One Verdict, Four Clubs at Risk: Serie A’s January Could Explode

Lazio transfers in a state of anxious waiting. Three other Serie A clubs are currently in the same status. The Independent Commission for the Supervision of Professional Football and Basketball Clubs’ Finances will announce its verdict in the next 24 hour. The outcome will determine whether they will be able to operate freely in the January transfer window or on a zero-balance basis.

Why Lazio Transfers Could Be Free to Spend — or Fully Frozen

Starting last summer, a government-appointed but independent commission was established to replace Covisoc. In fact, Covisoc, was an internal commission of the Italian Football Federation used to make judgements on club financials, taking into account three indices:

• Liquidity (the ratio between current assets and liabilities)
• Indebtedness (the ratio between debts and revenues)
• Extended labour costs (the ratio between labour costs and revenues).

That was the past. Now, the new body will consider only one criterion, aligning itself with UEFA’s commissions in this respect. To comply with the rules and be given the green light, clubs must ensure that their total labour costs do not exceed 80% of their revenues. Any club in this situation will not be able to operate freely in the transfer market, but will only be able to carry out incoming and outgoing transactions that balance each other out.

How the Independent Commission Changed the Transfer Game in Serie A

Lazio situation is a bit delicate. The Roman club exceeded each of the three indices used by Covisoc to approve player transfers. Had it respected the threshold of just one of those indices, it would have been permitted to carry out zero-balance transactions. Sticking with the theme of January, will Lazio at least break even in the transfer market? Yes. However, they could also make a total release. According to rumours, the Roman club has submitted accounts showing a labour cost/revenue ratio close to 80%. It all depends on how the commission evaluates the inclusion of a credit for future TV rights. If this is deemed admissible, Lazio will have a free transfer market.

Lazio And Three More Clubs Under Scrutiny

But what if that doesn’t happen? Is there a way out? Well, yes. The NOIF regulations allow for the situation to be rectified in the coming days, before the start of the winter transfer window, for Lazio and other clubs that may be affected. This can be achieved through two alternative measures: a capital increase or the inclusion of future receivables.

These are obviously rumours. However, it seems that three other clubs are at risk of having no transfers in the winter window: Como, Fiorentina and Napoli.