more years.

 

[brehme1989]

Binance is getting shut out of every jurisdiction because they were operating there without permission from the regulators. Nothing to do with unhappiness of someone. Are you challenging that the information there is wrong?

 

[CafeCordoba]

No, I'm not challenging that, I really don't have time to check what is written there.

 

[brakbrak]

Antonello confirmed the target is to cut salaries by 20%.

That's a tough task for sure.

- we save Hakimi salary (though we need to pay back Growth Decree tax savings as he was at Italy for only one year)
- we save in Kolarov, Ranocchia and D'Ambrosio extensions
- we save in Young -> Dimarco swap
- we save a little in Padelli -> Cordaz swap
- we save in JM and Radja contract terminations (as we paid most of their salaries last season)
- we save a little in Eriksen -> Calhanoglu swap given Eriksen's salary is covered by UEFA/insurance company for now
- we probably won't save much if Vidal contract is terminated as his replacement Nandez will take what is left after the severance pay. Nandez might be replacement for Hakimi and Vidal both
- we need to bump Brozovic, Barella and Lautaro salaries so that will mitigate some savings already done

I think we will end up trying that flat salary reduction what Antonello mentioned (my earlier post).

He also wants an 80m profit from transfer, Hakimi was like 25m profit? So we need 55m, seems like Inter's garage sale isn't over.

 

[pier]

Antonello confirmed the target is to cut salaries by 20%.

That's a tough task for sure.

- we save Hakimi salary (though we need to pay back Growth Decree tax savings as he was at Italy for only one year)
- we save in Kolarov, Ranocchia and D'Ambrosio extensions
- we save in Young -> Dimarco swap
- we save a little in Padelli -> Cordaz swap
- we save in JM and Radja contract terminations (as we paid most of their salaries last season)
- we save a little in Eriksen -> Calhanoglu swap given Eriksen's salary is covered by UEFA/insurance company for now
- we probably won't save much if Vidal contract is terminated as his replacement Nandez will take what is left after the severance pay. Nandez might be replacement for Hakimi and Vidal both
- we need to bump Brozovic, Barella and Lautaro salaries so that will mitigate some savings already done

I think we will end up trying that flat salary reduction what Antonello mentioned (my earlier post).

I think that's achievable and actually we are close to that number.
To my calculation (feel free to correct me), if we already exclude Nainggolan we already reduced the total annual cost by 14%.

If we are able to offload Vidal, Perisic, Vecino and loaning out Lazaro and Pinamonti we could even save up to 29% in annual cost. Down from €243m to €171m.
Sure, there will be some adjustment from that saving to pay the severance fee for Radja and Vidal. Regarding Perisic and Vecino, their net book value actually low, 3m and 5m respectively, in normal transfer market, it should be easy but not this time. Just like Lazaro and Pinamonti, the issue is the wage which will be borne by their new club.

 

[pier]

He also wants an 80m profit from transfer, Hakimi was like 25m profit? So we need 55m, seems like Inter's garage sale isn't over.

I think you mean capital gain. We get +€28m from Hakimi but thanks to Joao Mario and most likely soon Radja termination, we will register € -6.7m and € -10.6m respectively. Actually, we don't really need to worry about that now, since we get plenty of its last season from Icardi and Pinamonti sale.

 

[brakbrak]

I think you mean capital gain. We get +€28m from Hakimi but thanks to Joao Mario and most likely soon Radja termination, we will register € -6.7m and € -10.6m respectively. Actually, we don't really need to worry about that now, since we get plenty of its last season from Icardi and Pinamonti sale.

View attachment 5536

View attachment 5537

"The objective is to cut the cost of the squad by 15-20 per cent, with a profit of €80m from the transfer market"

This is what Antonello said, not sure if Icardi's sale is part of it as wasn't it on last season's book?

 

[DARi0]

CdS report that the agreement between the Nerazzurri and the blockchain company specifies that while there is an option to extend the deal by a further three years at the end of next season, there is no obligation to exercise it.

Should Inter find a partner who will offer a larger amount than Socios, they are free to agree a deal at the end of the season, at which point they will still remain partners with Socios.com, but with lower financial amounts and without the blockchain company’s logo appearing on the front of the matchday shirt.

> Better start working on it this fall

 

[CafeCordoba]

So it is eventually a pretty good deal. 20m€ + bonuses is the latest number. 1+3 years. If we can get 25-30m€ offer for the 22/23 season, we go with that, otherwise we just continue with socios.com given they are paying us normally.

 

[Candreva Crosses]

CdS report that the agreement between the Nerazzurri and the blockchain company specifies that while there is an option to extend the deal by a further three years at the end of next season, there is no obligation to exercise it.

Should Inter find a partner who will offer a larger amount than Socios, they are free to agree a deal at the end of the season, at which point they will still remain partners with Socios.com, but with lower financial amounts and without the blockchain company’s logo appearing on the front of the matchday shirt.

> Better start working on it this fall

This is really good, I think we all should be satisfied. Who worked this deal out?

 

[.h.]

dont forget with Hakimi we're also saving 10m? or 8m? of amortisation this year as well, so +28m plusvalenzxa = +36m on the balance sheet.

 

[CafeCordoba]

I think you mean capital gain. We get +€28m from Hakimi but thanks to Joao Mario and most likely soon Radja termination, we will register € -6.7m and € -10.6m respectively. Actually, we don't really need to worry about that now, since we get plenty of its last season from Icardi and Pinamonti sale.

View attachment 5536

View attachment 5537

I don't understand how Icardi and Pinamonti sales from last summer affects this summer.

Also the word "profit" might be a translation error or the true meaning of what the ownership wants might be different than plusvalenza. It might mean pure cash also.

 

[pier]

dont forget with Hakimi we're also saving 10m? or 8m? of amortisation this year as well, so +28m plusvalenzxa = +36m on the balance sheet.

Actually, we're saving € 15.600.000 from Hakimi's annual cost. Hopefully we don't waste it on players like Zappacosta or Bellerin.

I don't understand how Icardi and Pinamonti sales from last summer affects this summer.

Also the word "profit" might be a translation error or the true meaning of what the ownership wants might be different than plusvalenza. It might mean pure cash also.

I mean it was for 3-year capital gain summary like on the table attached. I can only assume we are able to use contract termination (which register a lot of capital loss) on several players because we already have a lot of capital gain from the previous season.

Yeah, I also think what Antonello's meant is not the capital gain. The profit term in my previous reply is incorrect. Most likely it's the transfer net.

 

[ADRossi]

Actually, we're saving € 15.600.000 from Hakimi's annual cost. Hopefully we don't waste it on players like Zappacosta or Bellerin.

I mean it was for 3-year capital gain summary like on the table attached. I can only assume we are able to use contract termination (which register a lot of capital loss) on several players because we already have a lot of capital gain from the previous season.

Yeah, I also think what Antonello's meant is not the capital gain. The profit term in my previous reply is incorrect. Most likely it's the transfer net.

Capital losses don't matter on terminated players. The players would be amortized otherwise (regardless of whether we loaned them out or not); terminating their contract means the impact to net income is only the amount of the golden handshake.

This is why setting a target for net capital gains is silly, and unlikely being done by management.

 

[pier]

Capital losses don't matter on terminated players. The players would be amortized otherwise (regardless of whether we loaned them out or not); terminating their contract means the impact to net income is only the amount of the golden handshake.

This is why setting a target for net capital gains is silly, and unlikely being done by management.

I have to disagree, terminating players that still has net book value will make us register a capital loss. At least this is what Calcio de Finanza used.
Unlike loan players where we still have to account their amortization.

Quite obviously targeting 80 net capital gain on this current market is practically impossible.

 

[CafeCordoba]

Yeah, of course capital losses matter. Nainggolan has still almost 10m€ book value in our balance sheet. Terminating his contract, we will make that book value worth of capital loss (minusvalenza). The amount of golden handshake is added those losses. I mean I don't know if it's really added as capital loss, but it's real money we need to pay. We save on salaries, but capital losses will be there.