Juventus have released their financial statements for the first half of the 2022-23 financial year, posting losses of €29.5m, a significant improvement on the accounts for the same period of time last year.
For the first portion of the 2021-22 calendar year, Juve had reported losses of €112.1m largely due to the effects of the coronavirus pandemic and subsequently having to play their games behind closed doors.
This year’s losses signifies an improvement of well over €80m compared to this time last year.
The Bianconeri explained in their report that the improvement of their financial situation over the last 12 months can be credited to higher revenues across the board, particularly in the increase in the management of players’ rights and the lowering of costs attributed to player contracts and bonuses.
A full list of Juve’s financial expenditures is available via Gazzetta dello Sport.
However, Juve are currently in debt by a net figure of €330m, which has more than doubled over the course of the season from the €153m sum that was recorded in June, 2022.
Juventus have insisted that the increase of the club’s net debts have little to do with the current management structure and can largely be attributed to the excessive spending of years gone by, with Juve having to pay €67m in outstanding transfer bonuses over the last year.
Though things are likely to change before the end of the financial year, it is expected that Juve’s current debts will remain in the same region by the end of 2022-23.