In the analysis, only financial payables were considered, net of payables to shareholders and related parties, and cash on hand. The net financial position of each club at the financial statement date was calculated in this way.
The following table shows the top clubs of Serie A 2019/20 ordered according to their net financial position (balance between financial debt and liquidity) at the financial statement date.
The only Club to present a positive net financial position is SSC Napoli, in light of the zero financial debts at 30 June 2020 and the liquidity of 123.8 million euros. A theme that the President of the Azzurri Club Aurelio De Laurentiis has often emphasized, recalling how SSC Napoli has no debts towards banks.
Juventus FC, in detail, against liquidity equal to 10.8 million at 30 June 2020 had 395.9 million in financial debt, of which 134.3 million short-term and the remaining long-term, down from 473, 2 million in total compared to 30 June 2019. The large part of the financial debt for the Juventus club refers to the 175 million bond issued in February 2019, to be repaid by February 2024: among others, there are also debts for bank loans equal to 100.2 million euros and advances from factoring for a total of 82.8 million, in addition to approximately 24.3 million relating to loans for the Allianz Stadium.
AS Roma as at 30 June 2020, on the other hand, touched 300 million in net financial debt, Roma, largely linked to the 275 million euro bond issued by the Giallorossi club in July 2019: 261 million, in fact they are linked to debts linked to the bond loan, expiring in August 2024.
As regards FC Inter, it should be noted that the debt figure as at 30 June 2020 does not include the loans made by the controlling shareholder Suning.
The only financial liabilities of AC Milan towards third parties are payables to factoring companies for advances on future credits in reference to commercial contracts.
These liabilities, according to what emerges from the consolidated financial statements of the Milan group at 30 June 2020, amounted to 115.17 million (94.284 million in 30 June 2019), but are in fact self-liquidating, considering that they are advances on receivables, such as rights tv or the collection of payments for players sold on the transfer market, which the club will collect in the coming months. A situation that unites the Rossoneri and also Lazio, whose debts are almost entirely attributable and advances obtained on future credits, such as transfer market transactions, the collections from televisions.
At the level of consolidated shareholders’ equity, however, as 30 June 2020 the situation was the following, with Juventus at the top following the capital increase launched in the early months of 2020.
As mentioned, this is an image relating to 30 June 2020. Compared to that moment, for example, in terms of debt, FC Inter has added further financial debts for 75 million (linked to the issue of a new bond last July), while in recent months Rome has seen the figure drop thanks to Friedkin’s conversion into capital of approximately 100 million shareholder loans.