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> Serie A champions Inter rapped in financial probe

 
Warchant
post Jun 20 2007, 04:30 PM
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QUOTE
MILAN, June 20 (Reuters) - Inter Milan would not have been able to compete in the 2005/06 Italian championship if important financial information had come to light, a commission said on Wednesday.

Inter Milan president Massimo Moratti and AC Milan vice-president Adriano Galliani are being investigated after accusations that some transfer fees were inflated between 2003 and 2005 in order to obtain fictitious capital gains.

Covisoc, the body which monitors Italian soccer club finances, said Inter would not have had the necessary financial security to have been allowed in the 2005/06 championship if full figures had been available.

'Financial balance would have been lost if the club had shown the losses connected to the fictitious capital gains and Inter would not have fitted the parameters asked for by Covisoc for registration in the 2005-06 championship,' the commission said in a statement.

However, Inter later denied the accusations.

'FC Internationale wish to make clear that they have never included fictitious capital gains in their own budgets and that they have already presented the necessary and complete technical documentation,' the club said in a statement.

Inter were awarded the 2005/06 Serie A title after original winners Juventus were stripped on the championship and demoted for their role in Italy's match-fixing scandal.

Roberto Mancini's side won last season's title on the pitch rather than a court room and so far there is no suggestion from official bodies that the club will face a serious sporting sanction as a result of the transfer probe.


it's not "milan" news...but it's the best news i've heard all week
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Tennie
post Jun 20 2007, 04:33 PM
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Hee. Isn't it great? I posted a synopsis of the Gazzetta article on the Serie A thread a while ago.

Wonder if relegation is even a remote possibility....
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misha
post Jun 20 2007, 04:37 PM
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Moratti has enough ties to walk out of this with minimum harm
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dst
post Jun 20 2007, 04:46 PM
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It seems like Milan is involved in this too! I hope the club won't pay for this...
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Portman
post Jun 20 2007, 07:49 PM
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Nothing will happen...
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Rossoneri7
post Jun 20 2007, 09:22 PM
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QUOTE (Porty @ Jun 20 2007, 09:49 PM)
Nothing will happen...
*


Yup .. (IMG:http://cyrus.medialayer.net/~m1ke/milanfan.com/forums/style_emoticons/default/king.gif)
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Nova
post Jun 20 2007, 11:32 PM
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Could Inter be demoted? Wednesday 20 June, 2007

--------------------------------------------------------------------------------

Lawyers warn that Inter could be demoted to Serie B if the financial scandal is proved in the sporting courts!

The club has been named as part of an investigation into creative accounting in Serie A and a member of the Covisoc – the association that performs financial checks on Italian clubs – accused them of fiddling their 2005-06 accounts with artificially inflated player values, known as plusvalenze.


At first it seemed as if this would only result in a fine for the Nerazzurri, but specialist lawyer Mattia Grassani has a very different view.


“Financial fraud is a very serious crime, second only in the sporting justice system to sporting fraud,” he noted.


“The sanctions for directors go from a simple fine to up to five year suspensions with the possibility of a lifetime ban.


“For clubs the punishment can be either a fine, points penalties or even demotion. In the rules there is also the possibility of stripping the Scudetto, but that is up to the Federation President to decide.”


After Juventus were relegated to Serie B for their part in the Calciopoli scandal with Milan, Fiorentina, Lazio and Reggina all given points penalties, will the justice system be equally as harsh on Inter?


“First of all we must ascertain whether Inter or indeed any other side has falsified financial documents, thanks to which they entered a competition that they would otherwise not have been qualified for,” explained former Investigative team member Mario Stagliano.


“In that case, we could begin inflicting the penalties set down by the rules.”


Although Inter are the newest additions to this investigation, Milan, Reggina and Sampdoria have already been named as part of the inquest


channel 4



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Imagine that happening !!! (IMG:http://cyrus.medialayer.net/~m1ke/milanfan.com/forums/style_emoticons/default/biggrin.gif) (IMG:http://cyrus.medialayer.net/~m1ke/milanfan.com/forums/style_emoticons/default/biggrin.gif)
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kurtsimonw
post Jun 20 2007, 11:47 PM
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I don't even know what it means by 'artificially inflated player values', or how it could effect their accounts. (IMG:http://cyrus.medialayer.net/~m1ke/milanfan.com/forums/style_emoticons/default/huh.gif)
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Tennie
post Jun 21 2007, 12:04 AM
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The Italian used to describe the whole thing is difficult for me to decipher but I think it's something like this:

Lega Calcio rules state that a club must have assets and/or disposable income (cash + stocks) at a certain ratio, ie, they've got to be solvent to register to play in Serie A.

What I /think/ Inter did was to cook the books by overstating the value of players. For example, player Joebob is listed on the Inter balance sheets as an asset, having a value of 10 million euros. Thing is, his actual value is something more like 1 million euros. By overstating the value of Joebob, Inter makes it look like they've got more assets than they actually have. And that breaks the rules. It's especially bad if the actual value of Inter's balance sheet takes them below the acceptable threshold, which seems to be the case.
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kurtsimonw
post Jun 21 2007, 12:22 AM
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QUOTE (Tennie @ Jun 20 2007, 11:04 PM)
The Italian used to describe the whole thing is difficult for me to decipher but I think it's something like this:

Lega Calcio rules state that a club must have assets and/or disposable income (cash + stocks) at a certain ratio, ie, they've got to be solvent to register to play in Serie A.

What I /think/ Inter did was to cook the books by overstating the value of players. For example, player Joebob is listed on the Inter balance sheets as an asset, having a value of 10 million euros. Thing is, his actual value is something more like 1 million euros. By overstating the value of Joebob, Inter makes it look like they've got more assets than they actually have. And that breaks the rules. It's especially bad if the actual value of Inter's balance sheet takes them below the acceptable threshold, which seems to be the case.
*

Ah alright, thanks for clearing it up for me, Tennie.

I don't believe anything can be done about this, it's very difficult. Especially when it's all opinionated and estimates. I'm pretty sure everybody on here could estimate the value of the Inter squad and we would come up with outrageously different amounts.

The second reason with this is: Why have Inter got away with this all season? Things like this should be checked out, and cleared, before the season starts. If they don't check out these things when needed it's their own fault as much as Inter's, and they shouldn't punish them for their own incompitence, regardless of the fact that Inter may have been caught of wrong doing.

Anyways, my rant's over. (IMG:http://cyrus.medialayer.net/~m1ke/milanfan.com/forums/style_emoticons/default/tongue.gif)

This post has been edited by kurtsimonw: Jun 21 2007, 12:24 AM
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Tennie
post Jun 21 2007, 01:12 AM
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I think Inter got caught because the stated value of the player was much inflated from what they actually paid for him. (I think. Again, my understanding of the Italian used to describe this is iffy at best). So if an auditor looks at, say, Inter's books and sees Joebob listed at 10 million, whereas Inter only paid 1 million, that's where the problem is.

And it's my understanding that an investigation has been going on for some months; it's just that the findings came out today.

This is just not Moratti's week.
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kurtsimonw
post Jun 21 2007, 01:35 AM
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QUOTE (Tennie @ Jun 21 2007, 12:12 AM)
I think Inter got caught because the stated value of the player was much inflated from what they actually paid for him. (I think. Again, my understanding of the Italian used to describe this is iffy at best). So if an auditor looks at, say, Inter's books and sees Joebob listed at 10 million, whereas Inter only paid 1 million, that's where the problem is.
And it's my understanding that an investigation has been going on for some months; it's just that the findings came out today.

This is just not Moratti's week.
*

That's about cleared it up for me, cheers.

This post has been edited by kurtsimonw: Jun 21 2007, 01:37 AM
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KillerMax
post Jun 21 2007, 02:13 AM
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It's not easy at all for me and I'm sure many others, to see Milan in there. Brings back some very dark memories.
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Rossoneri7
post Jun 21 2007, 02:57 AM
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Please please please !!!!

Inter in Serie B .. This is what will make my summer !!! I don't want anymore transfers, I just want Inter in Serie B .. OMG .. It would be the best season ever !! Moratti selling all his players (IMG:http://cyrus.medialayer.net/~m1ke/milanfan.com/forums/style_emoticons/default/laugh.gif) (IMG:http://cyrus.medialayer.net/~m1ke/milanfan.com/forums/style_emoticons/default/laugh.gif) (IMG:http://cyrus.medialayer.net/~m1ke/milanfan.com/forums/style_emoticons/default/laugh.gif)

Viera, Ibra, Crespo, Adriano, Cambiasso, Samuel, Matrix (IMG:http://cyrus.medialayer.net/~m1ke/milanfan.com/forums/style_emoticons/default/laugh.gif) , Cesar, Toldo, Grosso, **** the whole team except Zanetti (IMG:http://cyrus.medialayer.net/~m1ke/milanfan.com/forums/style_emoticons/default/laugh.gif) (IMG:http://cyrus.medialayer.net/~m1ke/milanfan.com/forums/style_emoticons/default/laugh.gif) They all will be gone (IMG:http://cyrus.medialayer.net/~m1ke/milanfan.com/forums/style_emoticons/default/tongue.gif) (IMG:http://cyrus.medialayer.net/~m1ke/milanfan.com/forums/style_emoticons/default/tongue.gif)

wow .. what a trip (IMG:http://cyrus.medialayer.net/~m1ke/milanfan.com/forums/style_emoticons/default/biggrin.gif)
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Jack Sparrow
post Jun 21 2007, 05:43 AM
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QUOTE
For example, player Joebob is listed on the Inter balance sheets as an asset, having a value of 10 million euros. Thing is, his actual value is something more like 1 million euros.


He doesn't sound Argentine. Are u sure he's an Inter player??

Well if Inter do drop, then I agree with R7, we wouldn't need any more transfers to challenge for the Scudetto. And all we'd need to do was land Viera. Give Porty something to diss the team about. Maybe get Grosso too, for all the Aussies in here. (IMG:http://cyrus.medialayer.net/~m1ke/milanfan.com/forums/style_emoticons/default/laugh.gif)

Don't forget Inter players seem to love the change in atmosphere in Milan.
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