The Italian Government has given a last-minute reprieve to Serie A clubs, allowing them to spread out a collective €500m in tax repayments, a decision that infuriated Napoli and Fiorentina.
The so-called ‘Salvacalcio’ amendment was shot down repeatedly by the Government, including Minister for Sport Andrea Abodi, who complained it would be insulting to the general public to see clubs given this extra help.
There were also sides like Napoli and Fiorentina who protested it would provide an unfair advantage to clubs who had not been able to balance the books.
It is essentially an extension of the option introduced during the COVID pandemic allowing sports clubs to spread out the payment of taxes and other contributions over a series of instalments rather than all in one go.
It was fought for hard by Lazio President Claudio Lotito, who as a recently-elected Senator, was able to work directly on introducing this amendment into the budget.
Overall, it will allow various sporting entities to delay the payment of €889m, but circa €500m of that is from Serie A football clubs alone.
According to news agency ANSA, clubs can pay over 60 instalments with a 3 per cent interest rate that is active from 2023 to 2027.
The first instalment must be paid by December 29, 2022.
Missing even one instalment would see the entire agreement collapse.
It was a truly last-minute deal, because otherwise the full outstanding figure would’ve been payable tomorrow.
Are there no laws regarding conflict of interest in Italy? Mama Mia!