The Piedmont-based company - in documents consulted by Calcio&Finanza - has stated that: "Otherwise, pursuant to IAS 38 governing this matter, where the transactions were considered exchanges and where even one of the two requirements (commercial substance and reliable measurement of fair value) necessary for accounting for the transactions at fair value (and, therefore, with recognition of the positive impact on the income statement mentioned above) was not considered to be met, the transactions could not be recognised at fair value."
However, this is not the case: Juventus, thanks to the sale of Alberto Costa, recorded a capital gain of over €2.4 million. Porto also reported a capital gain of €10.4 million from the transfer of Joao Mario to Juventus.