Italian Journalist Marco Belinazzo: “Suning Want To Continue As Inter Owners As They Believe Future Scudetto Can Increase Value Of Club”
Italian journalist Marco Bellinazzo believes that Inter owners Suning are fully committed to the Nerazzurri and believe that their continued ownership of the club can reap financial rewards.
Speaking to Italian broadcaster Radio Nerazzurra, as reported by FCInterNews, Bellinazzo explained that for Suning the prospect of a new stadium in Milan and of a future Scudetto can increase the value of the club.
Suning’s financial troubles have led to reports that the Chinese company could look to sell the Nerazzurri, with reports of a sale to the Saudi PIF being close coming out last month.
However, Bellinazzo believes that the Chinese company are pressing forward with a plan to continue in their ownership of the Nerazzurri.
He is of the view that Suning’s primary motive to stay on as Nerazzurri owners is that they believe that the club can be brought to a point where its value is increased.
The journalist began by speaking of the drop in revenues at the club, stating that “It is the consequence of the cleanup operation of the previous budget, of the termination of some sponsorship contracts from Asia which will have to be replaced by others.”
“This is part of what has happened in the last two years,” he went on, “it is partly because of the pandemic, and partly because of the well-known financial problems at Suning.”
Of the Nerazzurri owners, he stated that “They to move forward, it makes sense given the economic logic that the owners are looking for the go-ahead for the new stadium, and also know that with another Scudetto a possibility the club’s value would further increase.”
Bellinazzo also spoke about the capital gains controversy in Italian football, stating that “At the moment there are two issues.”
“There is a structural problem linked to the stability of Italian football, which is linked to the use of capital gains to make up for losses from before COVID,” he explained.
“On the other hand there is the investigation that is centred around Juventus,” he went on. “For some time I have said that this element of capital gains is critical because we have seen how it has become second only to television rights for revenues.”
“In the immediate future, the ‘mirror’ exchanges in particular have benefits to the clubs,” he explained.
“You have a surplus of revenues,” Bellinazzo elaborated, “but then the costs spread across the so-called depreciation. So the initial benefit is followed by costs for subsequent years, which compound to others and can lead to bankruptcy, if there are no resources and capital put in by the owners.”
He gave the view that “This must be solved with a regulatory change that discourages the shortcut of using capital gains, given that we are talking about something lawful and that represents legitimate practice as far as buying and selling footballers.”
“We need to take the opportunity to clean things up,” the journalist stated, “not like what happened in 2018 with Chievo Verona.”
“The criminal investigations of the past have all come to nothing because the values of players are subjective,” he continued, “we are not talking about the price listing of a house where the value can be estimated by looking at the square footage.”
“At least in cases like that there is at least a reference value,” he went on.
Bellinazzo explained that “This is, unless a spoking gun is uncovered by the investigation, an intercepted correspondence that can testify to a knowingly malicious operation whereby a player who could have been traded at one was traded at ten to make ends meet.”
“If you see transactions occurring where money does not in the end change hands you can guess that it is a favour between clubs,” the journalist went on.
“This is obviously a clue but it does not conclusively prove anything because the manager will tell you that according to him the player is worth more for certain technical characteristics,” he went on.
“And this cannot really be disputed by a prosecutor,” he explained. “They can investigate but this is an insurmountable obstacle, unless the jurisprudence changes and a prosecutor can determined how much a player is worth.”