Given that Dusan Vlahovic will end up at Juventus and Robin Gosens will join Inter before the window closes, there is hysteria surrounding Milan’s lack of activiity.
Calciomercato.com reports how some Milan fans and pundits have become frustrated with the Rossoneri’s decision to have a low-cost January window, an accusation made above all by those who believe the team needed the reinforcements most out of the top five teams given the problems of injuries and absentees.
Inter made a loss of €245.6m in their last accounts and Juve were at €-210m, but both are signing players very useful for the second half of the season in achieving their objectives, while Milan (€-98.2m) are likely to only sign a teenage striker for €5m.
Juventus have chosen to cover their losses through the issue of new shares, while Inter have opted to issue €415m in bonds, while Milan continue to get new payments from Elliott Management to foot losses. That means the Rossoneri are the only ones with owners that intervened directly with an injection of their own liquidity.
Ever since Elliott took over from Yonghong Li, the idea has always been that of a gradual return to the top by signing young players in good value deals and developing them into future champions, thus rejecting the notion of crazy expenses and the generation of more debt, and with qualification for the Champions League the number one target currently.
Inter and Juve have the same objectives, but in order to achieve them they have decided to maintain a high competitiveness by using a small part of the budget already foreseen in the development plan but committing themselves to sizeable costs in the future.
The clubs are aware that the squad can generate sufficient and greater revenues in order to recover expenses, as the sales of Achraf Hakimi and Romelu Lukaku proved with their exits helping temporarily safeguard the accounts of the club led by Suning. Milan’s aim meanwhile is to bring the club back to the top with the highest possible asset value and then find a new buyer.
The former president of the FIGC – Carlo Tavecchio – spoke on 1 Station Radio today about the expenses of Juve and Inter.
“The budgets are inspected by COVISOC. If a budget has personal guarantees, it tends to be recovered, it means that there is the economic capacity to face the debts,” he said.
Juve and Inter today have a higher turnover and income than Milan, while UEFA for now are still keeping the sanctions discourse on Financial Fair Play frozen. Essentially, Inter and Juventus are choosing to invest in the long term by exploiting the guarantee of assets and resources for the future, hoping that today’s debt can be covered in the future.