Juventus report losses of 89.7m euros

Juventus recorded losses of 89.7 million euros ($105 million) for the financial year to June 30, the Italian league champions announced on Thursday.


Club president Andrea Agnelli chaired the Ordinary Shareholders’ Meeting in Turin through video conference because of the coronavirus pandemic.

The nine-time reigning Serie A champions’ losses had been 39.9m euros the previous financial year.

“The Ordinary Shareholders’ Meeting approved the financial statements as of 30 June 2020, reporting a loss of 89.7 million euros (compared to a loss of 39.9 million euros in 2018/2019), which was covered by using the share premium reserve,” Juventus said in a statement.

The Turin giants also announced a new organisational structure with Federico Cherubini taking over as new football director.

Juventus’ “new organisational structure envisages the concentration of the club’s activities in two macro-structures: the Football Area and the Business Area”.

“Federico Cherubini assumes the role of Football Director, directly reporting to Fabio Paratici, who maintains the direct responsibility of the First Team,” the team added.

For more news your way, download The Citizen’s app for iOS and Android.

For more news your way

Download our app and read this and other great stories on the move. Available for Android and iOS.