TURIN, September 29, 2011 - Antonio Giraudo has invented a neologism of effect - Doping Administration - to attack the spendthrift competition. These were the years of the Triad, disputed but witnesses a case history: to win on the field and keep budgets in profit. Seven seasons in a row with the PLUS sign, between 1996 and 2003. Then came Farsopoli and nothing was as before.
Juventus ended in June, the worst year in her history, with a deficit of 95.4 million. More then milan and *bleep* , accused in the past by Juventus stay afloat only thanks to the patrons of blank checks Moratti and Berlusconi. The Agnelli, however, were convinced that the toy should be self financing. And for a while it was like that. With the scandal of 2006, this toy has been shattered. So much so that the family, after the capital increase from 105 million in 2007, has put another 120 on site, that at the meeting of October 18 will be called to pass.

Not anymore a big. The output from the European elite, the fall in revenues, the frantic rush of errors made ​​also on the transfer-market. The accounts photograph a Juventus who can no longer be considered a big of the Old Continent. Real announced a record turnover of 480 million? The black and white fell to 154 (minus capital gains) , -25% compared to 2009-10. In Italy, milan and *bleep* are away, we are below Rome and Naples.
The breakdown of the collective TV rights has been penalized (more than 10 million of net losses), but also leap to the eye of a minor appeal effect: -3.2 million incomes for friendly, -2.4 million of revenue from t-shirt sponsors . The costs, therefore, are unbearable. Suffice it to say that the staff costs eat 91% of revenues. With a clarification. Management has initiated a reduction in real of total wages: between pay and variable premiums, the cost of card holders decreased from 117.3 million of 2008-09 to 109.5 million of 2010-11. In calculating the total weigh of the 12.3 million taken out incentives for so-called exodus: the "liquidations" dates on Camoranesi, Trezeguet and Jonathan Zebina to remove the noise.
Exactly the "disposals" of the players pool are at the base of the renovation project. The problem is that not everything is speeding up. The operations marked out this summer, that will impact on the budget 2011-12, produced just 5.6 million capital gains. It is a sign of failure of some market operations. Portugal's Tiago, bought for 14 million, was let go one year before expiration, devalue as Grygera , as Amauri (in January under the junction). Better to do so and save salaries. But once the Juve was fed with the super sales, like Zidane.

Perspectives. Andrea Agnelli is playing to risk it all. He knows that only a permanent return to the 'El Dorado of the Champions League can guarantee a solid future to Juventus, a ' sustainable development '. This explains the heavy investment to upgrade the workforce: to the 51 million of last season's another 90 have been added in this summer session. In so doing, depreciation merely grow, causing loss of income. Only an upsurge in sales can put things affixed. The stadium will give a big hand: from this year, revenues will increase significantly, although the loan repayment will start to sport Credit . The 2011-12 budget will record a loss still "significant." That's why everything comes out to the Champions: the only way the business plan due in 2016 will be a success.

source: La Gazzetta dello Sport
by: Marco Iaria
adapted by:Mike Prise from zizoufans