254 million euros lost, Juventus breaks its record

Sportingly, Juventus is not in dazzling form at the start of the season. But this is nothing compared to the financial situation of the Italian club which revealed record losses.

Even if the accounts are not good, the members of the board of directors have validated the financial results for the 2021-2021 season of the Old Lady. In the end Juventus ended up with a deficit of 254.3 million euros, a sad first in the long history of the legendary Italian club, and indeed of all of Italian football. And alas, this confirms a situation that is getting more tense from year to year, since the Turin club has had a fifth consecutive season with accounts in the red (-19 million euros in 2017-18, -40 million in 2018-19, -90 million in 2019-20, -210 million euros last year). To explain this explosion in the deficit, there are obviously the direct effects of the covid crisis, with stadium receipts having gone from 74 million to 32 million euros, for example. Similarly, if the players had agreed to make an effort during the pandemic phase, salaries returned to a normal level in 2021-2022, and inevitably this weighed on the accounts a little more, as did the drop in TV rights. .

Andrea Agnelli supported by his cousin at Juventus

However, despite this very complicated situation, Andrea Agnelli retains the confidence of his cousin, John Elkann, the CEO of Exor and grandson of Gianni Agnelli, the founder of the Fiat group, owner of Juventus. On October 28, the general assembly of Juve should validate these bad accounts, knowing already that the board of directors has validated the sporting choice to keep Massimiliano Allegri as coach, his possible dismissal having a significant financial cost. which is therefore not relevant. In Italy, some point out that with such a balance sheet, we understand better why Andrea Agnelli pushed very hard for the creation of a European Super League, which would have put the Turin accounts back in the green very quickly. But we know the rest of this story.

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