Juventus's big-spending days are over, says Agnelli heir (1 Viewer)

[Boudz]

Juventus's big-spending days are over, says Agnelli heir
Tue Jul 3, 2007 1:14PM BST


ROME (Reuters) - The heir to the Agnelli family that controls Juventus warned on Tuesday that the club's big-spending days were over.

John Elkann, vice-president of the FIAT group and grandson of the late Gianni Agnelli who was Juventus's long-term president and owner, said in future the club would avoid the huge transfer campaigns of former general director Luciano Moggi and former chief executive Antonio Giraudo.

"Moggi and Giraudo's spending was unsustainable. They made up for it by factoring in the increase in value of players (into the accounts) but it couldn't go on like that," the 31-year-old Elkann told Italian newspaper Corriere della Sera.

Moggi and Giraudo were forced to quit Juventus over their involvement in last year's Serie A match-fixing scandal.

The club were sent down to the second-division Serie B but will be playing top-flight football again next season after winning the league.

"Serie B was very hard -- a season in Purgatory that nobody liked. It also cost us a lot of money," Elkann continued.

"I believe in a sustainable model: costs cannot account for 80 percent of turnover. At Manchester United it accounts for 55 percent."

Elkann's vision of a more financially cautious Juventus has not prevented the club being active on the transfer market.

Since winning promotion, the club have brought in Portuguese midfielder Tiago from Olympique Lyon, defender Zdenek Grygera from Ajax and Bosnian midfielder Hasan Salihamidzic from Bayern Munich.


© Reuters 2007.

 

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[Marko]

So what are they gonna do? Manage Arsenal policy?

 

[Wraith]

That is bull. Before the relegation we WERE a sustainable model, financially stable, and successful. Believe it or not, the club has to invest money in players to continue to win trophies. I also don't understand the 80% of turnover part. Manchester United has a lower spending per income because they have a massive debt...do the Elkanns expect to just pocket the income or something? Good players are the most important investment a club could make.

Frankly what does this guy want to do with the club??

 

[Gill_juve]

Juventus's big-spending days are over, says Agnelli heir
Tue Jul 3, 2007 1:14PM BST


ROME (Reuters) - The heir to the Agnelli family that controls Juventus warned on Tuesday that the club's big-spending days were over.

John Elkann, vice-president of the FIAT group and grandson of the late Gianni Agnelli who was Juventus's long-term president and owner, said in future the club would avoid the huge transfer campaigns of former general director Luciano Moggi and former chief executive Antonio Giraudo.

"Moggi and Giraudo's spending was unsustainable. They made up for it by factoring in the increase in value of players (into the accounts) but it couldn't go on like that," the 31-year-old Elkann told Italian newspaper Corriere della Sera.

Moggi and Giraudo were forced to quit Juventus over their involvement in last year's Serie A match-fixing scandal.

The club were sent down to the second-division Serie B but will be playing top-flight football again next season after winning the league.

"Serie B was very hard -- a season in Purgatory that nobody liked. It also cost us a lot of money," Elkann continued.

"I believe in a sustainable model: costs cannot account for 80 percent of turnover. At Manchester United it accounts for 55 percent."

Elkann's vision of a more financially cautious Juventus has not prevented the club being active on the transfer market.

Since winning promotion, the club have brought in Portuguese midfielder Tiago from Olympique Lyon, defender Zdenek Grygera from Ajax and Bosnian midfielder Hasan Salihamidzic from Bayern Munich.


© Reuters 2007.

i dont think its that bad he is looking to be more efficient and economical so i dont think we will not ever buy big players.

 

[ReBeL]

John Elkann wants to appear as the good businessman in this case, but everybody who knows Juventus of the triade knows that they were buying so efficiently and they were using the least possible resources, so John can shut up and play another game.

 

[Gill_juve]

John Elkann wants to appear as the good businessman in this case, but everybody who knows Juventus of the triade knows that they were buying so efficiently and they were using the least possible resources, so John can shut up and play another game.

but didnt giraudo also keep false accounts?

 

[ReBeL]

but didnt giraudo also keep false accounts?

As a guy whose work area is accounting, I can assure you there is nothing called "True Accounting". It's not a science at all. If you see something brown, others may see it red, and you'll both think that your own opinion is the right thing.

 

[Juventino_NJ]

Juve to leave market?

Tuesday 3 July, 2007

--------------------------------------------------------------------------------

The grandson of long-term Juventus President Gianni Agnelli has warned the Bianconeri that they need to keep a closer eye on their spending.

FIAT group Vice-President John Elkann spoke out against the vast transfer budgets of recent seasons and urged the club to be more cautious or risk financial ruin.

“Luciano Moggi and Antonio Giraudo’s outgoings were unsustainable,” he told the Corriere della Sera. “They made up for it by taking into account the increase in players’ values,”

“I believe in a different model where costs cannot account for 80 per cent of turnover. Serie B was a very hard season in Purgatory that nobody enjoyed and it also cost us a lot of money.”

Juventus have begun to trim their squad with Daniele Gastaldello and Antonio Mirante moving to Sampdoria.

Talented defender Gastaldello impressed in his 20 appearances on loan to Siena last term and joins on a permanent basis.

Goalkeeper Mirante arrives at Marassi on a season loan after a campaign spent as Gigi Buffon's understudy.

Channel 4

 

[Turk_Bianconero]

sounds interista:faq1:

 

[rounder]

Juve was always the type of squad that did't spend big money , they always bought most of their players on a free or for a very cheap price .
Serie B just confirmed that even more

 

[Gill_juve]

As a guy whose work area is accounting, I can assure you there is nothing called "True Accounting". It's not a science at all. If you see something brown, others may see it red, and you'll both think that your own opinion is the right thing.

thats weird because my dad is in finance and what do you mean by true accounting, i'm sorry but giraudo was dodgy imo and keep false accounts isnt true accounts.

 

[Thunderball]

These articles seem to be more rabble rousing than anything else. I think all Elkann really means to say is not to expect this level of spending every year, unless there's a lot more income (ie: CL).

I think his comments about Moggi and Giraudo were taken out of context too, probably meant that had they not possessed the acumen that they did, their spending would not have been feasible... which we all knew. Can't buy Nedved, Cannavaro and Ibrahimovic without selling Zidane...

PS: Nice job on forgetting Almiron there, Reuters.

 

[Cronios]

Just like i told you guys, our managers suck, they are such a noobs, we are discussing matters that shouldnt very open and we have problems where we shouldnt.
Our board released so many players, its normal we dont have any income, we could have got 7mil at least from the 8 players we released, Villareal bought Mavuba for 7mil and we spent a fortune on Tiago,Iaquinta and Almiron, we made three transfers and are almost bankrupt??

Noobs! I m sorry for the ones that had high transfer expectations and i pity the ones that still have...
At least, i hope they will rebuild our stadium, i cant understand where all those 100mil gone...

 

[AshutoshJuve]

Juve was always the type of squad that did't spend big money , they always bought most of their players on a free or for a very cheap price .
Serie B just confirmed that even more

remember 2000-2001

Thuram 25m
Trezeguet 20m
Nedved 27m
Buffon 32m
.
.
.
.
this itself adds to 104,000,000 pounds (around 8 billion INR)

 

[AshutoshJuve]

Just like i told you guys, our managers suck, they are such a noobs, we are discussing matters that shouldnt very open and we have problems where we shouldnt.
Our board released so many players, its normal we dont have any income, we could have got 7mil at least from the 8 players we released, Villareal bought Mavuba for 7mil and we spent a fortune on Tiago,Iaquinta and Almiron, we made three transfers and are almost bankrupt??

Noobs! I m sorry for the ones that had high transfer expectations and i pity the ones that still have...
At least, i hope they will rebuild our stadium, i cant understand where all those 100mil gone...

u can't expect all 100 million euros to be spent on BUYING players
we have salaries, debts, stadium up gradation etc things to pay heed 2

 

[white_rabbit]

As a guy whose work area is accounting, I can assure you there is nothing called "True Accounting". It's not a science at all. If you see something brown, others may see it red, and you'll both think that your own opinion is the right thing.

i couldn't disagree more. there is a debate on wheter it is a science or not but it is clear cut mathematics which is the mother of all sciences.
the trick is the complexity of the accounts. 'false accounts' are non existing accounts that appear to be existing. but unless you go through the accounts one by one you wouldn't know if its 'false' or not.

note: im not an accounting or economics expert

 

[Turk_Bianconero]

remember 2000-2001

Thuram 25m
Trezeguet 20m
Nedved 27m
Buffon 32m
.
.
.
.
this itself adds to 104,000,000 pounds (around 8 billion INR)

Trezeguet 2000-2001

others 2001-2002

 

[Boudz]

Can't buy Nedved, Cannavaro and Ibrahimovic without selling Zidane...

In Cannavaro's case we didn't need to sell Zidane, Carini was enough

 

[AshutoshJuve]

Trezeguet 2000-2001

others 2001-2002

wateva
but money matters

 

[Cronios]

u can't expect all 100 million euros to be spent on BUYING players
we have salaries, debts, stadium up gradation etc things to pay heed 2

Dont tell me about wages, we are not using all those money to pay wages at once,
its much more complicated than that, most of the clubs can pay the wages with the income they have from title bonuses, sponsorship, TV rights and tickets etc etc
We released so many players and have less wage problems than ever,
we have young players, with lower wages, we can handle wages.

The work on stadium so far is very controversial and the plans announced change every month, IMO there is no final project yet and our board doesnt respect our priorities, this year we must spend more then every other year. We have 100+100=200mil available to spend the next 2 years. It is wise not to harry and make the right choices,
but timing here is essential, we have to come up with a major plan
and follow it, strictly, they years to come. We cant afford any mistakes,
our helm though, seems to have second thoughts, disagreements and they are changing the plan/strategy week in week out.
Most important, the fact the worries me the most, is that they bring it on public view!
Definitely not a professional approach IMO!

Time will tell what they do have in mind (if the actually have any






















mind )