interpersempre.com

AND I WILL PAY...

Moratti: a 40-million check to cover the hole.

The meeting on October 29 he will approve another capital help.  But the deficit is still dropping.

At the home of Moratti, there is one magic word - austerity - if you have forgotten it.  However, the owner of Inter is forced, once again, to sign a heavy check: 40 million euros.  This news was in the notice to the shareholders for a meeting, which is scheduled for October 28 at 6 pm in the evening at the headquarters in Via San Paolo in Milan.  He will need to approve the financial statements which close on June 30 and are related to the 2010-2011.  Not only that he also will need to sign, simultaneously, a check of 40 million euros with the purpose of "covering the losses."  The accounting period, in fact, is expected to close with a deficit of between 55 and 65 million so lending a hand is, once again, needed.  Massimo Moratti has made this a habit.

The costs Taking into account only the last five years, the toy that is Inter costs something like 360.7 million euros (about 367.3 in total recapitalization): Moratti, through International Holding, controls more than 98% of the shares and virtually all the injections of money are weighing on his shoulders.  He put out 70 million during the 2009-2010 season and was down to 40 million 12 months ago.  The same amount for this year.  In the financial statements of the Nerazzurri, the following was posted: "The shareholders have expressed the commitment to the usual support for the future, if necessary, economically and financially.  And the club, on this basis, is prepred these financial statements on a ongoing business."  That said, it doesn't mean Inter are losing sight of the road to recovery.  Just scrolling through these numbers to realize the savings compared to previous years: -206.8 is the deficit for the 2006-2007 season, -148.3 for 2007-2008, -154.4 in 2008-2009, -69 in 2009-2010.  And now, in fact, another loss season of around 55 to 65 million euros.  Of course, we talk of a still out of control management, costs that are disproportionate in respect to the revenue.  But in the past, it was even worst.  Last season, the team saw a significant drop in revenue compared to the record of 2009-2010 season thanks to winning the Champions League and the sale of Ibrahimovic to Barcelona, revenue was as high as 323.5 million euros.  That time, there were also TV revenues, collective sale and awards from UEFA.  The budget that will be approved later this moth will have the 30 million received by the departures of Balotelli and Burdisso.

UEFA calls So selling and cutting salary are the mantra of Moratti as there is no other way to align in the parameters of UEFA's financial fair play.  The bogeyman of this whole thing is to break even which will be the final stage of revolution wanted by Platin which only allows the maximum deficit, in two annual installments, of 45 million euros.  And the year 2011-2012 will be the first to come under technical examination of Nyon.  And Moratti knew that and gave up Eto'o.  the gain of 10 million (yearly salary for Eto'o), but especial the 24 million in additional savings (transfer fee, bonuses) will further improve the accounts of this club for the budget of 2011-2012.  Small steps toward financial stability.

Source: Gazzetta dello Sport