Many companies in the Italian football, as we know, they have significant debts to the tax authorities. Some debts are truly impressive, amounting to several tens of millions of euros and in some cases exceeding 100 million. But how do the clubs pay for everything? They often require debt restructuring, as a club did a few days ago Serie A (read the news on football betting news here).
Monster debt: 106 million, here are the payment methods
The news was reported by football and finance. In detail, on November 2nd the request was sent to the Court of Genoa, insolvency section. In particular, the focus is on the restructuring of debts with the tax authorities for Genoa football.
What are the terms of this agreement? The club had a tax debt as of 31 December 2022 of 106.386.659 euros, Genoa guaranteed the tax authorities «the satisfaction of credits relating to taxes, sanctions and interests to the extent of 35% of their total amount», therefore equal to a total of 37.255.121 euros. In particular, these are previous debts, linked (explains the club) to the previous ownership.
«Any further debts that emerge from the subsequent settlements of the declarations relating to the years for which the manual settlement was carried out will be due at the rate of 35%», the company continues in the agreement with the Revenue Agency. The Ligurian club has already paid 4.427.271 euros, while 7.830.250 euros will be paid based on an already agreed installment plan. This leaves 24.997.600 euros, which the rossoblù club will pay in 20 six-monthly instalments, for a duration of 10 years.
