Juventus announced on Friday that its suspension from this season's lucrative European competition due to financial irregularities will weigh on the Italian club's revenue, with a net loss of 95.1 million euros (about $102 million) for the first half of the 2023-24 fiscal year. ) was announced.
This result compares with a loss of 29.5 million euros in the same period last year.
– Stream on ESPN+: La Liga, Bundesliga and more (US)
Juventus said in a statement that its revenue from July to December last year fell by around 26% to 173.3 million euros.
In a bid to shore up its cash-strapped finances, the Serie A club has announced a capital increase of 200 million euros, which is expected to start by the end of April.
Exor, the investment arm of the Agnelli family, which has run the Turin-based club for more than a century, has already covered part of the cash call, which represents a 64% stake, and guaranteed the rest. You will play a role as a person.
Juventus was hit by an accounting scandal at the end of 2022 related to player trades and salary payments, which included a suspension from this season's European competition.
Juventus on Friday reiterated its expectation of further losses for the current financial year after reporting a consolidated loss of 124 million euros for the year to June 30, 2023, taking cumulative losses over six years to 7. It will exceed 1 billion euros.
The club last posted a net profit in 2016-2017.
Information from Reuters contributed to this report.
