Juventus announce loss of almost €210m, insist Super League project is ‘legitimate’

by | Sep 17, 2021 14:58

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As of today, Juventus, Real Madrid and Barcelona are the only clubs not to have withdrawn from the competition and are also out from ECA.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.”

Andrea Agnelli

10 Comments

  1. Francis

    When they sign players and place them on huge salaries,why won’t they lose money?soon they’ll be in a mess like Barcelona

  2. Vero Rossonero

    Juventus is a disaster right now. Agnelli is the problem. The investments over the last 5 years have been catastrophic. $99mm for Higuain, who basically played two seasons and then for some reason was basically discarded. They paid $128mm for Ronaldo and paid him $30mm per year, and while Ronaldo performed, the club simply couldn’t afford him. And because of this they couldn’t bring in any other champions to help Ronaldo. Even the $94.5mm spent on de Ligt is questionable at the moment, as he is not even close to van Dijk, who also cost about the same. $44mm for Bernardeschi who has never been a real starter and has arguably underperformed since he arrived. $27.5mm for Blaise Matuidi, a failure. $80mm for ARTHUR??? Massive fail. $38.5mm for Kulusevski to sit on the bench. Then the high priced free agent fiascos like Khedira, Ramsey, and Can. Romero, bought for $28.5mm and then sold to Atalanta for $17.6mm only to seem them make a huge profit when they flipped him to Tottenham. Paying 35mm for Kean, a player who came up through the youth system and then was sold and bought back. There are others. The bottom line is that they need to shake up their management and get real, not create some BS league that will further destroy football only for a short term relief. Don’t they think clubs will request higher fees and footballers higher salaries when a “Super League” club comes knocking at the door? Soon fees and salaries will be so inflated that the supposed influx of cash will be nullified and they’ll be back to square one, but with irreparable damage done to the sport.

  3. Basta Poco

    Holy crud! This number is much higher than was reported several weeks ago, unless I’m mistaken. And again with this Super League pipe dream…@Vero Rossonero is spot on, they’ll need to borrow and become indebted just to stay middle of the pack with the more financially well off clubs. This shows complete fiduciary irresponsibility!

  4. Tony

    Ronaldo performed, Higuain did not! I think people should start giving Higuain the respect he deserves! The club discarded him the moment they realized they could sign Ronaldo. Keep in mind that he was the MVP for the club for the just ended season. We can only blame management for messing up the player’s motivation by shipping him out unnecessarily.

  5. Peter Ricci

    Well said Vero Rossonero!!

  6. Vero Rossonero

    @Tony, not sure if you meant to imply I was saying that Higuain didn’t perform. I think he very much did. Which is precisely why I cited him. They paid nearly 100mm for a player, used him for two years and then basically let his contract run down while loaning him out. Poor return on investment both on the pitch and the market. And then, yes, they paid a huge amount for Ronaldo to “replace” Higuain, when they should have spent half as much to increase the quality elsewhere, such as in the midfield to help Higuain out. Nevermind the fact that the entire time they were juggling these two 100mm signing you have Dybala basically benched, his injuries notwithstanding. It’s just insanity.

  7. Villarusso

    Only Juve, Inter, and Milan, and maybe Alitalia, can get away with running a business like they do. Arithmetic is simple. Spend more than you make… broke. I have no sympathy for Agneli, or Zhan, crying for players to take pay cuts. Where is FIFA financial fair play in all of this? Lazio and Napoli can run a competitive team with a balanced budget.

  8. Joe Bretti

    Higuain was discarded after 2 seasons as he was past his best and could no longer perform at the required level. I never rated him…he could score yes but he was never a game changer on the big occasion. Flopped always against the big clubs.

  9. tony

    This clown does not realize that even if they wanted to form this super league they will finish bottom of the table and really become the Arsenal of that competition. They should focus more on trying to move the ball out neutral and try to move more than 5 mph with their zombie sleep, static, backwards and sideways football. Liverpool absolutely annihilated Milan in terms of play. It was intense from start to finish. Juve is slow and slower typical Italian 1980’s trying to win 1-0. Mancini realized that actually giving youngsters a real chance and changing mentally is the correct method in todays game. Juve cannot beat Udinese and Empoli at home will only get worse if they face Bayern and Man City. They might be the biggest team in Italy but in terms of Europe they are a joke. Lost 7 out of 9 European finals.

  10. Stefan

    Higuain vas a very good.

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