Juventus have posted a loss of €39.9m for the 2018-19 budget but aim to raise €300m through an increase in share capital.

Juve’s shareholders approved the budget and increase in share capital at their annual meeting on Thursday, with President Andrea Agnelli reiterating his confidence in the club’s operations.

Juventus have posted a loss of €39.9m for the 2018-19 budget but aim to raise €300m through an increase in share capital.

Juve’s shareholders approved the budget and increase in share capital at their annual meeting on Thursday, with President Andrea Agnelli reiterating his confidence in the club’s operations.

“Its main objectives are sports competitiveness, the increase in the Juventus brand and the consolidation of the economic balance,” Agnelli explained to his fellow stakeholders, reports the Bianconeri’s official Twitter account.

“I am pleased to underline how the managers of the three areas on which our model is based have grown here, at Juventus.

“We have gone from a capitalisation of €162m to almost a €1.5bn, a more than satisfactory path.

“We avoid giving forecasts, but we can say that the plan must lead Juventus to further enhancement.

“The new forms of entertainment in a perspective of 5-10 years can change the current landscape of rights.

“The main topic that FIFA should focus on is the international calendar. The new competitions must be introduced after an overall analysis.

“The transfer market has grown a lot for all European teams. We have all responded today because we are a team that manages responsibilities with precise and defined tasks.”

The capital increase must be completed by September 30, 2020 – which marks the end of the 19-20 financial year.

Earlier today, it was also announced Jeep had agreed to significantly increase the amount it sponsored the Old Lady to €42m a year.

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