When playing football, you should call it GOAT.

Chapter 85 ROI X
The Italian program "Sports Night".

On set in the studio.

The big screen switched to Federica Fontana, her red lips slightly upturned, her fingers twirling the ends of her hair.

“Dear Roy”

The two had a brief, fleeting affair.

She stroked the headset cord. "The whole of Italy is waiting for your answer. Can you say 'Forza Milan' again?"

The fingernail tapped lightly on the microphone, producing an ambiguous clicking sound.

There was a brief silence on the other end of the phone, and the air in the studio seemed to freeze.

Roy calmly asked, "First of all, do I currently enjoy the right to freedom of speech?"

A few bursts of laughter erupted from the audience, and some people whistled.

Fontana raised an eyebrow: "Of course, darling, it's live."

She gave the camera a meaningful look.

Roy continued, "So, the second question—am I an AC Milan fan?"

In the control room, the producer nervously bit his pencil.

Fontana chuckled: "As far as I know, no."

Roy suddenly raised his voice, with a triumphant provocation: "That's right! Non mollare mai, nerazzurri! A morte con loro!" (Never give up, Nerazzurri! Fight them to the bitter end!)
Just as the studio was about to erupt in cheers, his tone suddenly softened: "I sincerely congratulate Filippo on securing a lifetime contract with Milan. And I promise, until I'm sixty—"

A meaningful pause followed, "He'll definitely be playing alongside me. Or on the other side, it'll be the Milan derby!"

“But for now,” he said calmly, “all I can say is: Allez Monaco!”

After hanging up the phone.

Fontana straightened his messy hair and gave a wry smile to the camera.

He didn't give me the answer I wanted.

She flashed a professional smile.

"But that's Roy for you—always giving you the most dramatic moments."

Stroking the diamond stud earring on her earlobe, she added in a low voice:
"So considerate no matter where you are."

In previous years, July was already a time of intense competition in the transfer market.

This summer, however, Italian football has been hit by a Mediterranean cold snap – the postponement of last year's league due to the financial crisis has dampened the owners' enthusiasm for investment.

Moratti's checkbook has lost its magic. The €2000 million signing of Cannavaro at this time last year is now a thing of the past; facing Romanian defender Chivu, Inter Milan can't even scrape together an equivalent offer. €2300 million in Champions League revenue is a drop in the ocean compared to €9000 million in debt. The "Beckham Plan" has become a joke, and selling players with a buy-back option or player swaps have become the only options.

AC Milan is in a slightly better position, earning nearly €3000 million in the Champions League, which has largely maintained financial balance. Even so, Galliani has proposed salary reductions for high-paid players and adheres to a "better to have none than a bad one" principle in the transfer market. Last summer, the Rossoneri only acquired Nesta at the last minute; a repeat of last year's acquisition is unlikely—the Rossoneri are scrutinizing every transaction under a microscope.

The two teams in the Eternal City are staging a "debt version" of "Roman Holiday".

Roma's €1800 million Champions League prize money is insufficient to cover their €8000 million debt.

The Sensi family gazed at their desired player list, like tourists before the Trevi Fountain—able only to make wishes, unable to afford them.

Lazio's meager UEFA Cup revenue (less than €1000 million) couldn't even resolve their registration crisis. Cragnotti's "45% pay cut" plan has caused an uproar in the dressing room. Just like last summer, Ballardi is doing everything he can to ensure key players aren't poached, but Lopez's departure seems almost inevitable.

Compared to the aforementioned teams, Juventus has enjoyed a resounding success in the transfer market, entering a virtuous cycle. Their €3200 million Champions League revenue, coupled with their long-cultivated shared player program, has allowed them to navigate the transfer market with ease, achieving success through a broad but low-return strategy. Moggi's "broad-based, low-return" policy is proving effective; the Torino clubs are using the precision of an accountant to counter the despair of other top clubs.

7 month 5 day.

Mediterranean sunlight shines through a champagne glass.

Claire pushed open the glass door leading to the pool, and the sea breeze carrying the scent of citrus wafted in—she wasn't wearing her signature business suit today, but rather a relaxed Mediterranean vacation style:

Ivory white linen wide-leg pants, a silk camisole top, a pair of Dior sunglasses hanging loosely at the neckline, and hair that had been styled in a neat low bun but now in a lazy wavy braid.

Claire sank into the sofa, the linen fabric and silk camisole gleaming softly in the morning light.

A stack of documents was casually spread out on the glass coffee table, and the ends of her hair were still damp from the sea mist.

"Look!"

She lightly flicked the edge of the document, and the European Union Patent Office's stamp gleamed in the sunlight. "ROIX is really beautiful."

My fingertips caressed the gold-stamped logo; the "X" deconstructed into geometric lines was actually two crossed scepters.

Roy scratched the tip of his nose, looking a little embarrassed.

Marcelo Gallardo has repeatedly stated that if Roy stays with the team next season, he will give up his number 10 jersey to Roy. Roy has refused righteously and repeatedly declined, and has not yet clearly stated that he will accept.

However, he had already privately arranged for Claire to register her personal trademark.

The main trademark is ROI X, where X is the Roman numeral for 10.

There are countless other variations, and they even went so far as to register various Chinese trademarks in China, which consumed a lot of Claire's team's time and energy.

Otherwise, it might turn into "I have a neighbor named Roy" which would be a bit of a mess.

These four letters represent a blueprint for a personal IP empire that began to be laid out in 2003.

In 2003, while most football players were still relying on club salaries and sporadic sponsorships, Roy was already planning a business empire ahead of its time in his villa in Mallorca – “ROI X”.

This is a full 10 years earlier than Cristiano Ronaldo's registration of the "CR7" trademark in another dimension in 2013, and before Ronaldo's registration, American fitness coach Christopher Renzi had already preemptively registered the trademark in 2009.

Renchi stated that his trademark originated from the initials "CR" of his name and the production date "7," and that Ronaldo's legal team had no way to deal with him.

It predates even the David Beckham (DB) and Victoria Beckham (VB) brands established by David and Victoria Beckham by a considerable margin, while Messi's M10 was only registered in 2019.

In 2003, the commercial development of football players was extremely rudimentary.

The revenue structure is singular, with 90% relying on club salaries plus a small amount of sponsorship, such as shoe and beverage advertisements.

Personal brands are virtually nonexistent; player images belong to clubs or sponsors, and individuals cannot monetize them independently.

There is a weak awareness of trademarks. Apart from superstars like Zidane and Ronaldo, very few people register personal trademarks, and even then, it's usually just to prevent others from misusing them.

Roy's "ROI X" needs to break all of that – he's not just a player, but also a commercial IP.

At the trademark registration level, we are basically focusing on full-class defense in the EU, the US, China, Japan, and South Korea, and we can't worry about other areas for the time being.

The brand matrix consists of a main brand, "ROI X," which includes numerous sub-brands.

The offshore structure aims to further optimize taxation by holding trademarks through a company registered in the Cayman Islands.

Traditional players' commercial value is tied to their clubs (such as Manchester United's number 7 and Real Madrid's number 7), while their personal brand exists independently of the team. Even if they transfer, the brand value still belongs to them.

In 2003, before the rise of social media, there was very little competition for personal IP, allowing him to monopolize a large number of high-quality trademarks at low cost.

While Cristiano Ronaldo was still wearing the number 28 jersey at Sporting Lisbon, Roy had already built a blueprint for a business empire that transcended football with "ROI X".

His pioneering spirit lies not only in his early start, but also in redefining the commercial landscape of athletes. Whether it's Ronaldo, Messi, Mbappe, or Haaland, they will all need to follow the path that Roy paved in 2003.

On July 7, Henry married his British model girlfriend Nicole Meryl at an English castle, with more than 200 guests in attendance.

Henry rented Heckler & Co. Castle in Berkshire, west of London, specifically for the wedding.

Arsenal chairman Peter Hillwood gave a speech at the wedding, perhaps because of the Russians' recent notorious reputation in the football world, which is known from Ireland to the Khitan.

Russian oligarch Roman Abramovich, through his agent Eran Zahavi, declared: "I want Chelsea to surpass Manchester United and Real Madrid and become the king of Europe."

Club spokesman Mann confirmed: "He's a ruthless guy who always keeps his word."

This caused an earthquake in the transfer market, with a record £3500 million bid for Nesta, a £3000 million offer for Everton's 17-year-old star Rooney, and inquiries about Real Madrid stars through Zahavi's network, triggering panic among Real Madrid's president, who is known for his extravagant spending on players from other clubs.

His attitude of treating football as a "hobby rather than an investment" completely broke with tradition, and agents from all over Europe flocked to London, desperately trying to promote their players, creating a frenzy akin to a "gold rush".

Chelsea's single-window transfer budget was almost equivalent to the total of the seven listed Serie A teams, directly raising the psychological price of all star players, to the point that it made it less smooth for almost all top teams to make signings and renew contracts.

This, of course, includes Henry, whose offer has reportedly jumped from 3000 million to 5000 million.

Peter Hillwood reiterated Henry's importance to Arsenal at his wedding.

“I’m not willing to sell Henry for any price,” the chairman said. “It’s just money, isn’t it? We’re building an Arsenal team, not destroying it. We can’t let anyone replace Henry because he’s irreplaceable. So there’s no point in trading him for money, no matter how attractive the price may be.”

"Henry is not a commodity; he is the embodiment of the Arsenal's soul. We are building a football temple, not a pawnshop!"

"Chelsea can buy the entire transfer market, but they can never buy away the tradition of Highbury."

"Even if they turn the Thames into the ruble, they won't be able to take our king away from North London!"

"Do you know why we're building our new stadium in Islington? Because there, tradition will never outweigh money."

Wenger's fingers suddenly tightened, the champagne glass making a soft crunch in his palm. His lips tightened into a straight line, his Adam's apple bobbing as if he had swallowed something bitter.

The construction costs of the Emirates Stadium continued to rise, resulting in a loss of £4200 million in the club's financial report for the second half of last year, ranking third on the Premier League's list of losses.

Wenger was told he had a £1000 million transfer budget this summer, but the funds have not yet arrived, severely hindering his transfer activities.

Kewell's move to Liverpool was a public humiliation for the Gunners.

The delayed arrival of transfer funds has severely weakened the team's competitiveness in the transfer market.

Vieira is ambiguous about the new contract with a weekly wage of £7 and has been reluctant to sign it.

Pires' frequent contact with other top clubs has increased the risk of him leaving the team.

Veteran player Dennis Bergkamp directly rejected the club's "humiliating" contract extension offer.

Kanu publicly criticized the deteriorating political atmosphere within the club.

Henry was unhappy with his new contract's weekly wage.

Bergkamp may be forced to return to Ajax.

The atmosphere in the locker room continued to deteriorate, with veterans generally feeling neglected.

At Thursday's board meeting, Wenger was asked to drastically cut the team's spending:
The charter privileges have been cancelled, and the Boeing 767, which costs £7.5 per trip, will no longer be used. Instead, smaller planes will be used, and players will lose their standard bed and berth accommodations during flights.

The accommodation standards have been lowered, and the five-star hotel benefits costing $250 per night have been eliminated.

Strict control over transportation reimbursements has led to Arsenal players now having to pay for their own taxi rides when they need to go to the hospital for medical checkups due to injury, before they can get reimbursed by the club, sparking discontent in the dressing room.

It's hard to imagine that this is the team that will be undefeated next season.

As Roy approached the newlyweds with a glass of champagne, Nicole Meryl giggled as Henry knelt down to adjust her crystal shoe buckles.

Roy raised his glass and chuckled: "A toast to Mr. Seventy Million. Chairman Hillwood's arithmetic lessons are truly remarkable. Not for 3000 million, not for 5000 million, not for 7000 million!"

Henry was very pleased today: "He missed a point."

He leaned down and whispered in the bride's ear in English, and Nicole suddenly burst out laughing.

Roy: "Oh?"

Henry put his arm around his wife's waist, looking somewhat smug: "The exact words were, 'Unless that madman Abu drowns Highbury in rubles.'"

Roy smiled; he hadn't been sure if Abramovich had offered 7000 million.
Now it's confirmed.

Monaco, July 7, 2003, the office of the president of the Stade Louis II.

Campora's fingers tapped unconsciously on the edge of the contract, the metal cap of her pen reflecting the blinding Mediterranean sunlight, casting a shimmering spot of light on the paper.

He stared at the contract numbered ASM-2003-0012, at the printed text of Article 3, Clause 6:
[Portrait Rights: Party B (Roy) retains 100% ownership, including but not limited to commercial endorsements, digital media, game characters, and derivative product development. Party A (Casino Monaco) only obtains the right to use live event footage.]

This line of text is not a simple change of clauses, but rather a razor-slicing severance of the old order in football history.

This is a sharp sword that cuts through chains, severing the "club is the owner" system that has lasted for a century in football history.

At this moment, players are no longer assets to be sold, but independent individuals who truly control their own commercial destiny.

Sunlight streamed through the blinds, casting dappled shadows on the words, as if history were being re-typeset at this moment. The club lawyer's fingers trembled unconsciously; he realized he was witnessing an epic contract comparable to the Boseman Act.

This time, however, the players are not fighting for the freedom to transfer, but for the more fundamental right to their personal ownership.

The contract lay quietly on the oak desk, yet it felt incredibly heavy.

This is not an employment agreement, but a declaration of independence, something that has never happened before in the history of football.

Campora knew he was signing a devil's contract—Roy's weekly wage (40,000 euros) was only at the top level in Ligue 1, but Monaco's tax exemption policy allowed him to pocket the full amount. However, 100% image rights meant:

In the Puma and Monaco jersey sponsorship deal, Roy's personal image usage fee is charged separately.

In theory, any close-up shots of him during Champions League broadcasts should be subject to copyright fees.

Even if France Football magazine wants to use a photo of him holding a trophy on its cover, it has to go through the portrait rights authorization process.

But Campora had no choice. His eyes glanced at the desk drawer—where lay the key to a Monte Carlo sea-view apartment, worth €450 million, with Roy's name already on the title deed.

This is a treasured property in his real estate company, overlooking the hairpin bend of the F1 Grand Prix.

"Crown Prince Albert will not be aware of the transfer of this property."

he thought.

This illicit gift was more lethal than the figures in the contract, but compared to the capital strangulation that Russian Rybonovlev was brewing, it was nothing more than a tip.

The Monaco royal family injected funds through "Monaco Sports Investment Company" to balance the books, but what Albert II really wanted was to purge the old guard and turn the club into his "Mediterranean toy".

Russian oligarch Rybonovlev's €3000 million investment was merely a stepping stone. His real aim was to launder money through sports investments and ultimately acquire Premier League clubs. Therefore, he only sought to gain partial ownership of clubs through non-controlling channels.

Campora, on the other hand, is fighting a desperate battle. He needs Roy's contract extension to create a paper boom and buy time to bring in Middle Eastern capital to hedge against the Russians.

"If he can lead us to the Champions League quarterfinals next year..."

Campora pondered.

According to Article 4, Paragraph 3 of the contract, the prize money will increase with each round of Champions League qualification, but more importantly, Roy's release clause will start at 40 million euros and increase by 10% every year.

this means:

In the summer transfer window of 2004, any buyer would have to pay at least 4400 million euros (which was exactly equal to Monaco's total debt at the time).
In the summer transfer window of 2005, the €4840 million release clause would eliminate all buyers except for a few top clubs, who were unlikely to allow such image rights clauses, especially Real Madrid.

Camporamo furrowed his brow as he examined the edge of the contract.

This document contains a mystery that he has never been able to understand: why is Roy so insistent on 100% portrait rights?

"What exactly is this kid up to?" he muttered to himself.

In a small club like Monaco, image rights revenue is at most a few hundred thousand euros.

Instead of arguing about this, it would be more practical to ask for an extra ten thousand dollars a week or a million or two in signing bonus.

Campora was even prepared to continue negotiating the signing fee, as he still had room to concede if Roy spoke up.

What puzzled him even more was the prospect of a transfer.

Real Madrid? Florentino, that shrewd builder, would be the first to disagree.

Manchester United? Would that old fox Ferguson allow such a thing? Beckham was just kicked out for too many commercial activities.

That famous number seven jersey is still empty.

Sir Alex Ferguson's declaration, "Here, Manchester United will always be number one," is still fresh in our minds.

Campora could almost picture the Scotsman's furious reaction: "What? 100% portrait rights? Let that French kid dream on!"

Which top European club would tolerate a player controlling all of their commercial value?
Campora's gaze shifted from the contract to the brand-new number 10 jersey in the corner of the office—the gold-stamped "ROI" letters gleamed dazzlingly in the sunlight, and the Puma logo below the number was so small as to be almost negligible.

Suddenly, an absurd thought flashed through my mind—could this kid be thinking of...?
He shook his head and laughed self-deprecatingly.

How can it be?

This is how the football world has operated for a century.

Players are the club's assets; image rights are merely an accessory.

Could this eighteen-year-old kid possibly overturn the rules of the entire industry?

Campora picked up her pen and signed her name on the contract.

As the ink spread, he inexplicably recalled what the American venture capitalist had said last week: "In the next ten years, the value of personal brands will surpass that of some club brands."

That's just Wall Street madness.

The pen clicked shut.

Who cares? Anyway, next summer some big clubs will come with checks to terminate the contract.

As for those strange terms and conditions? Let the next party deal with them.

I didn't sleep well last night, so I'm a bit too tired to code. I'll get a good night's sleep and start coding again tomorrow.

The season will begin after the next chapter.

The contract details are on the free page on the next page; you can take a look.

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(End of this chapter)