Torino is flying, but the numbers don’t add up: Cairo loses almost 100 million as owner

Turin, Urbano Cairo and the (almost) 100 million lost as owner of the Granata club

Urbano Cairo, editor of RCS Media Group and president of Torino Football Club, has recently been harshly criticized by Torino fans for his management of the transfer market. Protests aside, however, Cairo has other more serious problems with the team that is also third in the standings. Since he took over it in 2005, in fact, in 19 years it has accumulated almost 100 million euros in losses as a net balance between positive and negative financial years.

To reconstruct the “red garnet” numbers you need to read the 2005-2023 financial statements of Torino FC which Cairo controls through his holding company UT Communications. Cairo’s adventure at Torino started badly in 2005 (the team was taken over in September of that year) at a loss of 1.4 million.

Then came the 2006 losses (-3.8 million), 2007 (-3.8 million), 2008 (-3.9 million), 2010 (-11.1 million), 2011 (-14.7 million) and 2012 (-11 million). 2013 was a year of small profit (1 million), more robust in 2014 (10.5 million) and slightly lower the following year (9.5 million). The next two years It is still characterized by profits thanks to capital gains from the sale of football players: the profit for 2016 is 1.4 million and a whopping 37.2 million for the following year.

But since 2018, Torino’s balance sheet has remained in the red for six consecutive years: -12.3 million, -13.9 million (2019), -19 million (2020), -37.7 million (20231), -6.8 million (2022) and -9.5 million last year.

Let’s do the math: in 19 years Torino has closed 14 budgets in the red losing a total of over 157 million and has posted profits in just 5 financial years for a total of 59.6 million, with a negative net balance of 97.7 million which weighed on Cairo’s pockets.