Juventus announced today that it has reduced its losses to 123.7 million euros during the 2022-23 financial year, 115.6 million euros less than in 2021-22.
The reduction in these losses, described as “significant” by Juventus in its statement since the 2021-22 financial year they reached 239.3 million euros (a record in the history of the club), was made possible thanks to the cut of operating costs and in particular the departure of highly paid players.
Juventus continues to reduce its wage bill during the summer market with the departure of players such as Ángel Di María, Leandro Paredes, Juan Guillermo Cuadrado and Leonardo Bonucci.
Double punishment takes it
however, by not participating in any European competition due to the double penalty, by the Italian sports authority for accounting fraud and by UEFA for failure to comply with financial fair play, its revenue will decrease in the 2023-24 financial year.
Due to this situation, Juventus announced that it will be carried out a new capital increase of 200 million eurosthe third in four years after the 300 million euro injection in 2019 and 400 in 2021.
The majority shareholder, Exor, an investment company of the Agnelli family, will participate in 128 million euros.
Source: La Verdad
I am Shawn Partain, a journalist and content creator working for the Today Times Live. I specialize in sports journalism, writing articles that cover major sporting events and news stories. With a passion for storytelling and an eye for detail, I strive to be accurate and insightful in my work.
