Bleeding out: Juve to seek new money after posting record losses of €210m

September 20 – Juventus have recorded a mammoth loss of €209.9 million for the 2020/21 season, but still remain convinced of a future European Super League as the solution to the club’s deep financial problems. 

The pandemic has ravaged the Turin-based club, whose losses of nearly €210 million represents the biggest annual financial loss in the history of Serie A, eclipsing AC Milan’s €206 million in the 2006/07 season.

“The 2020-21 financial year ends with a consolidated loss of €209.9 million ($246.2 million), compared with a loss of €89.7 million ($105.2 million) the previous year,” said Juventus in a statement.

With a revenue drop from €573.4 million in the 2019/20 season to €480.7 million, Juventus pointed at the fallout of the global health crisis for the financial distress.

The club will hold an extraordinary shareholders meeting at the end of October to allow for a new capital injection.

Despite – or precisely because of – the financial malaise, Juventus reiterated their backing for a European Super League. They were among a select group of European elite clubs who tried to break away from the existing structure of the game in spring, but the plans collapsed within hours after a public revolt.

The competition would be organised and managed by the ESLC (European Super League Company S.L.), of which each founding club is a member and shareholder with the same stake and rights, so that the Super League is owned exclusively by the clubs and not third parties, thereby creating an overlap between those bearing the business risk and those managing the television and radio rights related to the sporting competitions,” read the club statement, reflecting on the structure of the proposed European Super League.

“As of today, it is not possible to predict with certainty the outcome and future development of the Super League project, of the legitimacy of which Juventus remains confident.”

Contact the writer of this story at moc.l1660731022labto1660731022ofdlr1660731022owedi1660731022sni@i1660731022tnuk.1660731022ardni1660731022mas1660731022