Marco Liguori and Salvatore Napolitano (04/12/2004)
A little 'dated, but as this is Juve ...
Via del Carmine is a long street in the center of Turin, which has more than one link with the national football. Towards the end, namely at number 29, there is in fact the center of the shell company, and shortly after it embarked on the piazza Savoia, number 2, is the study of the president of Juventus, the lawyer Franzo Grande Stevens . Continue for about two hundred meters, at number 10, stands instead of a mansion on the corner street of the Quarter. On the second floor, in the same office, there are the sites of two trusts: the Nomenfid and Simonfid. In fact, according to an overview of the Chamber of Commerce, the stessopalazzo is also home to a third trust, the Sofegi, checking with the Simonfid 76.72%. But the intercom Sofegi \u200b\u200bnot appear. All three have a special relationship with the world of football, we'll find out in a few lines.
E 'now useful to step back in time and remember what happened in July 2003: the 15th, the City of Turin and Juventus have signed the act that set up the right area for 99 years on the Delle Alpi stadium and adjacent areas: in exchange for the now famous tip of € 25 million (the misery of 4 , 68 € per year per square meter, when just to install a bench for the sale of used books or flowers are needed 76.65) the Bianconeri had the right to build on an area of \u200b\u200bone square meter shopping center 54mila , a multiplex cinema, the venue and the museum. The total area is also about 350 thousand square meters. So, among other things, the management of the Delle Alpi is passed by the City to
hands eagle. It was necessary therefore to find someone who is dealing with it: with the speed that characterizes the top management, July 28 Juventus
established a new company, Semana, which holds 30% stake. The remaining 70% is held by the ESE, a company, as stated in the budget
black and white, "working in the field of management of sports facilities." Finally, on August 12, Juventus has signed with the Semana a contract for the provision of services relating to the management of the Delle Alpi
Everything is normal? Not really. The professionalism of the management course Galileo Ferraris is continually recognized: so why entrust the management of the stadium to the ESE, which, as mentioned by the Register of Companies kept by the Chamber of Commerce of Turin, was incorporated on May 8, 2002? What experiences in the management of sports facilities could claim to be chosen for a task so important? Perhaps the company was born recently, but its members had gained significant experience. And here the mystery grows. Stockholders of the ESE is only known that there are two, but do not know the identity: 90% of the capital is secure from Simonfid, the remaining 10% from Nomenfid. Juventus if they will ask why? Sure, it's a curious coincidence that two separate members entrust their shares to two different trusts, whose headquarters is located in the same, however, the same office. It is not the only delicious coincidence of Simonfid has already said that the control belongs to another trust, the Sofegi. In turn, it has three partners: Franz, Richard and Cristina Grande Stevens, president of Juventus or father and their offspring. And Nomenfid? E 'controlled only by children: the
52% of Richard, 18% of Cristina. In summary, Juventus has entrusted the management of the Stadio Delle Alpi in a newly formed company, Semana,
whose control is in the hands of the ESE, in turn born recently, the shareholders have chosen two trusts controlled by the family to take care of Grande Stevens shares. Here, as in the case of the Gea World, there are plots between children and parents famous.
jumping from one node to another, as president and CEO of Semana was appointed Alessandro Gilardi. It 'a surname which occurs in the affairs of the house by June 30, 2003 Juve: he's just the CEO of the Spa Costruzioni Generali Gilardi that allowed the company to Corso Galileo Ferraris to close with a modest profit of € 2 million and 150 thousand the budget last year. All thanks to the original exchange focused on the sale of 27.2% of the fields Vinovo Spa, owned by Juventus and owner of the land on which Vinovo and Nicholls rise project called World Juve (with the future of the teams training camps eagle as well as a new layer of cement to put up a shopping mall) at a price of € 37 million and 300 thousand, with a gain of less than 32 and a half million euro. Because the original? Because at the same Juventus Gilardi granted the right to sell the same amount when purchased at the same price. It could be argued that if the 27.2% of the fields has been reviewed Vinovo 37 million and 300 thousand euro that figure is appropriate. Not at all: making a simple proportion, that price is equivalent to a total valuation of the fields Vinovo 137 million and 132 thousand euro. In the last budget year, ended June 30, 2003, it obtained a total profit amounted to 4 thousand euro.C 'is a primitive but effective indicator to determine if the assessment is in line with economic fundamentals: the relationship between price and useful. The historical average for listed companies, therefore, extremely significant, is around 13. It means that, for the same profits, the initial investment is repaid in 13 years. How easily occurs in the case of Fields Vinovo, the ratio was 34,283: an unbeatable world record. Moreover, there is nothing new under the sun: bread (in modern guise of a lot of money), love (in the form of family plots) and fantasy (in the assessments of the budget). But unfortunately it is not as beautiful as the film Luigi Comencini, starring Gina Lollobrigida and Vittorio De Sica.
Liguori and Marco Salvatore Napolitano
(courtesy of the authors, source: the Manifesto of Saturday, April 10, 2004)
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