Juventus Turin Reduces Losses by 115.6 Million Euros in Historic Turnaround: A Closer Look at the Club’s Financial Progress and Future Plans

2023-10-06 20:30:00

Juventus Turin reduced its losses to 123.7 million euros during the 2022-23 financial year, ending at the end of June, a reduction of 115.6 million euros compared to 2021-22, the club announced on Friday. most successful club in Italian football. This reduction in losses, described as “significant” by Juve in its press release – they amounted to -239.3 million euros in 2021-22, a record in the history of the club – was made possible by the reduction in operational costs, in particular thanks to the departures of high-paid players.

A new capital increase to come

Juve continued the movement in the offseason with the departures of Angel Di Maria, Leandro Paredes, Juan Cuadrado and Leonardo Bonucci. However, as it does not participate in any European competition due to its double sanction, by the Italian sports authorities for accounting fraud and by UEFA for non-compliance with financial fair play, its revenues will decline in 2023-24.

Also, the Piedmontese club announced that it would carry out a new capital increase of around 200 million euros, the third since 2019. The majority shareholder, Exor, investment company of the Agnelli family, will contribute to the tune of 128 million euros. Juventus Turin is 4th, four points behind leader Inter, before the derby once morest Torino on Saturday for the 8th day of the Italian championship.

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