As expected, Juventus have announced the appointment of new director Maurizio Arrivabene and an increase in capital worth €400m.
The Bianconeri had already parted company with director of sport Fabio Paratici when his contract expired on June 30.
Now former Ferrari chief Arrivabene joins as director of Area Football, having already been a member of the board of directors.
The statement notes Juve lost circa €320m due to the direct and indirect effects of the pandemic.
They are therefore confirming the strategic objectives for the 2019-24 period in terms of sporting competitiveness and economic sustainability.
In order to support those plans, the board approved an increase in capital to the tune of €400m.
The club also announced that goalkeeper Carlo Pinsoglio’s contract has been extended to June 2023.
Pinsoglio is a strong figure in the locker room and some have seen this as an indication that Cristiano Ronaldo will also remain for another season.
He is known to be good friends with CR7.
The Board of Directors have analysed the impact of the Covid-19 pandemic on the three years 2019/22 and defined the guidelines for a capital increase. Maurizio Arrivabene to oversee the Football Area.
— JuventusFC (@juventusfcen) June 30, 2021