Juventus have revealed their financial results and like the vast majority of European clubs they are bad. Cristiano Ronaldo can’t do it all.
Juventus Turin on Thursday announced a loss of more than 110 million euros in the first half of its 2020/21 fiscal year, up sharply from the same period the previous season, largely due to the coronavirus pandemic . This deficit of 113.7 million euros is more than double that recorded in the first half of the 2019/2020 period (50.3 million EUR), according to the press release of the reigning nine-time Italian champion.
« During the first half of the year, the extension of the pandemic had a negative impact on revenues of around 50 million euros », Indicates Juventus, recalling that the measures put in place to fight against the pandemic have in particular effects on the ticket office (matches behind closed doors). The club announced in the fall losses of 89.7 million euros for the entire 2019/2020 financial year, ended June 30. Juve again plan to finish in the red the current season, without going into the extent of this expected deficit due to the ” great uncertainty »Linked to the health situation. However, the club specifies that it is not suffering from a liquidity crisis and that its activity was not threatened, even if Juventus will probably not be Italian champions this year despite the services of Cristiano Ronaldo.
Juventus boss Andrea Agnelli, also president of the European Club Union (ECA), estimated at the end of January that the health crisis could cut from 6.5 to 8.5 billion euros the revenues of European football clubs. This range represents a clear re-evaluation compared to the study carried out in the summer of 2020 by the ECA, which counted on 4 billion euros of cumulative shortfall over two seasons.
Writing with AFP