AS Roma still looking for prosperous bidders
Italian Serie A outfit AS Roma’s financial woes have been well documented in recent times. The capital city had been with the Sensi family ever since the late Franco Sensi took over the club in 1993.
Franco passed away in 2008 and the club is being run by his daughter Rosella ever since. Following Sensi families ever mounting debts and the inability to clear them off, Unicredit Bank has now taken over the club and is looking for potential buyers. Several
takeover bids have been linked with the club but Rosella has come out in the press recently only to moot such rumours. She said, “There are no ongoing direct negotiations with any potential buyers of the club.” The president however made it clear that the
club was indeed looking for buyers, “Our advisor Rothschild is proceeding according to a scheduled programme of activities in selection of potential buyers,” she added.
The club is going in a loss; Roma’s failure to feature in the last season’s UEFA Champions League competition has hit them hard. The company is in a consolidated loss of 13.2 million Euros and expectations for the 2010/11 season remain low following the
club’s horrendous start to the season. Many fear for the club’s future as Gilarossi will have to sell its players to raise appropriate cash to run the club or approach a bank for further debt.
Following is the club’s official stance on their financial position:
“Based on information currently available and in the absence of extraordinary events or operations that may see transfer of ownership implemented, it is expected that 2010/11 financial year will close with a significant loss. However, the club will be making
any necessary financing operations to cope with the expected negative trend for the year”.
AS Roma closed last year with a consolidated loss of 22 million Euros and 8.5 million of net debt (compared with a positive net financial position to 20.8 million in the previous year). The club lost on 26 million Euros as they failed to appear in the UEFA
Champions League.
The club’s financial position might improve somewhat as the Gilarossi are appearing in the UEFA Champions league this season but will be adversely affected by the complications resulting from the entry into force of legislation on the marketing of broadcasting
rights. AS Roma issued fan cards this time around to increase attendances at the stadium. The move paid dividends as the 24,861 subscriptions were inked compared to 18,617 a year ago.
With the club in such a delicate situation, it is looking increasingly likely that a transfer embargo will be forced on the club. AS Roma is a global brand with a fan base that is spread across the club. The Gilarossi faithful remain optimistic that a club
of Roma’s stature will soon be taken out by a prosperous body.
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