CEO Mario Cognini explains how Fiorentina became the financially healthiest Serie A club with “zero debt.”
The Viola went bankrupt in 2001 and dropped down to Serie C2, where a new club was born under the tutelage of the Della Valle brothers.
CEO Mario Cognini explains how Fiorentina became the financially healthiest Serie A club with “zero debt.”
The Viola went bankrupt in 2001 and dropped down to Serie C2, where a new club was born under the tutelage of the Della Valle brothers.
That side climbed all the way back up and is now challenging for Champions League qualification, but a study from credit agency Standard & Poor’s also found Fiorentina are the financially healthiest club in Italy.
“This means we are on the right track,” Cognini told La Repubblica newspaper.
“Two years ago we began a new journey to develop the club, but there is a lot of work still to be done. Fiorentina are at the top in terms of solvency and that is possible because on the one hand the revenue allows us to cover current expenses and on the other our owners put in no less than €15m per year to keep the books balanced.
“That means we have not needed to apply for loans and therefore have zero debt.”
Fiorentina and the local council also announced plans to build a new stadium over the next few years.
“Our calculations tell us that when the club will finally be firing on both cylinders with its own stadium, there will be a cash flow of €10m-€15m per year to pump into sporting investments.
“That’ll mean we can compete on a par with anyone.”