"Aurelio De Laurentiis will know better than anyone that the greatest of plots can sometimes have an unhappy ending.
A film producer by trade, the Napoli president has played the lead role in a real life fairytale in the 10 years that have passed since he saved the club from bankruptcy back in 2004.
But, so quickly do the winds of change sweep over football’s political landscape, the 65-year-old now finds himself cast as the villain of the Naples piece.
Last summer, the ‘Italian Sheikh’ (as he has been christened by the local press), could do no wrong after overseeing an €88.15m overhaul of the club’s playing squad following the appointment of Rafa Benitez as first team coach.
A year on, though, and the picture is a bleak one.
The grand summer investment of 12 months ago was designed to guarantee Champions League qualification and the vast riches that come with European football.
Benitez stuck to his side of the bargain, in part, with a third place finish clinching a spot in the third qualifying round of the competition.
Their path to the group stage ought to have been nothing more than a formality, but a cruel draw against Athletic Bilbao saw Napoli drop into the Europa League after a 4-2 aggregate defeat to the Spaniards.
The impact of that loss could hardly have been greater. The lavish spending of last summer has been replaced by frugality and caution, while just 6500 supporters – the lowest number in Serie A this term – have purchased season tickets.
That fans have voted so tellingly with their feet would seem an over-reaction given the club’s incredible journey over the last decade, with the Partenopei faithful angered by the failure to sign at least one of several long-linked targets in Javier Mascherano, Marouane Fellaini and Sandro.
The harsh reality, though, is that there is little De Laurentiis can do as he bids to tighten the purse strings and keep finances in line with Financial Fair Play.
Based on figures published by Deloitte, Napoli’s revenue during their last Champions League campaign in 2011/12 came in at €148.4 million and a similar sum was projected had they participated in the competition this term.
However, their absence from the tournament means that number will drop to a figure in the region of €115 million – and possibly even less given the drop in season ticket sales – leaving little room for manoeuvre as a result of their expenditure over the next 12 months.
The cost of wages, revealed in an annual report in Gazzetta dello Sport on Monday, will reach €71m (excluding bonuses), while the addition of transfer fees takes that figure up to €124.55m – meaning Napoli are set to record a significant loss.
The club have ultimately paid for their summer excess of 2013. The San Paolo side operate using an accelerated amortisation system, whereby transfer fees are spread out on their balance sheet over the period of a player’s contract.
Using the example of a five-year contract, the rate of payment would be 40%, 30%, 20%, 7%, 3% - a method that will see another large portion of their spending of a year ago accounted for this season. They simply had to qualify for the Champions League this term and failed to do so.
So, as the murmurings of discontent continue to eke out of San Paolo, just where does that leave the De Laurentiis project?
Reports in Italy claim the movie mogul recently met with an Italian film director representing a wealthy group of American-Italian businessmen originating from Naples.
De Laurentiis is believed to have sounded them out regarding a possible sale, which could also explain several other sub-plots that have played out over the summer months, with talks of a contract extension for Benitez and plans for a San Paolo renovation put on hold.
It’s possible that the Partenopei chief has seen the financial iceberg looming in the distance and decided he has taken the club as far as he can.
Should Napoli again miss out on Champions League football this season then they will effectively find themselves back at square one.
An already disgruntled Gonzalo Higuain would surely seek pastures new, while economic shortcomings could force them to cash in as they bid to cut costs and rebuild, just as in the case of Edinson Cavani’s sale to Paris Saint-Germain.
De Laurentiis remains very much the master of his own destiny at Napoli, but quite whether events on the pitch will enable him to pen a happy ending to his Napoli tale remains to be seen."