20 million agreement – Corriere.it

from Simona Lorenzetti and Massimiliano Nerozzi

The agreement on the four months of CR7 is part of the salary maneuvers: during the pandemic, a reduction in salaries of 62 million was deposited in the League, in reality writings to the side still guaranteed the players to pay off-balance sheet

There is also Ronaldo’s secret card among the documents reconstructed by the Guardia di Finanza and now revealed with the closure of the investigation by the Turin Prosecutor’s Office on Juve’s accounts: it alone is valid 19.970 million euros, or four months of CR7. In short, that figure was enough to crack the Juventus balance sheet.

And this would be enough to explain the tone of the interception between the ds Federico Cherubini and the head of the club’s legal department, Cesare Gabasio: If it comes out, they jump to our throats … all about the financial statements, the auditors and everything. The scope is that of the so-called salary maneuvers, conceived and designed to cope with the economic crisis linked to the Covid pandemic. In particular, the second maneuver is based on a series of individual agreements, deposited in the League for 17 players, in which there is talk of a
reduction of 4 months for savings in the accounting books of 62 million euros
. These are – officially – conditional entries (for budget entry). Basically, loyalty bonus: a sort of fidelity award subordinated to the player’s stay in the club.

But investigators found other documents in some law firms – signed by Juventus managers – in which, however, the payment of the monthly payments was ensured: side letter, beside the contract, which supplemented the agreement. In this case they canceled the effects, thus also modifying the accounting nature: it became an unconditional debt, and therefore to be recorded at the same time in the financial statements. At least this is the reconstruction of the deputy prosecutor Marco Gianoglio and the prosecutors Mario Bendoni and Ciro Santoriello.

Meanwhile, the club reiterated the correctness of its actions: Juventus remains convinced, also taking into account the legal and accounting investigations carried out by the company with the help of its consultants and the legal and technical-accounting opinions acquired, that it has operated in compliance with the laws and regulations governing the preparation of financial reports. And in line with the international practice of the football industry. The CEO also made himself heard at SportMediaset Maurizio Arrivabene: We respect everyone, but we want to be respected: as often happens in Italy, the processes are carried out first in the media and then in the appropriate locations.

Then there is the capital gains chapter: between 2018 and 2020 there are 21 exchange operations in which the value of the players would have been artifact. For the magistrates, the 16 suspects – including the president Andrea Agnelli, the CEO Maurizio Arrivabene and the club itself – must answer, in various ways, for false corporate communications (or false accounting), manipulation, obstacle to the supervisory authorities of the market and false invoicing for non-existent transactions.

The latter were registered in the name of various attorneys and agent companies, through mandates that would have been conferred to cover past debts: in some cases, they were paid despite not having taken part in the concluded deal. Considering the amount of evidence and the danger of probative pollution, the Prosecutor had asked for a disqualification measure for seven people. And (also) the house arrest for Agnelli, for the former sports director Fabio Paratici – considered the architect of capital gains – and for Gabasio, indicated as the creator of the salary maneuver. But the investigating judge said no.

October 26, 2022 (change October 26, 2022 | 07:20)

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About David Martin

David Martin is the lead editor for Spark Chronicles. David has been working as a freelance journalist.

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