Exactly. We sold Pinamonti for huge value to create plusvalenza. It doesn't matter if we have counter-option and we used that. The point is we created artificial plusvalenza with the sale. That's the whole point of this issue. Creating artificial plusvalenza.
But that does matter. In sham transactions, the auditor is analysing the true nature of the transaction, who fiscally benefited, and the business purpose.
Allegedly in the Pinmonte case, he was disposed of for above FMV, and then repurchased for that FMV or above. Actual consideration was exchanged. So whatever tax benefit was obtained was offset.
In the Juve - Barca swap, you have a sham transaction, inadequate consideration, and no real business purpose, since neither player made their clubs more competitive.
Of course these allegations are hard to prove, but essentially the auditors are considering 1) whether a fiscal benefit resulted, 2) did the parties device or disguise the true nature of the transaction, and was 3) there a bona fide business purpose.
I think this will all depend on the evidence the auditors have in their possession.
If for example, there was evidence to show that Juve was demanding 20 million for Pjanic and he was disposed of for a valuation of 50 million than that's a solid case and similar for Arthur, if Barca was shopping him around for 20 million and 2 months later sold him for a valuation for 30 plus million that will show he was disposed for above FMV.