Juventus announce a loss of €209.9m for 2020-21 and insist the Super League project is ‘legitimate.’
The club’s board has approved the draft financial statement for 2020-21, which will be submitted for approval to the Shareholders’ Meeting called for October 29.
“The Board of Directors approved the consolidated financial statements for the financial year ended June 30, 2021, which show a loss of € 209.9 million that will be covered by the share premium reserve,” Juventus’ official statement reads.
In their draft financial statement, the Serie A giants list the most significant events and the financial highlights from the last season.
“The transactions finalised in 2020/2021 Transfer Campaign, which was held from September 1 to October 5, 2020, and from January 4 to February 1, 2021, led to a total increase in invested capital of € 120.6 million resulting from acquisitions and increases for € 121.6 million and disposals for € 1.0 million (net book value of disposed rights),” the club revealed.
“Net expenses deriving from temporary transfers came to € 9.4 million. The net capital gains generated by the disposals came to € 30.5 million. The total net financial commitment of € 88.7 million is spread over four years, and includes auxiliary expenses as well as financial income and expenses implicit in deferred receipts and payments.”
Juventus also mention the Super League project, which was launched by the Old Lady and 11 elite European clubs in April.
However, it collapsed within 48 hours, first with Premier League clubs and then with Inter, Milan and Atletico Madrid withdrawing from the competition.
As of today, Juventus, Real Madrid and Barcelona are the only clubs not to have withdrawn from the competition and are also out from ECA.
“On April 19, 2021, Juventus announced the execution of an agreement with other 11 top European clubs for the creation of the Super League, a new European football competition, alternative to the UEFA competitions but not to national leagues and cups,” the statement read.
“The competition would be organised and managed by the ESLC (European Super League Company S.L.), of which each Founding Club is a shareholder with the same stake and rights, so that the whole Super League project is owned exclusively by the clubs and not by third parties, thus creating an overlap between those bearing the business risk and those managing the television and radio rights related to the sporting competitions.
“As at today, it is not possible to predict with certainty the outcome and future development of the Super League project, of the legitimacy of which Juventus remains confident.”
This past August, Juventus’ board approved a capital increase of up to €400m and the club have now released an update about the matter.
“Following the meeting of the Board of Directors held on August 25, 2021, which approved the proposed Capital increase against payment up to a maximum amount of € 400 million, including any share premium, and the call of the Shareholders’ Meeting, it should be noted that the Board of Directors approved also the report on the Capital Increase pursuant to Art. 125-ter of Italian Legislative Decree No. 58/1998, which will be made available to the public within the terms of the law and regulations at the Company’s registered office, on the Company’s website (www.juventus.com) and at the authorised storage mechanism www.1info.it.”