Football Manager 2023 – Genoa CFC: Mister (2)

Ad Maiora Semper

Ciao, and welcome back to the second half of the first season at Genoa CFC. In this piece, you’ll read about the winter transfers, see how we finished off the second half of Serie B, and the financial impact of being in Serie B alongside my transfer business.

Winter transfers

After the defeat to Frosinone, Albert Guðmundsson had the temerity to come to me and challenge me on how I spoke to the team during my team talks. I didn’t appreciate his tone, so he went straight on the transfer list, offered for sale, and put into the Under-18s for good measure. A number of teams came in for the Icelandic international, but it was Mainz that sealed his signature for £2m. As you’ll see below, this netted us a net positive financial return on his time are the club given his remaining book value, as well as a very useful £2m in cash to help support our haemorrhaging of cash.

For similar financial purposes, I looked to sell Milan Badelj. At 33-years of age, and about to turn 34 in February, I wanted to extract any value I could from him. Aware I was going to take a hit on his book value, I didn’t care, given he was on £43k/week. Selling him saved £1.2m purely in his basic wage. The fact I only receive £86k from Cruz Azul, the equivalent of just two weeks wages for Badelj, is neither here nor there – I removed an unhappy player who wasn’t playing and wasn’t going to be offered another contract to add to the one that was expiring at the end of the season. On balance, this sale made financial sense.

The other player to leave was Caleb Ekuban. He’d been back up to Yeboah, but whenever he’d been given the chance to experience some minutes in his place, he looked like he’d struggle to score in a vacated goal. His shooting was wayward, and it wasn’t like we weren’t creating the same quality of chances for him. When he came to me asking to go out on loan, this seemed a good idea for both parties. Hopefully in his time at Sturm Graz, he’s able to put together a run of form to rebuild his confidence.

Despite the aforementioned financial difficulties,  I did consider bringing in a signing as cover for Yeboah on a permanent basis, I realised that if we could continue our existing form, we were likely to achieve promotion to Serie A. As such, I didn’t want to sign someone to a permanent contract who might be a good fit now, but in six months time be left with someone lacking the necessary quality to compete in Serie A. Consequently, I decided it better to look into the loan market, and add to our loanees. The search for a target didn’t take long once I spotted the name of Ezequiel Ponce. The 25-year-old Argentinian striker was unloved at Elche, and a deal was quickly agreed to bring him to the Luigi Ferraris stadium.

This meant that the squad looked like this after our Winter transfers:

League update

In truth, we won Serie B at something of a canter – the league was wrapped up with four games to go and promotion had been obtained two games prior to that. We dominated the league, going on a twenty-four game unbeaten streak, as we barely had to rotate beyond suspensions and relatively minor injuries, except Alessandro Vogliacco who broke his ankle. Our relative goal difference tells you the story of our superiority over our peers – in only four games did we have a negative xG-xGA difference.

Player analysis

This achievement, as stated in the mid-season review, is in no small part down to the form of Kelvin Yeboah, but also Mattia Aramu, Aldo Florenzi, and Henrique Pereira – my front four (after the sale of Guðmundsson). It’s only right that we take the time to investigate just how good they performances were.

In the below player analysis, rather than just copying across the in-game graphic of his spider chart to show how good each was in Serie B, I’m going to look at how well they did relative to that of other, comparative leagues. The reason for doing this is that there could, for example, be a relatively small number of players with sufficient minutes playing as a wide forward in a single league, so utilising other leagues to make a comparison makes it somewhat more reliable. The leagues I’ve chosen are 2. Bundesliga (Germany), PKO Bank Polski Ekstraklasa (Poland), Fortuna Liga (Slovakia), Ligue 2 BKT (France) and of course Serie B. The reason behind choosing these leagues is that they are all European league, with the same calendar for their respective sessions, and who are roughly comparable with Serie B given their league rankings. All players who have had their data gathered have all completed 1,000 minutes or more to avoid any small sample size of minutes skewing the data.

Kelvin Yeboah – Capocannonieri Serie B winner

Yeboah typically played with tremendous freedom, utilising his fantastic pace to run in behind defences when they had pushed up, resulting in him having a number of one-on-ones which he calmly finished on a pretty regular basis. I’m not going to pretend that he scored every week – he did, despite his fantastic figures, have some barren spells. Yet it was so often his goals which separated us from our opposition – his speed, composure, off the ball movement, and his finishing ability saw him finish the season as Serie B’s top goalscorer.

Aldo Florenzi

As the first signing I negotiated after I took on the role of Genoa manager, it was fantastic to see Aldo Florenzi perform to the standard that he achieved over the course of the season. Playing as an advanced playmaking 10, he demonstrated the ability to play the killer pass and to hit the back of the net all in one shirt. His radars show just how brilliant he was in front of goal, taking the burden away from Yeboah, whilst also nearly topping out (5th out of 109) of the assist makers per ninety across the five chosen leagues.

Henrique Pereira – Miglior calciatore giovane winner

The other new signing at the start of the season under my stewardship, when Pereira received his chance to have a run in the side, boy did he take it. He became the creator in chief of our side, laying on multiple opportunities for Yeboah and Aramu to score. You can see from the radar on the left in the below graphics just how elite his chance creation was for our side, whilst also not being shy in shot creation too (right-hand radar). For reference, the rankings are out of a total of 182 players.

His form saw him pick up the ‘Best Young Football’ award for Serie B. It’s no surprise that when he became available to speak to on a pre-contract agreement, I leapt at the chance, and was delighted that he wanted to extend his time with us beyond his initial loan.

Mattia Aramu

If Pereira was the master creator, Aramu was the master swordsman – an incredible inside forward with an eye for goal. League-leading across Serie B, and just as good if not better than anyone else playing on either side as a wide forward, it will be a shame when his loan with us end. I looked into being able to sign him on a pre-contract, but the wages he demanded would have smashed the existing wage structure. Whilst he is definitely good enough for Serie A, I couldn’t risk financial ruin and meet his £40k+ basic weekly wage.

The below graphics combine Pereira and Aramu’s metrics together into a bar chart, and compare them against the same players across the five leagues. I’ve also added the metrics for Güven Yalçın, who played in the inverted winger role that Pereira made his own following an injury to Yalçın. This gives you some idea of the level that Pereira and Aramu were able to operate at in the same side as Yalçın.

If you wish to see further graphics on the performances of the side, you can click here for the central defenders’ metrics; here for the full backs defensive metrics and here for their attacking metrics (this is well worth a look); and here for the defensive metrics of our central midfielders, here for their creativity and here for their goal-scoring actions.

Finance analysis

With the promotion that came with the form that these players achieved, which yielded the corresponding £2.15m prize money, and some careful cost-cutting, one would be forgiven for thinking that things would see growth for the financial side at Genoa CFC too, but sadly far from it.

Despite the player trading and collecting over £8m in incoming transfer fees, the player sales (those in red) and amortisation charge of this year’s incoming transfers alone led to an annual net loss of £5,626,667 in player trading alone, before the taking into consideration the cost of amortising the remaining book value of the entire team, including those out on loan (purple in colour).

The total amortisation charge for the year is £20.3m, which will go against any potential profits from trading over the year:

Safe to say, there were no booked profits for the financial year 2022-23, of which there is further evidence in the year-end cash flow analysis below:

This graphic highlights the high level of spending on player wages, bonuses and loyalty payments as a proportion of income:

The rate of spending on players being over 80% is uncomfortable and a sign that were we not to have achieved promotion, we would have been in dire straits as a club, but it can’t be taken for granted that life in Serie A is a path paved with gold either. I will need to be careful with our spending, assessing and addressing gaps in the squad, both in terms of numbers and quality, so that we can look to improve sufficiently enough to stay up and not put into trouble with the bank. It will be a tricky tightrope to walk and find that balance between pushing to avoid relegation and also pushing the club too far into the red with a potential that any transfers don’t pay off.


Yet all that, and our first games in Serie A will have to wait until next time. Will Yeboah make the step-up to the big time? Will Henrique Pereira continue to turn provider, or will that fall to some other new, as yet unknown signing? And just who will Genoa CFC bring in to replace the previous RB Leipzig loanee goalkeeper, Josep Martínez?

For that, and more, tune in next time, but until then – arrivederci!

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Football Manager 2023 – Genoa CFC: Mister (1)

Nuovi inizi

Ciao, and welcome back to my first review of my time as Genoa CFC Mister. Below, you’ll read of the nuovi inizi (new beginnings) and how I’ve already begun to assert my way on the club both on and off the field.

Staff and Transfer Dealings

Assessing a new club is never easy. Taking the time to consider your options tactically given the make up of the squad, how that tactic will inform the training schedule, considering the positions and ages of players you want your scouts to be looking for, not to mention the locations you wish to send your scouts to are all lengthy and considered tasks. One thing at Genoa, however, was a simple task – one look at our coaches and I realised quickly what needed to be done – every one of them bar the assistant manager was dismissed. They were well below the standard I wished for to help improve my players on the training field, and certainly not good enough to be offering me advice on the qualities of my playing squad. In came Dennis Bergkamp (Coach), Glynn Snodin (Coach), Grégory Coupet (Goalkeeping Coach), Alberto Andorlini (Fitness Coach), Giorgio Bianchi (Goalkeeping Coach), Massimo Lo Monaco (Coach), and Roberto De Bellis (Fitness Coach), and various other members of the backroom staff to help fill appropriate gaps within our organisational structure.

If evaluating the coaching staff was relatively easy, then assessing an unfamiliar squad that is new to the league it finds itself in, and with low squad morale as a result is considerably harder. With no clear idea as to how good, or otherwise the squad is, there will need to be an initial period of establishing who is right to help this club return to Serie A and who needs to move on. Having said this, I do have the advantage of knowing who some of the players are through their reputation.

Kevin Strootman for example is a fine Dutch footballer – if prone to cruciate ligament injuries. He is with us on loan from Marseille. Yet at £49k/week I questioned whether or not to keep him around given the potential ~£2.3m saving that could be made by cancelling his loan spell. It’s not as if we are short of players for the central midfield berth either. With other options for the same position including Stefan Ilsanker, Abdoulaye Touré, Stefano Sturaro and Milan Badelj, all players I’ve had dealings with in squads in previous teams I’ve managed, there is a need for rebalancing. This list doesn’t even include Manolo Portonova, Pablo Ignacio Galdames and Morten Frendrup who also play in the same central positions.

Taking this into consideration, and with the opportunity to operate within the initial Summer transfer window, I set about putting my stamp on the side and began to look at offloading some players, and bringing in players who I felt we could develop and then sell on for a profit, as per one of the objectives the board have for the club.

Transfers Out

Out went Abdoulaye Touré, who was already transfer listed on my arrival. As were Galdames and Filip Jagiełło, yet another central midfielder, so they both left too, after being deemed not sufficiently skilled enough to operate in my side.

The other big outgoing transfer was that of ex-Juventus player Stefano Sturaro. On very high wages for someone in Serie B, and not being a first-team regular when his squad status was that of an important player, he was as keen to leave as I was for him to go. The £500k we received for him resulted in a booked loss given his remaining book value, but it was worth it to shift his big wages off our books, and to claw back some value on him rather than see him leave on a free and have to entirely write off his remaining accounting value.

Transfers In

Three midfielders having left, including two of my (relatively) younger players in this side, investing some of the received transfer fees back into buying young talent was required. I was keen to ensure that it would be for players we could provide playing time to, and offer them mentoring by the remaining experienced players within the team to help bolster their existing skills and personality.

From the get-go, my scouts were really keen on Aldo Florenzi, a 20-year-old at Cosenza, a rival of ours in Serie B. It’s not hard on first look to see why they would like him. A good price point, a range of technical and physical abilities, with the scope to improve further with the right training, game time and luck. A fee and contract was swiftly agreed, once we’d checked with his agent that he was interested in joining us.

My scouts had also highlighted 20-year-old Tim Breithaupt at Karlsruher SC very early on after I switched our focus away from just Southern Europe to include all of Europe. Whilst far from the finished article, he looks as though he could be highly mouldable into a dependable midfielder who can break up opposition attacks, whilst also being a threat in both boxes given his 6’4″ height. Breithaupt looks to be a similar player to Frendrup, in age and ability, so the two could be starting midfielders for a while to come, or more likely until a bigger club comes calling.

In analysing my squad’s depth, I also recognised how it lacked enough depth at centre back and on both wings. With deep concerns about cash flow over the rest of the season, I was keen not to spend any more cash on transfers, so I took to the loan market.

First in was Henrique Pereira, a tricky inverted winger from Benfica B, who would play a rotational option to Güven Yalçın. His general pace and technical abilities would make him a good understudy should we need him. With his contract up at the end of the year, if he’s successful here, we may well be able to bring him in permanently should we wish to.

Going back onto the loan list, I spotted someone I immediately wanted to act as back up to the central attacking midfielder and on the right wing, Samuele Vignato, who was at Monza. The 18-year-old is younger brother to Emanuele, who is a similarly talented footballer I had managed before, so I had high hopes that Vignato would prove to be an effective, cheap and versatile squad option.

Lastly, to provide cover at centre back, Parma’s 19-year-old, Alessandro Circati, was loaned in to slot into the roster behind Bani, Vogliacco and Drăgușin.

Squad Depth & Accounting Costs

After completing the player trading, the close of the transfer window saw the squad look like this (light blue means on loan with us at Genoa):

In terms of accounting costs, and a reminder there’s a focus on this because of the issues around the finances going forward this season, this sees us have a total accounting cost of £20,667,849 on player amortisation, including an additional £1,391,667 from the players purchased above, and £24,885,900 in expected basic wage expenditure over the course of the season. Net transfer expenditure, taking into consideration the remaining player book values of players sold, was -£2,516,667. A negative net transfer spend is not what we need, but the player sales did clear £3,328,000 a year from the wage costs. A more detailed overview is provided below, with out on loan players in purple and on loan at Genoa in light blue again (click the image for a new window to open and a chance to take a look at the player amortisation and basic wage costs in more detail – in fact, all images in this post are clickable):

It’s worth remembering that the accounting period is not yet over, so hopefully I can recoup more from player sales during the transfer window and resist any acquisitions, whilst also using this to consider who is worthy of retaining at Genoa. With a large number of outward and inward loans, and with more players under contract with Genoa into their final year, it will need careful consideration in the allocation of wage budget remaining as to who is retained/put up for sale/released from their contract.

Tactical adaptations

With the number of defensive midfield players available at the start of preseason, it was clear sense to play with a double pivot in front of the defence. Once this was decided, I then had to choose between 424 and 4231DM. With Florenzi coming in, and Portonova and Aramu who can play in the hole in behind the striker, 4231DM seemed the obvious choice. Kelvin Yeboah showed his potential and his sheer pace in the friendly matches, so he was going to be my starting lone striker. Güven Yalçın and Albert Guðmundsson would be the initial starting choices on either flank, as an inverted winger and winger respectively.

Yet when the season began, it became obvious that this tactic wasn’t insufficiently creative, and not attacking enough – which is relatively obvious given the roles and mentality I had adopted. The xG figures were low, with a combined 3.97 xG across the first four games, and we didn’t look like we were ever going to be in a position to score goals on a regular basis. With one win, two draws and a defeat, we were too passive and too negative in our approach for a team that is odds on favourite to win the league. I had already tweaked the roles and team instructions in these games, but to no avail, so I took the decision to abandon the two deep-lying midfielders and move them up to standard central midfield players. I also made some further tactical adjustments with the team instructions, including moving our approach from ‘balanced’ to ‘positive’. If we are better than our opponents according to the bookmakers, then it was time to start playing like it – adaptation was the way forward to go forward.

The impact was immediate, and poor F.C. Südtirol felt the full force of our new tactical approach, as we galloped to a 4-0 victory. In fact, the next four games resulted in victory, with a significant spike in xG, which rose from an average of 0.99 xG/90 to 1.95 xG/90, and whilst the xgA/90 rose from 0.6 to 0.92, the net xG-xGA rose by 0.65, making it far more likely that we would be claiming the three-point win.

The main contributor to our on-field success in this period was Kelvin Yeboah. His 12 goals against an xG of 11 accounted for 41.38% of our 29 team goals. As you can see from the (clickable) graphic below, he’s far out performed his attacking peers in Serie B when it comes to xG/90 and goals/90, with only two players having a higher goals/90. Whilst not a creative attacker, I haven’t set him up to be, he’s the fulcrum of our attack – the finisher. It’s fair to say we wouldn’t be where we are without him and you’ll notice from the amortisation graphic above that he has been rewarded with a fresh contract at the club after becoming unsettled due to feeling undervalued. Given not a single other pure striker has a goal to their name yet this season, with Coda, Pușcaș and Ekuban all failing to hit the back of the net when deputising for Yeboah, I had no option but to increase his wages and provide him with specific targets which trigger bonuses. With metrics like this, I hope he stays fit, triggers these achievable targets and gains the rewards for doing so because if he does, then it’s likely we’ll be doing well in the league as a result.

It’s also worth including analysis on Breithaupt and Florenzi, as to just how well our season is doing thus far in settling in these youngsters. They’ve benefitted from game time and have been recording high scores from coaches in training, along with the other new signing, Pereira.

Playing in the central midfield role with a defensive mindset, Breithaupt was never likely to have a flurry of goals and assists to his name. However, what is both expected and pleasing in equal measure is his defensive actions in terms of his interceptions, tackles, blocks and even fouls to break up play. What is outstanding though is his progressive passing per 90 – he’s second in Serie A, second only to our left-back Czyborra. His height of 6’4″ means it’s not suprising that he’s winning plenty of headers.

Florenzi, on the other hand, has been playing in behind the Yeboah for most of the season this, so he is expected to have a greater goal involvement. 0.28 npG/90, with an additional 0.28 assists/90 (above his 0.14 xA/90 – giving you some idea how good Yeboah’s finishing has been) mean that he’s been a valuable goal contributor. Making 1.39 key passes/90, and a relatively impressive 2.63 progressive passes/90 given that he’s been part of the leading pack for attacking midfielders.

With the team second in the league at the break, behind an impressive Cagliari team, time will tell if we can sustain our run at immediate return to Serie A. Hopefully the new players continue to adapt to each other and the team in general to try to claw back the lead that Cagliari have establish. It’s been a productive few months in charge, and I hope to continue to bring about more success in forming a greater team ethic, whilst trimming off more of the unwanted players as I settle on a core squad.


That will be left for review the next episode in this series to reveal, where I will look to dive deeper into our player performances and the impact of our team on our finances – both good and bad.

I hope you enjoyed reading the latest update on fortunes on and off the playing field at the Statio Luigi Ferraris – and, until next time, arrivederci!

Football Manager 2023 – Genoa CFC

Coming to decide upon a Football Manager save is typically never an easy process, especially given the amount of teams that are available to manage straight ‘out of the box’. Though, I guess that should really be straight from download these days…. However, for me, this year wasn’t that much of a challenge at all. I had been missing the calcio life I’d had in my AC Milan save back in Football Manager 2020, and so I took a quick look around Serie A and B and soon realised that it was Genoa CFC that was the standout option for me.

Why? Well during the Summer months, I can be found on Saturdays playing cricket for my local team, so the cricketing history of the club appealed to me. Equally, the club was relegated last season to Serie B, so there’s something of a rebuild to be done. It also has an impending financial disaster coming its way – Serie B prize money is only available for those that are promoted to Serie A, and even then it’s only £2.15m. The TV prize money is also similarly meagre. Combine this with still paying some players Serie A-level wages (and Serie A wages towards the top of the league at that), there’s a need to carefully monitor finances throughout this save even if I do achieve a swift promotion back to Serie A. For the record, the media make us 1/10 on, so no pressure there then. The club also have £45.5m of debt to repay, up until 2039, at the rate of £215k/month, some £2.58m/year. There goes that prize money and more for achieving any promotion.

To help me track the financial progress, I’ll be utilising the same Football Manager Finance Spreadsheet (FMFS™), I created and wrote about for Football Manager 2022 (see the below graphic (click the image for an enlarged view)). Fingers crossed, using this to determine whether I should be looking to move players on using their amortisation values based upon their remaining book values against any incoming transfer bids, and spotting those players who are not earning their keep with exorbitant contracts, I’ll be able to first minimalise the damage, and then seek to use it to inform my decision-making over how much I can actually afford to spend, irrespective of the transfer budget I’m given by the club board.

Southampton FC Finances 2027-28

Speaking of the club board, the owners of Genoa CFC are 777 Partners, a US investment firm. This has a strong echo of the reason I chose to take up the aforementioned AC Milan save, who until fairly recently were owned by Elliott Management, before bought by RedBird. 777 Partners, alongside full ownership of Genoa, have a minor stake in Sevilla, have full control over Paris-based Red Star FC (a Championnat National side), Standard Liège in Belgium, and a 70% stake in Vasco de Gama in Brazil. Genoa were the latest club to be added to the ranks, bought in September 2021, but given its relegation last season, it’s fair to say that things hadn’t gone as planned for 777 Partners. I’ll be looking to utilise the connections between the clubs – Standard Liège are already affiliated, with the ability for Genoa’s players to head out on loan there. The other clubs aren’t currently directly linked through affiliation, so I’ll look to agree deals with these teams if at all possible during the ownership of 777 Partners. If 777 Partners leave and there’s a takeover that isn’t a board takeover, I’ll likely look to terminate these agreements. However, being able to agree any more affiliations could be a little tricky as the club already has more than forty affiliates (yes, you did read that right).

The club board also expects a swift return to Serie A, though they only expect promotion rather than winning Serie B. The other board objectives include signing players to sell for a profit, signing young players to develop and sell for a profit, and to work within the wage budget. All excellent objectives. For the fans, they demand high-pressing and defensively solid football. Again, a good fit for my management style, though I may look to dial up the possession a little more given our supposed dominance in Serie B. Having only won four games and scored only twenty-seven goals all season in their relegation year, there will need to be a change in mentality and approach.

The final cherry on the metaphorical cake was that one of Genoa CFC’s managers in their early existence was a fellow North-West Englishman – William Garbutt. He immigrated to Genoa in search of work as a dockworker, after being forced to retire from his playing career due to injury. He brought about revolutionary training schemes, worked on player fitness, and concentrated on tactics, resulting in Genoa transitioning from a semi-amateur side into an all-conquering side, winning three championships in fifteen years. The clincher is that Garbutt is died in Warwick, not too far away from where I live, to not much heraldry. He was the original Mister for the Genoese, the father of football to Italy, and a man who believed that training with the ball was a necessity to improve players, according to the book “Mister: The Men Who Gave the World the Game”, by Rory Smith. I hope to become the latest Mister and join the pantheon of these figures by applying my own style, whilst staying true to past masters, including in modern methods of training.

William Thomas Garbutt, “Mister Pipetta”

I would like to be able to do justice to this history and put the side back into Serie A, before establishing them as a top-ten side. This could be a little different to more recent saves, despite the parallels, thanks in part to the new recruitment model within Football Manager 2023. For the most part, my intention is to set up/adjust the recruitment strategies/foci, and then leave my scouts alone. There’s an expectation to sign players from the lower leagues, which tends not to fit with my model of player acquisitions because, well, they’re normally rubbish. What I expect is the reality here is that they want to continue with the ludicrous number of players that are in the youth teams. Equally, there’s an expectation to sign high profile players – a clash of objectives if ever I heard one. So much for working inside the wage budget.

The additional benefit of choosing Genoa is that my good Football Manager amico, FM Stag, has chosen Sampdoria as his team for his main save. As such, at the end of each in-game year, we’ll be playing our own Derby della Lanterna against one another to build an extra bit of interest into our saves. It’s certainly made me think carefully about how to go about player recruitment and retention. Given the quality in our respective squads, I expect to lose heavily until I am able to make Genoa a force in Serie A. That said, I’ll be giving up some ground to Stag if he’s able to work his magic and achieve European football early on into his save with the financial power that this will unlock. I just hope that Stag doesn’t go the same way that Sampdoria are going in real life.

I trust that you enjoyed this introduction to my return to calcio – and until next time, arrivederci!