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  1. italiacalcio10

    Alvaro Morata - ST - Real Madrid

    I was vegetarian for two years in my awkward teen years. Two years that I will never get back :(
  2. italiacalcio10

    Alvaro Morata - ST - Real Madrid

    One thing that is a good sign is that RM is fighting hard for a buyback. They've sold others in the past and frankly 22 million is pretty rich for a player who is very unproven. I'm hoping it means they know he will be good. I wonder why Beppe didn't go for a buyback clause that stepped up...
  3. italiacalcio10

    Alvaro Morata - ST - Real Madrid

    From the positive perspective: http://www.statsbomb.com/2014/06/the-best-young-prospect-in-europe-2014-alvaro-morata/ Take it for what its worth.
  4. italiacalcio10

    Alvaro Morata - ST - Real Madrid

    That would be a new renegotiated contract no? Would be an entirely new capital budgeting decision... Probably a "do you sell decision?"
  5. italiacalcio10

    Alvaro Morata - ST - Real Madrid

    For the record, I'm against Morata. But in the interest of accuracy I thought it would be useful to post a quick analysis of the true economics of these purchases. Buying both Iturbe and Morata at the rumoured prices is ~ the same combined economics (NPV) as the rumoured Sanchez deal...
  6. italiacalcio10

    Alvaro Morata - ST - Real Madrid

    I know some here are bullish on this transfer. I'm personally am not at all. But just for some alternate perspective, I've been scanning twitter to see what RM fans are saying. These are some examples. On the whole, they seem to really think they've gotten the better of us. The following...
  7. italiacalcio10

    Alvaro Morata - ST - Real Madrid

    -Maybe or it could be internally generated cash flow from its wireline network used. -Maybe its through the sale of shares. -Maybe its through warrants. -Maybe its through Beppe Marotta magically negotiating an interest free loan for Telecom Italia with an option to buy. One of the...
  8. italiacalcio10

    Alvaro Morata - ST - Real Madrid

    For example, you build a wireless network, it costs you $10 million, and amortize it over 10 years. You'll recognize $1 million per year in D&A, but that outlay occurs in year one. If revenue is $2 million, cash costs are $1 million and maintenance expenditures (ie: investment) are only $0.2...
  9. italiacalcio10

    Alvaro Morata - ST - Real Madrid

    That's a non-cash expense and really only drives cash flow via a tax shield. Accounting profit is pretty much irrelevant. On a cash flow basis, the dollar gain or loss only really matters, which I believe isn't that lucrative.
  10. italiacalcio10

    Alvaro Morata - ST - Real Madrid

    And Mandzukic goes from Bayern to Atletico for 18 million euro.
  11. italiacalcio10

    Alvaro Morata - ST - Real Madrid

    This is where you have to ask why they didn't bring Ciro Immobile back. You sell 1/2 the Capocannoniere for ~9 million euro, a player who has shown he can score 20+ goals, with his 2nd half production being frighteningly efficient, and buy Morata who 'could' become a good striker and has never...
  12. italiacalcio10

    Alvaro Morata - ST - Real Madrid

    I wasn't saying those player would be purchased for the same dollar figure, I was saying I would rather pay the 10-15 million to pay for risk mitigation. While premiums are expected in the transfer market, we're probably paying a premium of 100%, given that fair value is ~10 million. Even paying...
  13. italiacalcio10

    Alvaro Morata - ST - Real Madrid

    That was my point - they aren't similar. Morata is worlds more risky. I would rather pay the extra 10-15 (and maybe sell a player to fund that player) in order to ensure that the player isn't a complete bust. Morata's track record is VERY limited, and while he could be a home run, you're leaving...
  14. italiacalcio10

    Alvaro Morata - ST - Real Madrid

    For me, I'd like to see a bit more in terms of development for a player that Juve buys. For example, De Bruyne scored 10 goals and 9 assists as a crucial part of Werder Bremen's attack in 2013. Wolfburg ended up buying him for 18 million pounds. I'd feel comfortable with him considering at 22...
  15. italiacalcio10

    Alvaro Morata - ST - Real Madrid

    Yeah, its crazy to be honest. For that sum of money, it should involve a transfer for a potentially great player, not one who will likely be only good. Also, giving Real Madrid a call-option is crazy. Not only due Juve spend 20MM on a player who may not even be ready for first team minutes, and...
  16. italiacalcio10

    Alvaro Morata - ST - Real Madrid

    I'm not a fan of doing this if RM demands a buyback clause. It's an absolute load of **** for Juventus to take the financial risk of the deal by forking out somewhere between 15-25MM euro depending on where the bid-ask settles, and then RM have the option to cap Juve's upside at 35MM. If I'm...