... and it's possible he never planned to build the stadium knowing the financial situation. Look at all the money JP spent trying to get the stadium and he was going to build it with his own money. Hard to imagine Friedkin is going to throw any more money at it AND then foot the entire bill. I'm not sure he'd be willing to pay for the entire thing even if he was given the ok. Maybe he would, but we haven't seen a statement from him about it.
I'm not commenting on their stance/plans for the stadium. But the financials that just came out would have already been known to the Friedkins, so insinuation that there are new developments in their stadium position now that the financials are out is bs. The financials are only new to the public-at-large.
Because he feels he can turn it around and sell it for 1 billion. If he builds the stadium that means another 100-200 million he'll sink into the club. Is the clubs value going to go up to 1.5 billion with the new stadium? Maybe, maybe not. Besides, if he's learned anything its how painfully slow stuff moves in Italy. Say he gets approval, how long before he starts seeing any return? It's not just the pre-construction where Italian bureaucracy flourishes, he'll likely run into all kinds of delays. He strikes me as a guy who does his homework. Is he going to sink 50 mil into starting the construction only to run the risk that 10 years later it's still not done? That's a very real (and likely) possibility in Italy. JP was one in a million.. an owner willing to pay bill for a new stadium, are Roma lucky enough to run into 2 of those guys? Maybe but I think they'd be crazy to risk their money without Rome and Lazio having a skin in the game. As we have seen it's nearly impossible getting approval when they aren't paying a dime, imagine how hard it will be if they have to kick in some money.
0 chance, any one who understands anything about finance knows that he wouldn’t risk 800M just to try to turn it around and sell it for 200M more, that is a horrible investment. Dan already has an agreement with the Czech guy who owns the land and had a meeting with Raggi a week ago after which she confirmed the intention to go ahead with the project. These sport journos never understood a thing about finance and write the dumbest shit. I wrote in this thread 16 months ago that Roma are on pace to lose 150M in 19-20 and that was before the virus, the Friedkins knew the exact numbers a year ago and then waited a little to see how the virus situation will affect the club. They might have expected 20-40M more in capital gains in this mercato but that is not something that would change their plans for the club.
https://www.football-italia.net/160274/roma-ran-204m-euro-loss Roma ran at 204m Euro loss Roma have confirmed losses of €204m, the second highest figure in the history of Italian football after Inter’s €207m in 2006-07. The statement was released via the Consob Italian consumers’ association for accounts up to June 30, 2020. This also means the club had debts of €242.5m, an increase of €115m compared to June 30, 2019. Soon after that period, AS Roma was sold to new owner Dan Friedkin and The Friedkin Group, ending eight years of James Pallotta rule. "Better Ran Club!", Matrim
we should just change our name and logos to ASROMACRIME! The bad boys of Serie A, but not like Juventus bad either, lol
I agree. It’s an awful lot of work to make 200m profit over the expected amount of time it would take to fix this mess. The loss is nothing new to the owner and this shouldn’t impact his policy going forward given he’s been analyzing this purchase for a few months.
@OfficialASRoma in trattativa più che avanzata con @newbalance come nuovo sponsor tecnico: bozza di accordo per 4 anni. Si attende approvazione definitiva e via libera di #Friedkin. #ASRoma #newbalance— Matteo De Santis (@matteodesant) October 8, 2020 New Balance will take over from Nike.
Adding to this, Friedkin might consider delaying the project, or might make some changes to it, after all this is Pallotta’s project and not theirs. But there is 0 chance that he doesn’t want the stadium. The club as it stands is worthless, if there was no stadium on the horizon no one would have touched this sinking ship and Roma would have had to start from the 4th division. The stadium is the only reason why anyone would be interested in taking a business that makes 150-180M recurring revenue without CL and has 300-350M annual expenses. But from these numbers one can immediately guess that there will be a cost reduction plan implemented over the next 2-3 years hopefully coupled with an increase to revenues from TV rights. If everything is done right, we could reach a break-even point around 200-250M or so.
I guess we will see but honestly, @falvo and I have been saying from the very beginning the stadium was never going to get built. We are 10 years on and we are no closer really. If Friedkin makes changes to the project they will have to start from square one on the approvals again. I actually have a double major in Finance and Economics (although I got into IT and didn't really practice) so I understand investing well. The 800 mil is a sunk cost and Friedkin isn't going to pour more money into a losing project. A good investor knows when to take his profits or losses and walk away, not pour more money into a bad investment. Now I don't think Roma without a stadium is a bad investment. I think if they can get the finances in order, if they can get better sponsorship and develop a better plan for building a constant CL qualifier they can increase their merchandising thus the value of the club. Inter and ACM do ok and they don't own a stadium. People just need to realize the stadium isn't going to get built, it just isn't. Even if they get approval and start there still is no guarantee it's finished in 5 years.
Except he just bought the club so your statement makes very little sense. He bought the club knowing that it’s worthless at the moment with the goal of flipping it and qualifying for cl and buying low and selling high isn’t going to cut it.
again, I don't agree that it's worthless. If he creates a consistent CL qualify club, better sponsorship deals he can see a nice profit.
Serie A, in general, is not a good investment without hopes of new stadiums. That's why you're starting to see more and more foreign investment in clubs and the league's tv rights. It will happen eventually, it's just a matter of who is at the helm and reaps the ultimate rewards.
The stadium won't magically cure Roma's ineptness on the pitch. Friendkin had knowingly spent a lot of money into this troubled club to gamble on just the stadium project that would or wouldn't happen in the next 10 years. He knew about our incomes and expenses before he bought us, so he must have a plan to get things on track there as soon as possible, by either lucking into CL or decreasing the insane amounts of money we're spending on a sub-par squad. I also believe that one of Jimmy's biggest flaws was his inability to bite a short-term loss for a long-term gain with the stadium, he always treated it as the golden duck that's just about to lay an egg and that prevented him from making better time with his negotiations over the deal. If Friedkin is ready to make a 100-200mil. additional needless expense on the staidum to satisfy the political crooks, he'll have it faster and he'll get those extra 100-200mil. back eventually, in 10-20 years. For Pallotta is was always about the real estate side of things, but if Friedkin treats it like part of a bigger project, he might get it done and soon-ish.
Smartest thing you've said in the last few months. You should have just stopped there rather than ruin it with another nerd essay. KISS buddy. Keep It Simple Stupid
You two going to meet up to ******** or what? After how many pages of back and forth is it too much foreplay?