JUVENTUS significantly reduced its annual net loss to 58 million euros for the fiscal year ending June 30, a major improvement from the 199 million euro loss recorded the previous year.
The Italian football club’s return to the lucrative UEFA Champions League was a primary driver behind this financial recovery.
Revenue at the Turin-based club surged to 529 million euros, up substantially from 394 million euros a year earlier.
Participation in the Champions League and the expanded Club World Cup contributed significantly to this revenue growth.
The club confirmed it earned approximately 102 million euros from Champions League broadcasting rights, ticket sales, and Club World Cup incomes.
This financial rebound follows a difficult period for the club, which was previously dominant in Italian football until 2020.
An accounting scandal concerning player transfers and salary payments led to a ban from European competitions for the 2023/2024 season.
For the current fiscal year, Juventus now anticipates only a limited improvement in its results and cash flow.
The club’s updated forecast aims to approach breakeven by the 2026/2027 season, a more cautious outlook than its previous target of returning to profit by that date.
Juventus last reported an annual net profit in the 2016/2017 season.
The club, under the century-long control of the Agnelli family, also announced a proposed share capital increase of up to 110 million euros.
Exor, the Agnelli family’s Dutch-based holding company, has already contributed nearly 30 million euros towards this capital increase. – Reuters