Transfer market, Dragusin at Tottenham: Genoa collects 30 million for the former Juve player
Radu Dragusin was perhaps the great coup of these hours: the 21-year-old Romanian defender will be Tottenham's new defender. Genoa has practically concluded the operation for 30 million euros (plus the loan of Djed Spence), after a challenge in the transfer market which saw raises and counter-raises between the Spurs and the Bayern Monaco. With an attempt of the Milan (who could put striker Lorenzo Colombo on the plate) and the interest of Naples.
Dragusin, discovered by Juventus at 16: the exchange with Cambiaso from Genoa. Radu's rise in international football
A rich transfer for the Ligurian club that had signed Radu Dragusin permanently from Juventus in 2022, while the opposite path was taken by full-back Andrea Cambiaso (initially loaned to Bologna and from this year under the orders of Max Allegri: 16 appearances with 1 goal and 2 assists in the league for the 23-year-old Italian talent).
Juventus had discovered the 16-year-old Dragusin by signing him from Regal Sport București for 260,000 euros in 2018adding him to his youth selections first (Under-17), launching him into the Juventus Under-23 And then loaning him to Sampdoria and Salernitana before moving to Genoa in 2022. With the Grifone shirt the defender achieved promotion from Serie B to Serie A (this year 19 appearances in the championship also seasoned with 2 goals and 1 assist) and thanks to his performances (we are talking about a player who is physically strong, in marking and header: he is always dangerous on set pieces) last December he was awarded as Romanian Player of the Year. He is now part of his national team where he has already collected 13 appearances.
Dragusin, when Consob disputed the capital gain to Juventus. Today record transfer to Tottenham for 30 million
The Dragusin-Cambiaso operation had led Consob to ask Juventus for clarification on a minimum capital gain (less than 4 million) for a player sold at the time to Genoa for 5.5 million (plus 1.8 in bonus) and now gone to Tottenham in an operation worth 30 million, in light of a growth that places Dragusin among the best defenders in European football.
In any case, the Juventus club responded to Consob: “The economic and financial effects – of an insignificant amount – arising in the 2022/23 financial year derive exclusively from a so-called “cross transaction”, carried out in the month of July 2022, i.e. the sale to Genoa of the rights to the sporting performances of the player Radu Matei Dragusin for a consideration of €5.5 million (which generated a capital gain of €3.7 million), which was followed, in the same transfer window, the purchase by Juventus from Genoa of the rights to the sporting performances of the footballer Andrea Cambiaso, for a fee of €8.5 million”, the black and white club had explained. “According to Consob, Juventus would not have been able to recognize the capital gain of €3.7 million realized from the sale of the player Radu Matei Dragusin and would therefore have had to record the rights to Andrea Cambiaso's sporting performances at a book value lower than €3.7 millions. The net effect on the 2022/23 income statement of the elimination of the capital gain, the lower depreciation and the notional tax effect deriving from this different accounting treatment would have been negative for €2.9 million”.
The Juventus club, confirming the correctness of its actions, had wanted “on a purely subordinate and prudential basis” to evaluate whether the operation met the requirements established by IAS 38 and therefore the possible “configurability of said operations as exchanges of assets in place of separate and autonomous transactions”. Juventus therefore wanted to “verify the existence of the commercial substance requirement, calculating the difference between the prospective outgoing flows associated with the single acquired player and the prospective outgoing flows associated with the single transferred player, also considering aspects such as the probability of the outlay for the variable part of the remuneration (the so-called bonuses). This difference between flows was then compared to the purchase/sale prices of each player and the appropriate considerations were formulated in terms of significance”. Furthermore, he wanted to “verify the existence of the requirement of reliability of the fair value, comparing the agreed fees with those relating to other comparable (by price range) and homogeneous (in terms of characteristics of the players sold, such as age, career, etc.) sales transactions carried out between third-party clubs at European level”. Furthermore, the Juventus club underlined how the analyzes confirmed that “the fair value of the players involved is susceptible, again on the basis of the technical-accounting in-depth analyzes carried out by the Company with the help of external accounting experts, of a reliable measurement” .
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