It was one of the trades on the last day of the market and the one that raised the most eyebrows due to the amounts involved. Sporting signed Marco Cruz from FC Porto for €11 million, with the dragons taking Rodrigo Fernandes, from the lions, for… €11 million.
In the report and accounts for the first quarter of 2021/22, SAD Leonina addresses the business, speaking of a «transaction with no impact on results and on intangible assets.
«Sporting SAD carried out an operation to exchange the player Rodrigo Fernandes for the player Marco Cruz of FC Porto SAD, valuing this operation at 11 million euros. Despite this operation having a strong sports rationale and a reasonable and sustained value for Sporting SAD, this transaction had no impact on results and on intangible assets – Sporting SAD’s squad arising from the interpretation provided for in the IFRS/IAS (international accounting standards used by the Sporting SAD), more specifically IAS 38, which establishes that in the event of an exchange of non-monetary assets, and despite the support of the value attributed to the transferred player, the accounting recognition must be carried out using the balance sheet value of the transferred asset , in this case that of the player Rodrigo Fernandes who, at the time of the transaction, was zero», can be read.
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