the latter was valued for Lire 10 billion. The operating income (excluding windfall profit from players trading) of 2000–01 season was minus Lire 113,271,475,933 (minus €58,499,835). It was only boosted by the sales of Francesco Toldo and Rui Costa in June 2001 (a profit of Lire 134.883 billion; €69.661 million). However, it was alleged they were to transfer to Parma for a reported Lire 140 million. The two players eventually joined Inter Milan and A.C. Milan in 2001–02 financial year instead, for undisclosed fees. Failing to have financial support from the owner Vittorio Cecchi Gori, the club was forced to windup due to its huge imbalance in operating income. Since re-established in 2002, ACF Fiorentina S.p.A. are yet to self-sustain to keep the team in top division as well as in European competitions. In the 2005 financial year, which cover the first Serie A season, the club made a net loss of €9,159,356, followed by a net loss of €19,519,789. In 2006 (2005–06 Serie A and 2006–07 Serie A), Fiorentina heavily invested on players, meaning the amortisation of intangible asset (the player contract) had increased from €17.7 million to €24 million. However the club suffered from the 2006 Italian football scandal, which meant the club did not qualify for Europe. In 2007 Fiorentina almost broke-even, with a net loss of just €3,704,953. In the 2007 financial year the TV revenue increased after they qualified to the 2007–08 UEFA Cup. Despite qualifying to the 2008–09 UEFA Champions League, Fiorentina made a net loss of €9,179,484 in 2008 financial year after the increase in TV revenue was outweighed by the increase in wage. In the 2009 financial year, Fiorentina made a net profit of €4,442,803, largely due to the profit on selling players (€33,631,489 from players such as Felipe Melo, Giampaolo Pazzini and Zdravko Kuzmanović; increased from about €3.5 million in 2008). However it was also offset by the write-down of selling players (€6,062,545, from players such as Manuel da Costa, Arturo Lupoli and Davide Carcuro). After the club failed to qualify to Europe at the end of 2009–10 Serie A, as well as lack of player profit, Fiorentina turnover was decreased from €140,040,713 in 2009 to just €79,854,928, despite the wage bill also falling, la Viola still made a net loss of €9,604,353. In the 2011 financial year, the turnover slipped to €67,076,953, as the club's lack of capital gains from