The Suning Commerce Group
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10 years of FIFIf you fall for this, your wife maybe cheating on you.
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10 years of FIFThats just not how this works suning cannot just sell all players and take the cash for themselves on top f that by selling most of inters valuable asstes they d also greatly reduce the price they could possibly get for inter in case of a sale.
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10 years of FIF
Nostradamus
Most Passionate MemberCorriere della Sera sports section = Gazzetta dello Sport
Same ownership, usually same nonsense.
And that ownership is Torino's Urbano Cairo and even Della Valle has a minority stake!
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Forum Supporter10 years of FIFwhat are the laws in italy around paying dividends? You need net positive operating cashflow in the UK (I think??) to post a dividend?
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There is more than one way to extract cash from a corporation.
If I’m h or Zhang, and I have no business assets in Europe or North America, and have cash-flow issues. I’m taking out a shareholder loan. Quickest way to extract cash in the short term with little tax consequences.
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Best Overall PosterThat's bullshit. What Zhang probably said to Marotta, Ausilio and Conte is no player is untouchable and everyone is available at the right price. Conte wasn't willing to lose any of the 6-7 players he considered untouchable and that's why he left.
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10 years of FIFBREAKING NEWS: its reported that every player in the world has a price!
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10 years of FIFHonestly i m not sure if such a law exists but ti would make sense if it did. I know that italian companies who declared a dividend pre covid and then could not pay em out when covid hit still have to follow through and pay eventually, at least such a law was instilled where they say that the shareholder who cannot be paid the promised dividend still holds that claim to the company and they ll have to honour that claim eventually. Now it s possible that these companies were OP CF positive before covid...
Anyways does it really matter? For the chinese to sell all our valuable players and pocket that money through divs would not really make a difference from outright selling the club in terms of how much money they get. There probably is a tax difference but i m not 100% sure how that would be taxed.
Only way this would make sense is if the chinese need 100 some mios and they want to keep a mediocre club that is self sustaining in their pofo.
But again it would make sense for there to be a provision where you cannot pay divs if your op CF is negative. Would be too easy for owners to extract al the value thats left in the entity through divs and then file for bankruptcy if that was allowed.
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Forum Supporter10 years of FIFbut yeah, that's exactly the point i made on the other thread which i got chewed out so much for
selling assets and then selling the club vs selling the club is a zero sum game for the most part. The only bit which isnt, is if we exceed valuation on players - e.g. Lukaku for anything north of 90mil euros IMHO is above market value and understandable why we would take the cash.In the UK, at least:
Dividends
A dividend is a payment a company can make to shareholders if it has made a profit.You cannot count dividends as business costs when you work out your Corporation Tax.
Your company must not pay out more in dividends than its available profits from current and previous financial years.
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There is more than one way to valuate a business. Asset stripping before you sell a business is a very common planning. Any prospective buyer that wants to acquire Inter isn’t only looking at its assets when making a valuation.
Zhang wasn’t able to get his price so he will sell the players he can and then sell the club.
The fact that he is selling what he can, not renewing player contracts, and is unwilling to reinvest to make the club competitive are all indications that he is cashing in
Zhang wasn’t able to get his price so he will sell the players he can and then sell the club.
The fact that he is selling what he can, not renewing player contracts, and is unwilling to reinvest to make the club competitive are all indications that he is cashing in
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10 years of FIFAsset stripping is common, but it still needs to conform to the laws.
We can rule out dividends as the club is not profitable, we can also rule out any other changes to the capital structure since the club is taking up a lot of loans and it's the standard to have covenants that prevent this kind of changes.
They are probably cashing in, but this is not it.
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Why does it need to conform to the law. Zhangs assets and residence is in a jurisdiction that the European tax authorities can’t touch.
Also proceeds from sale of players generates profit. If it’s a capital asset , which in most jurisdictions is taxed more favourably, a portion is untaxed and can be paid out tax free.
Your saying that the business doesn’t have enough safe income i.e after tax profit to pay a dividend. But in this transfer window alone they generated 200 million. They can pay an inter corporate dividend which is usually not taxed to their holding company. Then can loan out the money to China or some other way. By the time the books get reassessed or audited Zhang is in china and has given the finger.
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10 years of FIFInter Milan is an Italian company and hence conforms to Italian laws.
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And what’s going to happen if they hypothetically pay an intercorporate dividend to their parent company that exceeds their safe income? It will be re- characterized with penalty and interest only after its paid out of the parent.
The shareholder is in China so he can’t be criminally prosecuted.
Tax rules are broken all the time. And the major penalty is you pay more. Shareholder liability won’t matter when you are beyond reach.
Also Didn’t inter CFO resign this year? Big flag
This part depends on the relation of the two involved country. There might be a mutual agreement about extradition.
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10 years of FIFThey most likely can't. Generally, the stakeholders (Oaktree, bond holders, etc...) will need to be informed and consent for the transaction to go through.
In extremely cases, this could mean giving up their ownership at Inter which is not worth it. What ever amount of money they can get out this way will be less than the money they can get from selling Inter in one piece.