Company "Union Calcio Sampdoria SpA is a company controlled by "Sampdoria Holding SpA, which were sold in April 2003 marks" Sampdoria for a fee of EUR 20 million, with payment in annual installments, on 30 June 2012. The sale marks the recruitment took place at an earlier date of the supervisory role by Sampdoria Holding SpA, in fact, Sampdoria Holding SpA has taken over Union Football Sampdoria SpA in June 2004. The company Sampdoria Holding SpA, after buying the brand, he performed an operation to "lease back" with BPM with Selma in 2005. Sampdoria Holding SpA sold the brands "Sampdoria" society di leasing per un controvalore complessivo di Euro 25 milioni, realizzando una plusvalenza pari a Euro 6.481.695. Il contratto di lease back prevede il diritto in capo a Sampdoria Holding S.p.A. dello sfruttamento dei marchi per tutta la durata contrattuale pari a n. 72 mesi, di cui l’ultimo al 1° luglio 2011. Nel mese di novembre 2007 è stato ridefinito con Selma Bipiemme il contenuto del contratto di lease back, rimodulando l’entità dei canoni periodici, che dal 1° gennaio 2008 sono di Euro 758.337,17 più Iva. E’ stato altresì incrementato da Euro 250.000 ad Euro 4.300.000 più Iva il valore di riscatto dei marchi “Sampdoria” da esercitarsi in unica soluzione alla scadenza del contratto al 1° luglio 2011. According to current rules NOIF mark Sampdoria, for the "sports title is the exclusive right of the subsidiary UC Sampdoria SpA, which participates in professional football leagues organized by the Italian Football Federation and Football League. The relationship with the parent Sampdoria Holding SpA about the "chances of exploitation of the mark Sampdoria." The exploitation of trade marks "Sampdoria", as mentioned above, the contract is awarded to the subsidiary UC Sampdoria SpA
translating what is written in simpler words, we can say that the football club Sampdoria to play the championship with a mark taken in "rent" .
In turn, Sampdoria Holding SpA is a subsidiary of another company called "San Quirico SpA.
The 2009 consolidated financial statements have been prepared by the parent "San Quirico SpA, which at the date of approval of the budget was also retain control of ERG, quoted on the Milan Stock Exchange. Since ERG is a related party of UC Sampdoria SpA, in the annual report to the budget that was specified with the same operations were carried out in compliance with existing rules and based on assessments of mutual economic benefit. These reports cover the top sponsorship, advertising in the stadium and the "Trophy Ravano-Erg. Recall that, according to the regulation of financial fair play, you have to show that these operations are carried out under the "fair value".
The Company, with the participation of its reference, could set up a team of good quality and the achievement of fourth place in the league in 2009/10, with access to the qualifying round of the Champions League, confirms this. In fact, the main shareholder, Sampdoria Holding SpA, has made capital contributions to 18.35 million and served so unprofitable, € 5 million to be repaid in early 2010. In addition, in February 2010, UC Sampdoria SPA ottenuto una linea di credito per 14,5 milioni di euro da Banca Monte dei Paschi di Siena, con scadenza maggio 2011.
L’assemblea dei soci, del 26 aprile 2010, di U.C. Sampdoria S.P.A. ha approvato il bilancio al 31 dicembre 2009, con un perdita di 16.389.970 euro in aumento rispetto a quella del 31 dicembre 2008, che era pari a 5.184.830 euro. Chiudere il bilancio in perdita non è una novità; infatti, anche il bilancio del 2007 chiudeva con una perdita di 3.289.925 euro. La somma delle perdite del triennio 2007-2009 è stata di 24,8 milioni. Tuttavia il regolamento del fair play finanziario, almeno fino alla stagione 2017/18, ammette per le perdite di esercizio delle soglie di tolleranza maggiori: 45 milioni fino al 2014/15 e 30 milioni until 2017/18. So from this point of view, the club Sampdoria plenty of time to rebalance the accounts, but must begin to balance the cost-income ratio.
The causes of the loss is to be found largely in the contraction of about 6 million in revenue, in increasing about 5.5 million in labor costs and higher amortization of the multi-year rights to benefits for about 4 players million euro.
As regards the principle of going concern, or even the ability to meet future commitments, which is one of the key points of regulation of financial fair play, the auditing firm Ernst & Young SpA, the financial report showed that the Company has achieved in the present and in previous years, "significant operating losses" which required recapitalization and that "even for the year 2010, on the basis of forecasts expressed by Directors, the economic and financial balance will depend on the availability of Members expressed support for further financial assistance, which is already partially discharged in early 2010. " So even for society UC Sampdoria SpA, we can say that you are not in the presence of management "virtuous" which is self-financing, but was in the presence of management that requires the patience of his "patron" and / or the trust of credit institutions.
The production value at 31 December 2009 was down 9.52%, from 58.2 million to 52.7 million euro. Revenues from the race amounted to 6.5 million (7.6 million in 2008) and account for 12.32% of production value. The advertising revenue amounted to 3.1 million (3.2 million in 2008) and account for 6%. Income from sponsorships totaled 4.8 million, with an incidence of 9.2% on the value of production also are unchanged from 2008.
television revenues totaled 18.2 million and a decrease of 3.3 million compared al 2008, mentre la percentuale di diritti televisivi da squadre ospitanti risulta pari a 8 milioni e registra un aumento di 2,1 milioni. Le plusvalenze, pari a 7,9 milioni, sono in diminuzione di 1,7 milioni rispetto al 2008. La maggiore ha riguardato la cessione di Hugo Campagnaro al Napoli.
I costi della produzione risultano in aumento del 20,52%, risultando pari a 72,4 milioni (60 milioni nel 2008). Di conseguenza la differenza tra valore e costi della produzione risulta negativa per 19,7 milioni di euro (-1,9 nel 2008).
Il costo del personale ammonta a 37,8 milioni di euro, mentre nel 2008 era pari a 32 milioni di euro, facendo così registrare un incremento del 17,88%. Il rapporto tra costo del personale e valore della produzione, equal to 71.74%, is "warning" against the criteria set by the financial fair play. In 2008, this ratio fell within the parameters being equal to 55.06%.
costs for leases amounted to 1.1 million and include: sports fields for the rental of € 744 000, office rent for 242 000 euro and the rental of vehicles for business use for 137 000 €.
Amortization of intangible assets amounted to 12.9 million increase (41.79%) compared to 9.6 million in 2008. Amortisation of players' registration rights to benefits was $ 12.6 million.
Other operating charges mark the figure of 11.2 milioni, con un incremento del 16,29% sul 2008. La voce più consistente riguarda la percentuale dei diritti televisivi spettante alle squadre ospitate pari a 3,6 milioni di euro.
I costi per servizi risultano aumentati da 7,6 milioni a 8,8 milioni di euro.
La differenza tra proventi e oneri finanziari è negativa per 1,3 milioni di euro (-3,3 milioni nel 2008), a causa di oneri finanziari sostenuti per 3,9 milioni (4,2 milioni nel 2008), di cui 3 milioni riguardano le compartecipazioni.
Il risultato prima delle imposte risulta negativo per 20.984.217 euro, in peggioramento rispetto a quello del 2008, che era negativo per 4.822.912 euro.
Il calcolo delle imposte ha comportato una ripresa positiva per 4.594.247, che also leads to a significant net loss for the year end of € 16,389,970.
intangible assets amounted to € 49.8 million and were up 24.37% compared to 2008. Obviously the most important item on the rights to the annual performance of the players, a voice that was approximately 44 million, an increase of € 10.2 million compared to 2008. Leasehold improvements are on the Sports Center "Mugnaini" Bogliasco, assets amounting to EUR 1.3 million. It also capitalized on the historical archive of images from Sampdoria for 4.5 million euro. The change in the voice of the multi-year rights to the performance of players was determined by investimenti effettuati per l’importo di 28,6 milioni e dagli ammortamenti calcolati per 12,6 milioni. Tra gli investimenti maggiori si segnalano: Pazzini per 9 milioni; Mannini per 7 milioni; Tissone per 6 milioni e Semioli per 4 milioni. Mentre tra le cessioni spicca Hugo Campanaro ceduto per 7 milioni, con una plusvalenza di 6,2 milioni.
Le immobilizzazioni materiali sono trascurabili essendo pari a 102.430 euro. Le immobilizzazioni finanziarie sono pari a 13,4 milioni e risultano in diminuzione del 13% rispetto ai 15,4 milioni del 31/12/2008. In questa voce figurano, per l’ingente importo di 12,9 milioni, titoli obbligazionari “zero coupon” emessi dalla Banca Nazionale del Lavoro, con scadenza marzo 2011. Questi titoli were purchased for 7.7 million and in which there is an aggregate of lien in favor of Banca Nazionale del Lavoro, to guarantee a loan of € 12,910,000 granted Spa Sampdoria UC Sampdoria in 2001 and took over SpA Holding in March 2004.
The current assets amounted to 46 million, an increase of 1, 33% compared to 2008. Most current assets consists of receivables amounting to 44.9 million (43.6 in 2008). Receivables from parent companies amounted to 6.1 million. Loans to the clubs amounted to € 23.6 million.
Accruals and deferred mark the figure of 2.6 million (1.7 in 2008).
Total assets amounted to 111.9 million and is up 8, 93% compared to 2008.
shareholders' equity is positive for € 15,286,201, due to the increase in "capital contributions" which rose from 4,396,495 in 2008 to 18,350,000 of 31/12/2009.
In fact, the shareholder is addressed in a significant way, even given the volume of business to support financially the negative effects of economic management.
The loss for the year ended 31 December 2009 was covered along with the losses of previous years carried forward of € 788,335, through the use of the reserve "Advances on capital of € 18,350,000, so that remains to € 1,171,695. In the period following the date of closure of the main shareholder has paid an additional Euro 10 million more by way of payment into the capital.
Provisions for risks and charges amounted to EUR 2.4 million (3.9 in 2008), while the TFR fund amounts to € 521 thousand (554 thousand in 2008).
The total debt amounted to 84,191,112, as at 31/12/2008 amounted to 77,220,252, registering an increase of 9.03%. The debt to shareholders for loans of 5 million was repaid in 2010. Borrowings from banks amounting to 3.2 million are down from 5.8 million in 2008, partly because became extinct in 2009 a loan granted by Banca Popolare di Verona Antoniana. The other borrowings amounting to 14.5 million relating to 12 million owed to the company "Factorit" for the assignment of claims against Sky and Infront Italy and the rest to the company due to "Ifitalia for the sale of other claims, including that relating to the contract with ERG. Trade payables amounted to 5.3 million (5.7 in 2008). Amounts due from parent companies amounted to 1.5 million and are created for 777 000 € out of debt for VAT group and 786 000 € for the management contract of the mark. Tax liabilities recorded a figure of 4.2 milioni. Riguardano ritenute sulla retribuzione di tre mesi: ottobre, novembre e dicembre 2009, pagate dopo il mese di dicembre 2009 in relazione all’avvenuto pagamento delle retribuzioni. I debiti verso gli istituti previdenziali ammontano a 209 mila euro. I debiti verso le società calcistiche rappresentano l’importo più consistente dei debiti e risultano pari a 31,6 milioni di euro. Al 31/12/2009, la Fiorentina era creditrice per 8,1 milioni, di cui 3,9 per Pazzini, 3,1 per Semioli e 1,1 milioni per Maggio. Per l’acquisto di Mannini risultava un debito verso il Napoli di 5,4 milioni e per quello di Dessena risultava un debito di 3,7 milioni verso il Parma. I debiti verso i dipendenti registrano la cifra di 3,4 milioni di euro, in line with the previous year. Refer to the salary of two months: November and December 2009, in addition to the awards. In the notes specify that occurred the timely payment of these fees. Amounts due from partnerships amounted to 14.1 million, up from 9.4 million in 2008. The most relevant Dessena with Parma for $ 4.2 million to 3.5 million Mannini with Napoli, Udinese Tissone with 3 million.
Note the practice of buying and sell simultaneously in cost.
Accruals and deferred income amounted to EUR 9.5 million and were up by 1.9 million since 2008. Of course this applies mainly to anticipated revenues subscriptions, sponsorship and television income of responsibility for subsequent years.
Net debt amounted to € 21.5 million, while in 2008 amounted to € 20.9 million, meaning that it is in line with the terms of the financial fair play, as lower revenues in both the 2009 than in 2008.
For Sampdoria Holding SpA del'esercizio loss, amounting to € 20,987,764 has been determined, as in previous years (8.4 million in 2008), the effect of imputation on the income statement of the devaluation of the value of the subsidiary UC Sampdoria SpA for € 16.4 million and the presence of significant financial charges i canoni leasing dei marchi Sampdoria.
La partecipazione in U.C. Sampdoria S.p.A. (99,96% delle azioni) è stata esposta in bilancio per un valore pari ad euro 69.252.475, che costituisce l’81% delle attività del bilancio di Sampdoria Holding S.p.A., che è anche proprietaria di alcuni unità immobiliari precisamente: dei locali ad uso ufficio posti nella Torre B del complesso immobiliare denominato Corte Lambruschini in Genova valutati in bilancio per euro 1.340.000 e la relativa area edificabile scorporata valutata per euro 335.000.
Il patrimonio netto è positivo per 17.558.930 euro, mentre i debiti ammontano a 64.839.921 euro, di cui 50.721.832 euro riguardano debiti bancari. I debiti bancari risultano in aumento di 19 milioni (60.31%) compared to 2008.
In 2009 he set up a financial planning that provides for a greater commitment on the part of debt Sampdoria Holding SpA to banks, by allocating the resources accruing to the benefit of UC Sampdoria SpA, with assistance and capital contributions and / coverage or loss. This program also includes the support of the parent San Quirico SpA, as guarantor of the guarantor to the banks with which the company operates, also provides a less direct intervention of the parent company for funding Holding SpA The program Sampdoria Sampdoria Financial Holding SpA found favorable reception by the Banks in particular of: Banca Popolare di Sondrio, Unicredit and Banco di Chiavari.
The San Quirico SpA is present with patronage and / or commitments guarantors, in the interests of society Sampdoria Holding SpA, in favor of Banca Popolare di Sondrio for the benefit of Euro 5,000,000.00 Euro 8,000,000.00 Unicredit, in favor of Banco di Chiavari BPL for Euro 20,000,000.00 in favor of the Bank and St George for Euro 5,000,000.00, in the face of credit and loans extended to the company.
The San Quirico SpA is also a guarantor on behalf of the Banco San Giorgio for Euro 15,490,000.00 in respect of guarantees issued by Holding SpA to the subsidiary Sampdoria UC Sampdoria SpA for the bonds formed against FIGC-League National Professional for the payment of the debt arising from the sale to the players' registration rights.
the light of what is written above, the story Cassano could be seen also in terms of reduction of personnel costs and not simply and exclusively as a story "behavioral", especially considering the fact that the player had to renew his contract . The sale of Inter
Pazzini seems to strengthen this argument, with a horizon of managerial downsizing, which appears suddenly.
Luca Marotta
Published www.ju29ro.it
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