There is preconception here that Roma as a football club has been better run over the years by some members, which in all honesty couldn't be farther from reality. I'll only point out few things; in the last 4 years Roma recorder cumulative loss of 170m, at the same period their equity decreased from (13m) at the end of 2010 to (66m) last year according to their official statement. Total amount of liabilities increased by 100m; they had 130m of current and non current liabilities at the end of 2010, while last year those rose up to 230m. In the period of 4 years Roma have accumulated debt, their equity decreased despite the fact that the owners absorb most of their yearly loss, their assets (players and other intangibles & tangibles ) increased by mere 50m, and most importantly their overall results have been disappointing considering heavy investments over the years. Now to put that into our context; Juve between 2011-2014 increased their assets by 100m, partly by increasing liabilities, around 60m, and other 40m has been due to equity, achieved success on a sporting plan and are finding themselves in a safe zone, close to breaking even. As a company Juve have achieved significant growth over the years, scale of our operations increased, while Roma despite of their overly ambitious project have taken as slight step forward, but at the expense of increased exposure to various risks. In their case effort required to bring them where they currently are does not correlate with results achieved on financial and sporting level. Reward certainly was not worth of the funds spent during the years.
Roma's revenues remained at similar level, or even regressed a bit, while costs have increased in the same period. The reason why their staggering amount of yearly loss haven't dragged down equity even further is due to the will of American investors to absorb part of it every year. For instance in 2011 equity should have been -13m-51m=-64m, but evidently it is not the case bellow, as owners like previously said directly invested 20m, etc...
AS Roma
----------------2010---------2011--------2012---------2013
Revenues-------128m--------138m--------108m--------114m
Profit/(loss)-----(22m)--------(51m)------(59m)--------(40m)
Equity----------(13m)--------(44m)-------(53m)-------(66m)
Liabilities--------134m--------147m--------241m--------240m
Assets----------121m--------103m--------188m--------174m
Juventus
-------------2010------------2011---------2012-------2013
Revenues----220m-----------172m----------214m------284m
Profit/(loss)--(10m)----------(95m)---------(49m)------(16m)
Equity--------90m------------(5m)----------65m--------49m
Liabilities-----201m-----------339m---------362m-------394m
Assets-------291m-----------334m---------427m-------443m
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Roma would need more than a new stadium to reach our revenues.
They will never reach us. Impossible. Pure delusion by some folks.