Following recent financial losses, Juventus is looking for investors for up to 200 million euros.

1 minute, 39 seconds Read

  • The Agnelli family will support capital growth
  • Co reported 124 million euros lost between FY 2022 and 2023.
  • has accumulated losses over 700 million euros over the past six years.

Reuters reports that Juventus( JUVE ) will be in Milan on October 6. The Italian soccer team announced on Friday that it would request up to 200 million euros($ 212 million ) in new capital from shareholders after reporting another loss for the previous fiscal year.

According to parent company Exor( EXOR ), the Agnelli family has owned the Serie A team for a century. The capital increase would be supported by AS.

In two separate operations over the past four years, Juventus has already raised about 700 million euros from its shareholders. Exor, the Agnelli family’s investment division, covered about two thirds of these cash calls.

As part of the new capital increase, Exor, which has a 64 % stake in Juventus, will invest up to 128 million euros in the team, according to the Turin-based team.

THE RED

Due to the negative effects of being left out of this season’s lucrative European competitions, Juventus announced on Friday that it would suffer another loss in the current fiscal year.

Juventus suffered a combined loss of 124 million euros in the six-year period leading up to June 30, 2023, bringing its total losses to over 700 million. In 2016 – 2017, it last reported a net profit.

However, the most recent loss was roughly half of the previous fiscal year’s record deficit of about 240 million euros. The COVID-19 pandemic’s waning effects contributed to the outcome, according to Juventus.

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The most prosperous club in Italy has experienced recent upheaval.

It was subjected to a 10 point deduction in the previous Serie A season, an fine of 718,000 euros, and an exemption from this year’s European competitions after being hit by an accounting scandal involving player trading and salary payments.

Juventus has asserted that its accounting complies with industry standards and denied any wrongdoing.

On November 23, the company called a shareholder meeting to discuss the results. ($ 1 x 0.9454 euros )

The Thomson Reuters Trust Principles serve as our standards.

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