Juventus recorded a loss of EUR119 million in the six months ending December 31, compared with a EUR113.7 million loss in the period a year earlier. — Reuters pic
TURIN, Feb 25 — Juventus slipped to a deeper loss in the first half of the 2021-2022 financial year as the Italian football club received less money for TV and radio rights and crowds remained limited because of the coronavirus pandemic.
Controlled by Exor EXOR.MI, the holding company of the Agnelli family, Juventus recorded a loss of EUR119 million (RM558.7 million) in the six months ending December 31, compared with a EUR113.7 million loss in the period a year earlier.
Operating revenue fell by 13.6 per cent to EUR223 million, blamed in part on the weaker media income compared to the period a year earlier when it played more matches.
In its statement, the Turin-based club also noted that stadiums remained only at 50-75 per cent capacity because of health concerns, further limiting income.
Juventus, which completed a EUR400 million fundraising in December, said it expects to end the current financial year with another significant loss after reporting a record deficit of EUR209 million in the previous year.
Italy’s most successful club sees a significant improvement in its business from 2022-23 onwards as the health emergency is expected to ease.
Italian finance police searched club offices last November, seeking documents relating to player trading between 2019 and 2021.
Juventus confirmed it was cooperating with the investigators and that it believed it complied with the laws and regulations governing the preparation of financial reports.
The team is currently fourth in Italy’s Serie A and is also in the last 16 of the Champions League — Reuters