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词条 Italian Law 91/1981, Article 18B
释义

  1. {{anchor|Original text|Example}}Examples

  2. Aftermath

  3. Footnotes

  4. References

  5. Further reading

Articolo 18-bis Legge 91/1981 (Article 18B of Law no. 91 of 1981) also known as Salva Calcio (Save Football) is an Italian law introduced in 2003[1] by Law N°27/2003, itself ratified the decree-law N°282/2002 issued by the Prime Minister Silvio Berlusconi (owner of A.C. Milan). The law allows football clubs to defer the amortization expense of intangible assets (player contracts) into 10 equal annual installments. Generally speaking, transfer fees paid to other clubs were capitalized as intangible assets. In accounting, tangible assets were depreciated and intangible assets amortized. At that time, Italian clubs had broken the world transfer record several times. Most clubs relied on player profit as a revenue source, with cash-plus-player deals the most popular method of increasing profit. For example, Juventus signed Gianluigi Buffon and Lilian Thuram for a total of 180 billion lire (€92.96 million). However, Parma also received Jonathan Bachini for an undisclosed fee and Juventus earned €10 million on Bachini.[2]

In some cases high-priced player trades were used to increase short-term profit, stressing future budgets. Vratislav Greško, who was signed for one year by Internazionale for DM9.5 million (€4.857 million), was sold to Parma in 2002 for €16 million; Matías Almeyda, who joined Parma with Hernán Crespo, also sold from Parma to Inter for €16 million. Both Greško and Almeyda left the club after one and two years, respectively, for an undisclosed fee and free transfer. A similar situation occurred in Parma and Rome in 2001; Mangone, Poggi and Gurenko were priced at a total of ₤65 billion (€33,569,698) in a trade with Fuser, Longo and Lassissi. However, Fuser played only briefly for Rome and Gurenko only briefly for Parma. Rome also traded with other clubs in June 2002 (the end of the 2001–02 financial year), including Luigi Sartor (€9.5 million) for Sebastiano Siviglia (€9 million).[3] Some clubs had large net losses, and Fiorentina declared bankruptcy in 2002.

{{anchor|Original text|Example}}Examples

After the establishment of the amortization fund, amortization was lower in general.[4] After the players became free agents, their deferred value was still counted as assets; this was unacceptable by International Financial Reporting Standards (IFRS) or Italian standards.[5] The deferment was borrowing future income. Although future team resources would be limited, according to a University of Salerno research paper the deferred cost might allow a club to utilize the tax allowance more effectively.[4]

Team Fund size Amortization (2001–02) Amortization (2002–03) Change
Lazio €213 million[5][6] €75.5m[5][6] €21.3m + €16.4m[5][6] {{decrease}} €37.7m
  • Note: Changes in amortization may also be due to investment of player assets or player contract extensions; the amortization time frame may also affect its amount.

It was reported that 15 clubs had set-up such special amortization fund,[5] for example A.S. Roma, A.C. Milan and F.C. Internazionale Milano.[7]

Aftermath

The European Union rejected the law in 2003.[8] (formal rendering in 2005[9])

The clubs faced another shortfall in 2007, after Decree-Law 115/2005[10] abolished Article 18B; they had to abolish the amortization fund by 30 June 2007, five years before the original scheduled date. UEFA required all clubs to use IFRS, and the fund was incompatible with the standard.

Before 2006, Napoli was bankrupt when its owner refused to increase share capital in 2004 but the club was revived debt-free as a new company by current owner Aurelio De Laurentiis. When Parma was under administration, most of its toxic assets were written off and its balance sheet was transferred to new company Parma FC SpA. A.S. Roma recapitalized several times during the 2003–04 season, swinging between positive and negative net equity since 2006. During the 2005–06 season Roma had a net equity of €67,808,577 in a separate balance sheet, with the special 10-year fund of €80,189,123 on the asset side;[11] if the fund was entirely deferred amortization,[12] the club had a negative equity of €12,380,546 on the separate balance sheet. Using IFRS in the 2006–07 financial year, on 30 June 2006 Roma had a 2005–06 negative net equity of €22,980,335 on the separate balance sheet. The club created a subsidiary, Soccer SAS di Brand Management, revaluing the brand at €125.122 million.[13] Although Lazio had a positive equity of €29,637,929 with the special fund at €127,746,321, if the fund contained deferred amortization only[14] the club had a negative equity of €98,108,392. In 2006–07 Lazio also changed to IFRS, with a reclassified negative net equity for the previous season of €25,406,939. The club overcome the shortfall on a separate balance sheet with subsidiary SS Lazio Marketing &

Communication, selling its brand to the subsidiary for €104.5 million; this boosted the separate balance sheet but not the consolidated one.[15] Internazionale and Milan made similar moves, despite large cash injections by the owner of both clubs.[16][17][18][19]

Footnotes

1. ^{{cite news|url=http://www.corriere.it/Primo_Piano/Politica/2003/08_Agosto/19/decreto.shtml|title=Approvato il decreto salva-calcio|date=19 August 2003|access-date=21 August 2017|work=Corriere della Sera|language=Italian}}
2. ^{{cite web|url=http://www.juventus.com/wps/wcm/connect/7665be8a-c95d-406e-91db-4de08d142c0c/28_ott_2002_eng_.pdf?MOD%3DAJPERES%26CACHEID%3D7665be8a-c95d-406e-91db-4de08d142c0c |title=Archived copy |accessdate=2012-05-18 |deadurl=yes |archiveurl=https://web.archive.org/web/20150607132859/http://www.juventus.com/wps/wcm/connect/7665be8a-c95d-406e-91db-4de08d142c0c/28_ott_2002_eng_.pdf?MOD=AJPERES&CACHEID=7665be8a-c95d-406e-91db-4de08d142c0c |archivedate=2015-06-07 |df= }}
3. ^{{cite news|url=http://archiviostorico.corriere.it/2002/novembre/07/Roma_buco_nel_bilancio_Per_co_0_0211077824.shtml|title=La Roma ha un buco nel bilancio? Per coprirlo basta vendere 26 sconosciuti|trans-title=Roma had hole in the budget? Selling 26 unknown players is enough to cover for it|work=Corriere della Sera|author=Vittorio Malagutti|language=Italian|date=7 November 2002|accessdate=5 April 2010|deadurl=yes|archiveurl=https://web.archive.org/web/20160101000000/http://archiviostorico.corriere.it/2002/novembre/07/Roma_buco_nel_bilancio_Per_co_0_0211077824.shtml|archivedate=1 January 2016|df=}}
4. ^1 {{cite web|url=http://www.rdes.it/TESI_Saveriano.pdf|title=Società sportive, composizione negoziale delle crisi e transazione fiscale|date=12 November 2010|access-date=21 August 2017|publisher=University of Salerno|language=Italian}}
5. ^1 2 3 4 {{cite book|url=https://dspace.stir.ac.uk/handle/1893/2249|title=Impression management in football club financial reporting|last=Morrow|first=Stephen|date=May 2006|work=International Journal of Sport Finance|format=Archive of the University of Stirling}}
6. ^1 2 SS Lazio SpA Report and Accounts on 30 June 2003 (in Italian)
7. ^{{cite news|url=http://www.iltempo.it/sport/2003/09/09/news/cos-e-il-decreto-salva-calcio-181170/|title=COS'È IL DECRETO SALVA-CALCIO|date=9 September 2003|access-date=21 August 2017|work=Il Tempo|language=Italian}}
8. ^{{cite news|url=http://www.repubblica.it/2003/k/sezioni/sport/calcio/montiboccia/montiboccia/montiboccia.html|title=Ue, bocciato il decreto salva calcio Molte società a rischio fallimento|date=1 November 2003|access-date=21 August 2017|work=La Repubblica|language=Italian}}
9. ^{{cite web|url=http://ec.europa.eu/competition/state_aid/cases/131623/131623_615085_48_1.pdf|title=DECISIONE DELLA COMMISSIONE del 22.VI.2005 relativa alle misure previste dall’Italia a favore delle società sportive professionistiche – (Decreto ”salva calcio”)|date=22 June 2005|access-date=21 August 2017|work=European Commission|publisher=European Union|language=Italian}}
10. ^{{cite web|url=http://www.ateservizi.it/Pubblicazioni/vademecum/18mesi/DL%20115-2005.htm|title=DL 115/2005|work=ateservizi.it}}
11. ^http://www.asroma.it/pdf/corporate/bilanci_e_relazioni/2006-11-06_bilancio_di_esercizio_al_30_giugno_2006.pdf
12. ^In descending order, the €80 million included Paoletti (€6.564 million), Bombardini (€6.276 million), Panarelli (€5.964 million), Lassissi (€5.163 million), Sartor (€4.722 million), Cattivera (€4.317 million), Longo (€4.215 million) and Pelizzoli (€4.069 million); most had left the club.
13. ^{{cite web|url=http://www.asroma.it/pdf/corporate/bilanci_e_relazioni/2007-12-07_bilancio_di_esercizio_e_consolidato_al_30_giugno_2007.pdf|title=2007 Bilancio |date=18 January 2008|access-date=1 September 2016|archiveurl=https://web.archive.org/web/20120608041017/http://www.asroma.it/pdf/corporate/bilanci_e_relazioni/2007-12-07_bilancio_di_esercizio_e_consolidato_al_30_giugno_2007.pdf|archivedate=8 June 2012|publisher=A.S. Roma|language=Italian}}
14. ^http://www.sslazio.it/images/stories/documenti/pdf/investor_relator/progetto%20di%20bilancio%20al%2030.06.06.pdf
15. ^http://www.sslazio.it/images/stories/documenti/pdf/investor_relator/Bilancio%20S.S.%20Lazio%20s.p.a.%20separato%20e%20consolidato%20al%2030.06.2007.pdf{{dead link|date=April 2017 |bot=InternetArchiveBot |fix-attempted=yes }}
16. ^{{cite web|url=http://www.ju29ro.com/altri-scandali/716-inter-il-buco-nero.html|title=Ju29ro.com - Inter, il buco nero|work=ju29ro.com}}
17. ^{{cite web|url=http://www.ju29ro.com/archivi/articoli/altri-scandali/34-altri-scandali/96-la-vendita-del-marchio.html|title=Ju29ro.com - La vendita del marchio|work=ju29ro.com}}
18. ^{{cite news|url=http://www.repubblica.it/2006/11/sezioni/sport/calcio/doping-bilanci/doping-bilanci/doping-bilanci.html|title=Il "doping" nei conti dei big del pallone perdite complessive oltre i 68 milioni|date=9 November 2006|accessdate=15 April 2013|work=la Repubblica|language=Italian}}
19. ^{{cite news|url=http://archiviostorico.corriere.it/2007/gennaio/31/Cessione_del_marchio_Guardia_Finanza_co_9_070131061.shtml|title=Cessione del marchio La Guardia di Finanza fa visita alla Covisoc|date=31 January 2007|accessdate=15 April 2013|work=Corriere della Sera|language=Italian}}

References

general
  • {{cite web|url=http://www.figc.it/Assets/contentresources_2/ContenutoGenerico/87.$plit/C_2_ContenutoGenerico_3814_lstSezioni_numSezione0_lstCapitoli_numCapitolo1_upfFileUpload_it.pdf|title=Legge 91/1981|date=11 November 2003|access-date=21 January 2015|publisher=FIGC|language=Italian}}
specific
{{reflist|30em}}

Further reading

  • {{cite book|url=https://dspace.stir.ac.uk/handle/1893/2249|title=Impression management in football club financial reporting|last=Morrow|first=Stephen|date=May 2006|work=International Journal of Sport Finance|format=Archive of the University of Stirling}}
{{Football in Italy}}{{DEFAULTSORT:Italian Law 91 1981, Article 18B}}

7 : Italian law|2003 in Italy|2003 in law|Sports law|History of football in Italy|2002–03 in Italian football|2006–07 in Italian football
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