We'll we do have a large amount of debt and have just bought Ronaldo at 110m with 60m gross wages. It would be crazy to ignore cash, as the poster was suggesting going and buying SMS at 120m.
Yes, the main reasons being:
- Any accounting profit suggested ignores the fact that in two or three years we need to sign another replacement for Bonucci. Most likely at more than the profit recognised on Caldara, so any gain negated. Not to mention the higher wages of Bonucci relative to Caldara.
- In all likelihood Caldara was a ready made replacement for Chiellini who will need to be replaced even sooner.
- Cash is king: We are delaying getting cash in for Higuain. Most of the profit in the article is due to the fact that a Higuain in one year in the accounts is significantly less than his value today. So if you sell in 1 year you recognise more of a profit. But you are foregoing the cash until then and have the risk Milan do not take the option.
- We already have a similar player in Benatia.
- I'm not convinced Bonucci is going to show the level of performances he did pre joining Milan, especially given that Buffon has gone and Barzagli will likely be a bit part player.
- We are completely overvaluing Bonucci. Who was desperate to join us and leave Milan, who is 31, who had a poor season, whose value is only going down, who joined Milan 1 year ago for the same price when a far better investment.