His stats (from twitter):
Giaccherini 2010/11: 33 starts 7 goals, 4 assists, fouled once every 43.8 mins, 81.54% pass completion, 21.9% cross completion.
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Good enough for a backup winger. Problems? I believe it is his first season in serie A.
IF this is a co-own and Cesena pay for Martinez's wages, I think this is a decent deal. An improvment over Martinez at least (not as a player, but because he will be fit).