Juventus Hit Rock Bottom: Italian Giants Reel from Massive Financial Blow
- Italian football club Juventus is expected to record another loss in the next financial year, with a projected loss of 199.2 million euros in the 12 months to...
- The club's revenue fell by 22% to 395 million euros in the 2023-2024 fiscal year, primarily due to its withdrawal from European club competition following accounting problems.
- The annual loss marks a significant increase from the previous year's loss of 124 million euros.
Juventus Expects Another Loss in the Next Financial Year
Italian football club Juventus is expected to record another loss in the next financial year, with a projected loss of 199.2 million euros in the 12 months to June 2024, despite achieving breakeven at current operating levels.
The club’s revenue fell by 22% to 395 million euros in the 2023-2024 fiscal year, primarily due to its withdrawal from European club competition following accounting problems.
The annual loss marks a significant increase from the previous year’s loss of 124 million euros.
Juventus, which has been controlled by the Agnelli family for over a century, has had to undertake substantial fundraising efforts, securing approximately 900 million euros from its shareholders over the past five years through three separate cash operations to bolster its balance sheet.
The company attributes its expected improvement to rebounding from participation in the Champions League and implementing cost-cutting measures. “It is expected that operating expenses and cash flow will level off in the 2024-2025 fiscal year,” the club stated.
According to its business plan, Juventus aims to return to net profit in the 2026-2027 financial year, marking a significant milestone since the club last turned a profit in the 2016-2017 financial year.