A.S. Roma - Associazione Sportiva Roma As A Company

Associazione Sportiva Roma As A Company

Since 1999, during Franco Sensi's period in charge, Associazione Sportiva Roma has been a joint stock company. From 2004 to 2011, Roma's shares are distributed between; 67.1% to Compagnia Italpetroli SpA (the Sensi family holding), 2.5% to Danilo Coppola and 30.4% to other shareholders.

In April 2008, after months of speculation, George Soros was confirmed by Rosella Sensi, CEO of Italian Serie A association football club A.S. Roma, to be bidding for a takeover. The takeover bid was successively rejected by the Sensi family, who instead preferred to maintain the club's ownership. On 17 August 2008 club chairman and owner Franco Sensi died after a long illness; his place at the chairmanship of the club was successively taken by his daughter Rosella.

Since the takeover in 2011, NEEP Roma Holding S.p.A. owned all shares Sensi previously hold. NEEP, itself a joint venture, is held by DiBenedetto AS Roma LLC (later renamed to AS Roma SPV, LLC) and Unicredit in 60-40 ratio, which the former had 4 real person shareholders in equal ratio, led by Roma current president Thomas R. DiBenedetto. After the mandatory bid, bought additional shares from the public sector, made the NEEP held 78.038% (increased from 67.1% of the Sensi).

Along with Lazio and Juventus, Roma is one of only three Italian clubs quotated in Borsa Italiana (Italian stock exchange). According to The Football Money League published by consultants Deloitte, in the season 2010–11, Roma was the 15th highest earning football club in the world with an estimated revenue of €143.5 million.

Since re-capitalization in 2003–04 season, Roma had a short-lived financial self-sustainability. The club had set-up a special amortization fund using art. 18-bis Legge 91/1981 mainly for the abnormal signing in 2002–03 season, (such as Davide Bombardini for €11 million account value, which the flopped player exchange boosted 2002–03 season result) and the tax payment of 2002–03 season was rescheduled. In 2004–05 season Roma made a net income of €10,091,689 and followed by €804,285 in 2005–06 season. In 2006–07 season the accounting method changed to IFRS, which 2005–06 result was reclassified as net loss of €4,051,905 and 2006–07 season was net income of €10,135,539 (€14.011 million as a group). Moreover, the special fund (€80,189,123) was removed from the asset and co-currently for the equity as scheduled, made Roma group had a negative equity of €8.795 million on 30 June 2007. In 2007–08 season Roma made a net income of €18,699,219. (€19 million as a group) However, in 2008–09 season saw the decrease of gate and TV income, co-currently with finished 6th in Serie A, which saw Roma made a net loss of €1,894,330. (€1.56 million as a group) The gate and TV income further slipped in 2009–10 season, made a net loss of €21,917,292 (already boosted by the sale of Alberto Aquilani; €22 million as a group) despite sporting success (the second in 2009–10 Serie A). Moreover, despite a positive equity as a separate company (€105,142,589), the AS Roma Group had a negative equity on consolidated balance sheet, fell from +€8.8million to negative €13.2 million. In 2010–11 season Roma was administrated by UniCredit as Sensi family failed to repay the bank and the club was put into the market, which also saw Roma did not had major signing in 2010–11 season. Co-currently with no selling profit on the player, Roma net loss was enlarged to €30,589,137 (€30.778 million as a group) and the new owner already planned a re-capitalization after the mandatory bid on the shares. On the good side, the TV income was increased from €75,150,744 to €78,041,642 as well as gate income increased, from €23,821,218 to €31,017,179. It is because Roma entered 2010–11 UEFA Champions League which counter-weight the effect of the new collective agreement of Serie A.

One of the subsidiary of Roma (joint venture with SS Lazio, 37.5% x2 and Parma, 25%), Società Diritti Sportivi S.r.l. was in the process of liquidation since 2005. The company was a joint-venture of 4 football clubs including Fiorentina. However after the bankruptcy of old Viola, both Roma and Lazio had increased it shares ratio from 25% to 37.5%.