City & FFP | 2020/21 Accounts released | Revenues of £569.8m, £2.4m profit (p 2395)

freshie said:
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This may not be as exciting as it could be.

It was reported a couple of weeks ago that there are a lot of transfers being investigated for tax fraud (or something). They include the Danilo and Cancelo deal.

It appears to be entirely internal to Italian tax, and there didn't seem to be any indication that it was anything more.
 
paulchapo said:
It seemed pretty legit to me. They got Danilo and some cash, we got Cancelo in return.
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I think the issue could be how much they were both valued at in the deal.
Danillo was valued at 35m when realistically wasn't worth more than 20m and Cancelo at 60m, which was very excessive at the time - although this season he is showing he would be worth that.
 
117 M34 said:
I think the issue could be how much they were both valued at in the deal.
Danillo was valued at 35m when realistically wasn't worth more than 20m and Cancelo at 60m, which was very excessive at the time - although this season he is showing he would be worth that.
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I don't see that's a legal issue. A player is worth what a club values him at. Nobody has to pay it
 
paulchapo said:
I don't see that's a legal issue. A player is worth what a club values him at. Nobody has to pay it
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Nobody did pay it but he went on Juve's books an inflated value that is the issue. It is not an arms length transaction when players are part exchanged and values can be fiddled. A bit like Enron.
 
MillionMilesAway said:
This may not be as exciting as it could be.

It was reported a couple of weeks ago that there are a lot of transfers being investigated for tax fraud (or something). They include the Danilo and Cancelo deal.

It appears to be entirely internal to Italian tax, and there didn't seem to be any indication that it was anything more.
Click to expand...
Both players seemed to be over-valued by around €20 million when the swap deal was arranged although the net fee €28 million paid by City seemed to be fair value.

It made no significant difference to City but it certainly did for Juventus. The extra €20 million received for Cancelo would go straight into their funds, while the extra €20 million they paid for Danilo could be spread over the length of his contract.

Having said that the €65 million fee that City were reported to have paid for Cancelo is looking more and more of a bargain with each passing week this season.

Having said that, it is going to be next to impossible to make anything stick in such situations unless Juventus have been very sloppy with their paperwork.
 
I still find it odd how Chelsea sold sideshow for 50million to PSG, the same price Chelsea bought a few years earlier.
Than the next season Chelsea bought sideshow back for 50million.
Two Russian own clubs doing business like that seem odd to me.
Sideshow has never been a 50million player
 
give it to gordon said:
I still find it odd how Chelsea sold sideshow for 50million to PSG, the same price Chelsea bought a few years earlier.
Than the next season Chelsea bought sideshow back for 50million.
Two Russian own clubs doing business like that seem odd to me.
Sideshow has never been a 50million player
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Very dodgy that one I agree. Wonder if it’ll get looked into though? Expect all our transfers since the takeover to be scrutinised now they’ll be after another way to nail us no doubt
 
JGL07 said:
Both players seemed to be over-valued by around €20 million when the swap deal was arranged although the net fee €28 million paid by City seemed to be fair value.

It made no significant difference to City but it certainly did for Juventus. The extra €20 million received for Cancelo would go straight into their funds, while the extra €20 million they paid for Danilo could be spread over the length of his contract.

Having said that the €65 million fee that City were reported to have paid for Cancelo is looking more and more of a bargain with each passing week this season.

Having said that, it is going to be next to impossible to make anything stick in such situations unless Juventus have been very sloppy with their paperwork.
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Agreed that the values looked over the top at the time. I assumed that it was a FFP fudge which suited both and had an acceptable net payment.

The issue here is around 50 transfers and how swap deals are being used and put through the books. It's an Italian domestic matter.
 
give it to gordon said:
I still find it odd how Chelsea sold sideshow for 50million to PSG, the same price Chelsea bought a few years earlier.
Than the next season Chelsea bought sideshow back for 50million.
Two Russian own clubs doing business like that seem odd to me.
Sideshow has never been a 50million player
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PSG owned by Qatar
Chelsea bought him for 22.5M Jan 2011
sold him to PSG 44.5M July 2014
bought him back for 31.5M Aug 2016
sold him to Arse 7.83M Aug 2019
 
The BBC are reporting that UEFA have sanctioned eight clubs for FFP breaches, all for "non-compliance with the 'no overdue payables' requirement". Barcelona are not among these eight clubs. Am I right in thinking that they did not pay players wages on time for much of last season? Or are they not overdue payables?
 
StillBluessinceHydeRoad said:
The BBC are reporting that UEFA have sanctioned eight clubs for FFP breaches, all for "non-compliance with the 'no overdue payables' requirement". Barcelona are not among these eight clubs. Am I right in thinking that they did not pay players wages on time for much of last season? Or are they not overdue payables?
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I guess as long as they've paid the outstanding amounts by the end of the accounting period they'll be ok
 
Bald fraud said:
Matter of time before we were roped into it I suppose. Get ready for more cheats accusations
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I don’t see how they can rope in city here but never say never. City didn’t inflate Danilo’s price and paid inflated juve ‘s asking price.Maybe city should be getting back the difference after they figure out the market value at that time.
So it’s the Italian job , again.
 
StillBluessinceHydeRoad said:
The BBC are reporting that UEFA have sanctioned eight clubs for FFP breaches, all for "non-compliance with the 'no overdue payables' requirement". Barcelona are not among these eight clubs. Am I right in thinking that they did not pay players wages on time for much of last season? Or are they not overdue payables?
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I think they reached an agreement with all of the players, so even if it counted as 'Overdue Payables' it would be set aside. I think that phrase more relates to transfer fees when paid in stages, although it may include not paying the meat pie supplier I suppose.

Oh, and the tax man which seems to be a country pastime there.
 
Whilst we’re on about Barcelona and FFP, they think they can get x a season(below) for the Nou Camp naming rights.

Barceloan also want to borrow €1.5bill Euros to redevelop the Nou Camp and surrounding area.

Naming rights​

The club hope that selling the naming rights to the stadium will also help pay for the project sooner. Reverter believes that overall the new Espai Barca will provide at least 200 million euros of additional revenue every year, possibly even double that depending on the naming rights.

www.marca.com

Barcelona to play second season of construction work away from Camp Nou

Barcelona on Wednesday presented plans which, if ratified by members, will see a huge redevelopment of the Camp Nou and surrounding area which will take four years to complete and
www.marca.com www.marca.com

€400 mill a season for the Nou Camp naming rights. Good one!
 
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