Sporting Kansas City announced that Gianluca Busio has been transferred to Venezia FC in Serie A. The move is pending a physical and personal terms. The movie is a club record transfer for Sporting KC.
It has been expected the 19-year-old Busio would leave at some point and it was only a matter of time. After being linked to a number of big clubs, the deal was made with recently promoted Venezia where it is likely he will be given every opportunity to play and prove himself in Italy’s top division.
“Gianluca has embodied all of the core values we look for in a player,” Sporting Kansas City Manager and Sporting Director Peter Vermes said via press release. “He has consistently put the team first while demonstrating tremendous professionalism and an unwavering commitment to improving his game and helping the club win. Gianluca is a special talent with outstanding character, and we wish him nothing but the best at Venezia.”
“This is a very proud moment for me and my family,” Busio said. “I’d like to thank everyone who has made it possible, especially all the people at Sporting KC who have helped me become the player and person I am today. Sporting will always have a special place in my heart and I’m grateful to have started my career at such an amazing club. The people, the fans, the city — everything about Kansas City was perfect and it will always feel like home. This is the next step in my career and I’m really excited to join Venezia.”
Sporting KC did not disclose details of the transfer, but other reporting and sources indicates that Sporting KC is receiving $6.5 million upfront and a potential of another $4 million in “easily achievable” bonuses.
It sounds like Sporting KC will also retain a 20 percent sell-on, and other incentives could drive the fee even higher, according to Paul Tenorio.
#SportingKC will get $6.5 million up front, per a source with knowledge of the deal, with another $4 million in “easily achievable” bonuses. SKC also keeps a 20% sell-on and there are other incentives that could drive the fee even higher. https://t.co/aDUtjkqfmp— Paul Tenorio (@PaulTenorio) August 5, 2021
Busio came to Sporting KC from Greensboro, North Carolina in 2016 and then signed a Homegrown Player contract at just 15 in August 2017. The talented player made his first appearance at 16 in July 2018 and became the second youngest player in MLS history to notch an assist (Aug. 4, 2018) and score a goal (Oct. 17, 2018) in his first full season.
Busio will join fellow American and US. National Team player Tanner Tessmann in Venezia midfield. Tessman is also just 19-years-old.
The Transfer Fee
Sporting KC can use “up to $1,050,000 of the transfer/loan revenue as General Allocation Money (GAM)”. The GAM received can be used in a variety of ways but essentially can be used to “buy-down” a player’s Salary Budget Charge as part of managing a club’s roster, including buying down a Salary Budget Charge below the MLS maximum. The rest of the cash will be distributed to the team.
Transfer and Loan Fees
The revenue share from transfers or loans for clubs is as follows:
A club shall receive 95% of the corresponding transfer or loan fee revenue from any transaction involving a player that is NOT a Homegrown Player or a U22 Initiative Slot Player.
If a Designated Player is transferred or loaned, the club will receive all amounts of the transfer or loan fee revenue until it has recouped all out-of-pocket cash payments made by the club in connection to that player prior to any sharing arrangement with the League. After such recoup, the club’s share of the revenue may be used to fund a club’s discretionary spend (e.g. player development costs, TAM Players, Designated Players, U22 Initiative Slot Player) or may be taken as cash and may not be taken as allocation.
A club shall receive 100% of the corresponding transfer or loan fee revenue from any transaction involving a Homegrown Player or a U22 Initiative Slot Player.
Usage of Revenue
The club’s share of transfer or loan fee revenue may only be used as follows:
The club may assign up to $1,050,000 of the transfer/loan revenue as General Allocation Money. In the case of Designated Players, transfer/loan revenue may not be assigned as General Allocation Money. In the case of U22 Initiative Slot players, please refer to the section on U22 Initiative Roster Slots.
The remaining balance of the club’s share (if any), and which cannot be traded, will be distributed by the League to the Club as cash.