Home » Juve, ‘real’ and ‘exchange’ value: what changes?

Juve, ‘real’ and ‘exchange’ value: what changes?

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Juve, ‘real’ and ‘exchange’ value: what changes?

Claudio Chiellini and Federico Cherubini had explained to Consob the meaning of the tables referring to purchases and sales on the black and white market. The example of Bonucci

The Juventus tables that reported the “real value” and “exchange value” of the players from the 2016-2017 football season up to the 2020-2021 season, interpreted by the Federal Prosecutor’s Office as “real value” and “artificial value”, instead represented for the “actual value” that of “cash financial disbursement”, i.e. “how much actually paid in cash”. This is supported by the defensive brief of Juve, presented for the appeal to the FIGC Court last Friday, after which the club announced the appeal to the Collegio di Garanzia dello Sport. In this regard, he reports what was stated by two sports directors in hearings at Consob, Claudio Chiellini and Federico Cherubini. And he adds a specific example, that of Bonucci, for whom the figure zero is found in the “real” column and 35 million in that exchange. “Evidently – the lawyers write – that the ‘0’ shown in the table with reference to Bonucci cannot correspond to a zero as a “real value”=”actual value” of the player, in the instrumental sense understood by the Federal Prosecutor, but that can only refer to the fact – totally devoid of any negative significance – that within the Bonucci/Caldara swap transaction concluded between Juventus and Milan, the value assigned to the outgoing player Bonucci corresponded to Euro 35 million (value absolutely correct and in line with the profile of the footballer under discussion)”.

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Explanation

“The file – Chiellini said on 11 January 2022 – was fed directly by the transfer agreements, which were sent to us by the Secretariat. As you can see, all the figures are rounded, but they serve to have a general picture of the trend of the season regarding signings and transfers”. “This – he added – was a work file that we had already used for several years, from the time of Marotta. All these work files were therefore a standard for us in the Sports Area. Purchases-Transfers was a report of all the operations onerous deals that had been concluded, in purchase or sale, by the whole club, from the first team to the youth sector”. The other sports director, Federico Cherubini, spoke on the subject in a previous Consob hearing on 21 December 2021. “In the ‘real’ column – he reported – the differential value paid in cash is indicated. For example, with regard to Arthur, the ‘real’ column indicates the value 12 which, however, is not to be understood as the real value of the player, which was equal to 72 million, but it is only the difference in cash compared to the value of Pjanic (60 million euros).”

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