Football

Juventus to register staggering financial losses in past campaign

Juventus

Juventus will have record losses in the 2020-2021 season. The club will officially release the balance sheets in mid-September. Exor, the holding of the Agnelli family that owns 63.8 per cent of the team, announced the figures for the first six months of the year yesterday.

According to Calcio e Finanza, Juventus were in the red for €77M in such period. They had lost €113.7M from July to December 2020. The final amount will be over €190M. The numbers do not factor in Cristiano Ronaldo and Cristian Romero’s deals yet. The two departures had a negative impact for over €20M combined. It will be by far the worst result in the history of the outfit.

Juventus closed the books for the 2019-2020 campaign down by €90M. The last time they were in the black was in 2016-2017, although the previous negative sums were not as high. On top of the pandemic, the Bianconeri paid the price for exiting early from the Champions League. Exor, alongside a few banks, have initiated a €400M capital increase that will be finalized soon. €75M of it have been included in the current session.

The dire financial state explains why Juventus operated cautiously in the recent window. They postponed the investments to the next few years. They agreed to €35M+ fees for Manuel Locatelli and Moise Kean, but they will pay them in 2023. The numbers are widely expected to improve in the 2021-2022 season. Fans have returned to the Stadium, at least partially. Moreover, the payroll decreased drastically without Ronaldo’s €60M gross salary.

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