Sampdoria have released a statement confirming their “faith in the work of the judiciary”, and defending Massimo Ferrero’s ownership.
The President had some of his assets seized earlier this week, as prosecutors accused him of embezzlement, fraud, issue and use of false invoices, money laundering and use of money, assets or benefits of illicit origin.
The cinema mogul denies the charges.
“While confirming our faith in the work of the judiciary, and the serene conviction to clarify every charge in the relevant offices, U.C. Sampdoria feels the duty to communicate some brief and meaningful clarifications, in response to some distorted media reports which don’t convey the real work of the club and it’s operation, and which serious damage its image,” the statement begins, before laying out four points.
“After the takeover in June 2014, and during the tenure of President Massimo Ferrero, the club has made profits of €3,232,818 [financial year 2016] and €9,286,928 [financial year 2017].
“In both financial years, at the close of the financial statements, it was decided not to distribute the profits to the shareholders, in order to reinforce the club.
“With regard to the current year, the club will close with a positive balance sheet for the third year in a row, confirming that the club is on a virtuous path, in stark contract with the recent past.
“It’s enough to consider that in the five financial years preceding the takeover by the club’s current management, it had accumulated losses of more than €100m.
“From December 31, 2014 to September 30, 2018, the club has invested €16.5m in infrastructure, mainly to improve the Bogliasco sports centre, building modern facilities for the first team and the youth team, as well as giving the academy a permanent residence, which never existed in the past.
“Additional investment of around €10m is already planned.
“The book value of the players owned by the club has risen from around €36.7m [on December 31 2014] to €78.5m on September 30 2018, confirming that in recent years the club has not lost value, but has increased its assets.
“The market value of the squad is significantly higher and, in the last 4 years, €165m has been invested for the acquisition of players.
“These clarifications, which are based on irrefutable data, are worth more than any other comment and are intended to make clear to our passionate fans the work done by the club.”