The AS Roma president James Pallotta and his group of investors injected other money into the AS Roma account to give business continuity.
According to an article written by Carlotta Scozzari for BusinessInsider, James Pallotta and his group of investors are still pouring cash into the AS Roma accounts. By analyzing the AS Roma financial statement 2016 it was clear that the Bostonian investor injected money to give continuity to the business of the giallorossi. BusinessInsider highlighted that a further payment has been made. Between June 30th, 2016 and December 31st of the same year, Neep Roma Holding (a company vehicle of AS Roma) injected €78 million into the AS Roma accounts. €70 million refers to a “future capital increase” while the remaining €8 mln are mentioned as “funding partners”. James Pallotta and his group of investors proceeded in this way to assure the business continuity to the giallorossi and to pay the salaries of the players and taxes.
Pallotta puts 78 million into AS Roma’s accounts. Why?
In addition, as explained by BusinessInsider, the payment made incremented the net assets of the subsidiary in reference to the data recorded on June 30th, 2016. By doing so, the economic issues experienced in the previous financial period have been overcome.
According to AS Roma’s financial statement 2016, the club recorded €10.4 million loss, a situation that pushed James Pallotta and Co. to make a new substantial investment to rebalance the accounts.