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Istituto per il Credito Sportivo

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Istituto per il Credito Sportivo is an Italian public bank, majority owned by Italian Ministry of Economy and Finances (80.438%) as well as other private banks such as UniCredit, Banca Monte dei Paschi di Siena, Intesa Sanpaolo, Banca Nazionale del Lavoro, Assicurazioni Generali and etc.[1]

The bank specialized in sports venue, for example a €60 million loan to Juventus F.C. S.p.A. for its Juventus Stadium project;[2] The institution also formed a preliminary agreement with Cagliari of €17.5 million for the proposed new stadium in Elmas,[3] as well as negotiated with Bologna for the re-built of Stadio Renato Dall'Ara.[4] The institution loaned €20 million to Calcio Catania for its Torre del Grifo Village project in Mascalucia, as well as a liquidity swap with F.C. Internazionale Milano for €24.8 million,[5] A.C. Milan for €17.5 million (2011–14) by mortgaging the commercial income.[6]

Shareholders

Despite a public entity, Intesa Sanpaolo (previously Sanpaolo IMI and Banco di Napoli) and UniCredit (previously Capitalia and Banco di Sicilia) held 10.81% each in the institution until 2011, under a basis of €9,554,452 share capitals.[7] However a change in the status of incorporation had made the private sector ownership ratio fell from 73% to approximately 11%, under a basis of €835,528,692 share capitals.[8]

According to 2014 status, 45% profit would distributed as dividends and 50% went to increase in shareholders equity and a 5% either contributed to a special fund inside the institute dedicated to social and cultural activity.[9] The change in status had affected the ownership ratio thus affected the ratio of distributed the dividends.

References

  1. ^ "Dati patrimoniali" (in Italian). Istituto per il Credito Sportivo. 2011. Retrieved 2 June 2015.
  2. ^ "Second agreement with the ICS for the financing of further works in the framework of the stadium area" (PDF). Juventus F.C. 14 May 2010. Retrieved 2 June 2015. {{cite news}}: Cite has empty unknown parameter: |1= (help)
  3. ^ "Cagliari Calcio-ICS: conferenza stampa a Elmas" (in Italian). Cagliari Calcio. 15 July 2011. Retrieved 2 June 2015.
  4. ^ "Stadio, Bologna pronto con 100 milioni Ok del Credito sportivo per il progetto". Corriere di Bologna (in Italian). 21 January 2015. Retrieved 2 June 2015.
  5. ^ F.C. Internazionale Milano S.p.A. bilancio (financial report and accounts) on 30 June 2012 (in Italian), PDF purchased from Italian C.C.I.A.A.
  6. ^ "Relazione e Bilancio al 31 Dicembre 2011" (PDF) (in Italian). A.C. Milan. 25 June 2012. Retrieved 1 June 2015.
  7. ^ "STATUTO" (PDF) (in Italian). Istituto per il Credito Sportivo. 5 December 2005. Archived from the original (PDF) on 25 September 2007. Retrieved 2 June 2015.
  8. ^ "SUPPLEMENT DATED 25 SEPTEMBER 2014 TO THE BASE PROSPECTUS DATED 31 JULY 2014" (PDF). Intesa Sanpaolo. 25 September 2014. Retrieved 2 June 2015.
  9. ^ "STATUTO" (PDF) (in Italian). Istituto per il Credito Sportivo. 24 January 2014. Retrieved 2 June 2015.
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