Breaking: "Il caso Inter" reaches court after the size of Moratti's debts are revealed.
Milano - Inter fans may be forgiven to think a 50m debt would have scared a potential buyer in Erick Thohir. The truth is, 50m would've been a drop in the ocean for the Indonesian businessman. Sadly for Nerazzurri fans, the harsh reality is that the real debt inherited from Moratti is almost 6 times that, sitting at 285m Euros, on top of an existing 300m "legal" debt. To make matters worse, the 285m debt is all the more crippling due to a 12% interest rate, and the club having to repay it by 2018. It is believed that the club needs to raise at least 45m Euro before the start of the season just to survive the year. With the club facing imminent financial meltdown, Milan judge Girolamo della Scala has decided to include the misuse of club assets in his current corruption case against Massimo Moratti.
The judge has called Moratti's actions "much more immoral than illegal", lamenting his inability to do much for the club as many of Moratti's actions benefit from several loopholes in the Italian penal system. He has also urged prospective buyers and fan organisations to put together a rescue package for the club. In this regard, he's also petitioned the supreme court to allow Moratti's shares to be immediately put in the market and allow him to oversee the bidding process. In the meantime, he appointed a hand-picked team of accountants and finance experts as administrators of the club with the intention of cutting costs and raising funds by player sales in an attempt to keep the club alive until a suitable offer came along. "I will not allow" judge della Scala said, "an entity that employs hundreds of Italians and represent millions of people worldwide suffer such an ignominious collapse".
Meanwhile, in a surprisingly hostile move, the Milan City Council rescinded Inter's contract to rent the San Siro/Giuseppe Meazza effective from July 1, 2013, due to insolvency. Instead, they signed a new deal with Milan which will see the
Rossoneri get extended use of the facilities in return for a percentage of gate receipts going the other way. While it's true that Inter have no way of affording the Meazza as things stand, this decision has sparked criticism all over the city and the football world, who see this as a petty, fan fueled attack on Inter. It's believed that the Nerazzurri will now have to turn to the Arena Civica Gianni Brera to play their games, and while it will certainly be cheaper it's lower capacity means a reduced income can be expected.
More information on the subject can be found in our sports supplement.
Inter exodus begins as financial woes are revealed
Milano - In a short press conference held at the Meazza, Walter Mazzarri announced his decision to step down as Nerazzurri manager mere weeks after being unveiled at the helm. Claiming his "ambition as a manager could not be fulfilled in the current state of affairs" and lamenting that "he was brought in to lead a project that was, in the end, nothing but a lie" from former owner Moratti, he wished the club well for the future and anounced he would refuse payment for his "services".
Mazzarri's departure is thought to be the first of many, as the administrators have put the whole squad on the market. Furthermore, the entire backroom staff, including physiotherapists and scouts, have agreed to leave the club without a severance package in order to cut costs, while remaining open to a return if and when a new manager is appointed and requires their services - provided they're willing to match their valuation of their services. The rest of the non-playing Inter employees, and this includes groundsmen, secretaries and security personnel, will be retained by the club as their salaries (unlike those of the aforementioned backroom employees) do not pose a threat to the club's economy.
Regarding the managerial vacancy, it is believed the administrators have lined up an Inter Primavera coach as Mazzarri's replacement, at least in an interim capacity, as they feel the club is in no position to afford a world-class manager. This rumour has been further fueled by the fact that no less than 34 primavera players have been released as the cost of the youth programme was deemed to high for the club's current situation, although those youngsters deemed most promising have been retained, which could be owed to a "selection process" carried out by Mazzarri's alleged succesor, whose name has not yet been leaked.
The name of Mazzarri's successor is yet to be revealed.
The appointment of an unproven youth manager is bound to go down badly with the Inter faithful who still remember Stramaccioni's tenure as a low point in the club's recent history. Things will unfortunately get worse for them as Stramaccioni is believed to be part of this new manager's coaching staff, having been colleagues in the Primavera setup for a few years. But these are hardly the worst news for the loyal Nerazzurri supporters.
The Federazione Italiana di Giuoco Calcio has declared every transfer made during this last transfer window null and void as part of the legal process against Moratti. Those players signed on free transfers will be released to the free market pool, with the club having the chance to resign them provided they can agree to new terms, which are expected to be reduced. Thos players who were bought from other clubs have been returned to their former employers, while the transfer fees will still be paid, although this payment will be deducted from Moratti's frozen assets and not paid for by the club. The following transfers have been cancelled due to this resolution:
Michael Ventre has returned to Genoa.
Alessandro Capello, Saphir Taider and Gabi Mudingayi have returned to Bologna.
Andy Polo has returned to Peru's Universidad SM de Porres.
Hernanes has returned to Lazio, while D'Ambrosio has moved back to Torino.
Hugo Campagnaro, Juan Pablo Carrizo and Andreolli have gone straight to the free agent pool, while Ruben Botta immediately re-signed with former club Tigre, spending mere minutes unattached.
Something similar has happened with those players on loan. Footballers loaned in have returned to their parent clubs, but those loaned out will stay loaned out, even those who have been brought in this season, as the FIGC believed involving other clubs will only further complicate the matter, particularly when player salaries are to be covered by the loaning clubs.
In what has turned out to be the biggest scandal in Italian football history, it remains to be seen whether there will be any further punishment for Inter, with relegation to the lower leagues, which would be a disaster for the only club that has never been relegated from Serie A, and a transfer embargo being mooted as posibilities. Inter fans may rightly wonder what the punishment is for, seeing as they've been the most affected by Moratti's actions.
