The investigation by the Guardia di Finanza focuses on the so-called “clearing house” system, which would not exist outside Italy
An aspect on which the Milanese investigation for false accounting on theInter, with at the center suspected capital gains on the sale of players, is the “system”, not only used by the Nerazzurri club, but widespread in the Italian transfer market, of the so-called “clearing house” on exchanges between players of two teams which often take place without passing money or with “frozen” money movements and then carried out only at a later time. A mechanism that, according to what has been clarified, does not exist in other countries. And the Milanese investigators must evaluate how it affects the regularity of the financial statements.
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Inter, from Bettella to Pinamonti: all 2017-19 capital gains
From what has been reported, only in Italy does this “clearing house” mechanism exist which allows – during the exchange of players between two teams that can precisely generate capital gains in the balance sheets, ie the increase in revenues – not to move money and to ‘freeze’ the passages of money. And this is one of the main themes at the center of the Milanese investigation, conducted by GdF and coordinated by the adjunct Romanelli and the prosecutors Cavalleri and Polizzi, because it will have to be assessed how this system has affected the financial statements and whether it may have created other profiles of alleged irregularities. Meanwhile, particular attention in the file is also placed on contracts with a “buy back” clause, also widespread in the transfer market: a company sells a player generating a capital gain for that year, keeping the price of the ‘tag’ high, and then he buys it back the following year at a price higher than that at which he sold it, however, amortizing the costs and spreading them over several years.
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Inter investigation: Finance investigates “repurchase” clauses
While the other team, which buys it and then resells it, realizes in turn a capital gain. The Milanese investigation – starting from a dozen transactions, including exchanges, sales, loans, budgeted by Inter between 2017 and 2019 for about 90 million euros in capital gains – focuses on those in which the players would be been evaluated for figures that appear to be “markedly disproportionate” to actual values.
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Inter, Marotta: “Capital gains? We are serene, we have always acted correctly”
And this could have served, according to the hypothesis under consideration, to beautify the budgets to be able to participate in European competitions. Among the cases under consideration are those of the goalkeeper Ionut Radu (7.7 million capital gain) and the attacker Andrea Pinamonti (capital gain 19 million), ‘rebounded’ between Genoa and Inter in two years, but also by the defender Zinho Vanheusden or other low-mid-range players.
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