By Andrea Caropreso
Index
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Yesterday’s news confirmed the formal readmission of Sampdoria at the expense of Brescia, which has been penalized 4 points for financial irregularities and relegated to Serie C. On the pitch, it had actually been the Blucerchiati who dramatically dropped down a division for the first time in their history. However, following the decision by the National Federal Court, Samp will now play the playout against Salernitana—unless appeals already announced by Cellino’s club are upheld.
Sampdoria’s Financial Situation
Sampdoria’s economic and organizational collapse began during the tenure of former president Massimo Ferrero. The ex-owner was arrested in December 2021 on charges of fraudulent bankruptcy. He resigned from the presidency, although he retained ownership of the club until roughly two years later. While Ferrero was later acquitted of the charges that led to his arrest, the club’s financial situation continued to deteriorate.
In May 2023, Sampdoria was sold to Andrea Radrizzani and Matteo Manfredi, who, through the company Blucerchiati Srl, subscribed to a convertible bond loan. This led Ferrero’s ownership stake to drop to 48.29%, then to 21% by the end of 2023, and finally to zero in 2024 after all disputes and ownership issues were resolved.
However, the new ownership inherited debts totaling around €200 million. Subsequent investigations revealed that the real owners might not be Radrizzani and Manfredi, but rather three investors from Singapore, with strong links to the betting site FUN88, a former sponsor of Tottenham and Newcastle.
The Financial Report
Given this context, managing Sampdoria’s finances has been extremely challenging. Covering such massive debts was no easy feat for the new majority shareholders, especially after the club was relegated to Serie B two years ago.
Last year, Sampdoria recorded its sixth consecutive loss-making financial year, with losses growing from €29.8 million in 2023 to €40.6 million in 2024. These numbers show the club’s financial distress, which would worsen significantly if it were relegated to Serie C, where revenues and income are substantially lower. Nevertheless, thanks to new management and recapitalization efforts, the debt situation has started to improve.
In the 2024 financial report, total revenue dropped to around €44 million, due to both the 2023 relegation and a €16 million decrease in audiovisual rights income. However, expenses also declined. Cuts to the wage bill and increased investment in youth development appear to be the core pillars of the club’s current financial strategy.
Looking ahead to the 2025/26 season, majority shareholder Joseph Tey has confirmed he will inject an additional €15 million, further strengthening the club’s recovery plan.
Playouts and the Serie C Nightmare
For now, Sampdoria finds itself hanging by a thread between survival and another relegation. The federal prosecutor’s office acted against Brescia due to missed tax (IRPEF) and social security payments to INPS on behalf of their players. Brescia claimed to be the victim of fraud by another company, but the court found that irregularities did exist. The ruling included point deductions for the club, six-month bans for president Massimo Cellino and his son Edoardo, who is a managing director.
The National Federal Court’s decision has temporarily granted Sampdoria another chance to remain in Serie B—a crucial step for the continuation of the club’s financial restructuring plan.
