The Diego 'Giveaway’: Not As Bad As It Seems
As the transfer of Edin Džeko to Manchester City becomes ever more a reality, fans of Juventus are growing increasingly disillusioned with a piece of transfer business conducted by Beppe Marotta this summer. It is a widely held belief (one I share) that the sale of Diego to Wolfsburg secured an option on the flavour-of-the-month Bosnian hit-man. The Brazilian play-maker all but confirmed it during this interview on
BeyondthePitch.net in October. While the club may well have been given the opportunity to match any offer made by the Premier League club it is likely to be beyond the means of the
Bianconeri to do so at present, which begs the question: Why sell Diego so cheaply?
First there are a few things to consider, chief among which is the circumstances which led to the current situation. Wolfsburg have endured a nightmare start to life under Steve McClaren, sitting in thirteenth place in the sixteen team Bundesliga, with only four wins this season. This has led to Džeko growing restless and pushing for a transfer away, believing his skills and stature warrant a grander stage. The rules governing the transfer of players from countries outside the European Union to Serie A make a January move to Juventus impossible, leaving the Turin club seemingly helpless as Roberto Mancini’s side sign yet another of World football’s most promising talents.
So, if Juventus choose not to exercise the option, or if one never existed at all, where does that leave the sale of Diego for €15.5m, a fee many believe to be far too low. In cold cash terms clearly Juve lost €9m when subtracting that fee from the €24.5m purchase price, but like all things in football and finance, it is never that simple.
(Take a deep breath at this point, it’s about to get technical)
The value on the clubs accounts at the time of sale would, as with any asset, be reduced by amortisation, which was €4.9m annually - €24.5m divided by 5 years of the contract. The player signed for Juve on May 26 2009 and was sold to Wolfsburg on August 27 2010 meaning he spent 15 months as at the club. Therefore the amortisation would have been €6.1m - €4.9m x 15/12 - giving him a value of €18.4m (€24.5m less €6.1m). This means that the loss on sale in the accounts would 'only’ have been €2.9m (€15.5m less €18.4m) - some distance from the initial impression the deal gives.
In addition the harsh economic climate led to a drop of almost 40% in transfer spending among the top five European leagues this summer, and with the impending implementation of UEFA’s Financial Fair Play regulations pending this trend is likely to continue. Had he remained at the club he would have earned a further €3.5m this season and, with the system employed by coach Gigi Delneri he would have always been the proverbial square peg in a round hole.
But rather than simply write this loss down as Beppe Marotta moving the player on before his value dropped even further, we must look at the space he left behind and how it has been filled. Many people thought he was a fantastic player, a real difference maker, but would he have had the impact on the side that Alberto Aquilani and Fabio Quagliarella have enjoyed in his absence? Neither player would have fit the system had the Brazilian
trequartista remained in Turin, his lack of defensive ability would have demanded a much different tactical framework.
For proof we only need look to Sampdoria where Delneri used a similar player in terms of ability and stature - Antonio Cassano - in behind a lone striker throughout last season. Behind those two attacking players was a very functional four man midfield, with two
mediani type central midfielders and two wingers. While this may have worked it is hard to argue it would be more effective than the team in it’s current guise, sitting just five points off the summit of Serie A and having scored more goals than any other side in the league.
Edin Džeko may never arrive, but that does not make selling Diego a poor decision on any level. Yes the club lost money on the transfer, but not as much as you might first think and Marotta has moved wisely on the market. Blaming Diego for the disaster that was last season is clearly wrong as the team never suited him nor helped him to perform at his best, yet it now thrives without him having moved in an entirely different direction. The
Direttore Generale secured replacements that have certainly impressed and formed part of a side that has allowed Juventus fans to believe in their club once again, and that is priceless.
http://iltifosi.tumblr.com/post/2608116031/the-diego-giveaway-not-as-bad-as-it-seems