Juventus have set clear targets in the Champions League as they look to combat their debts with a €200m capital increase.
Page nine of today’s Gazzetta dello Sport details how the Bianconeri have suffered a painful financial impact from their failure to compete in European competitions this term, with sponsors like Jeep (from €45m to €38m) and Adidas (from €52m to €46m) paying less.
Juventus holding company Exor have decided to bring forward a €200m capital increase, their third recapitalization in the space of four years for a total of €900m. €127m of this sum has already been paid in advance by Exor, and there is a 31.87% discount on new shares.
The Old Lady want to shore up their financial position after the difficulties of the last few years and their business plan envisages an immediate return to the Champions League, with the goal being to reach the Round of 16 of the competition for the next three years.
Juventus’ financial forecast for the year ending June 30 2024 expects higher losses than last year, predicting a deficit of €150m to €200m. Last year’s balance sheets were closed with a negative of €124m.