Juventus convinced by ‘legitimacy’ of Super League as Serie A giants reveal losses

The
impact
of
the
COVID-19
pandemic
saw
income
plummet
for
the
Serie
A
club
during
the
2020-21
financial
year,
Juventus
said
on
Friday
(September
17).

Juventus
said
it
had
covered
the
losses
with
its
share
premium
reserve,
meaning
the
club’s
overall
net
debt
stood
at
€389.2million,
just
€4million
higher
than
at
the
end
of
the
previous
year.

The
Turin
club
had
reported
annual
losses
of
€89.7million
for
2019-20,
and
the
club
said
it
estimated
“direct
and
indirect
adverse
effects”
of
the
pandemic
from
March
2020
to
June
2022
to
amount
to
€320milion,
based
on
an
assumption
that
economic
normality
would
steadily
resume.

Juventus,
who
expect
to
post
”
a
significant
loss”
for
2021-22,
said
the
club’s
board
had
“decided
to
start
the
process
for
a
capital
increase
of
up
to
€400million,
including
any
share
premium,
to
be
offered
to
the
company’s
shareholders”.

Since
the
end
of
the
last
financial
year,
Juventus
have
allowed
star
forward
Cristiano
Ronaldo
to
leave
the
club
for
Manchester
United,
collecting
a
transfer
fee
and
saving
significant
sums
on
his
salary.

Together
with
Barcelona
and
Real
Madrid,
Juventus
have
continued
to
back
proposals
for
a
Super
League,
despite
widespread
opposition
to
the
scheme
when
it
was
revealed
in
April.

Where
most
clubs
backed
away
from
the
project
within
days
amid
a
wave
of
criticism,
including
the
six
English
Premier
League
clubs
involved,
Juventus
remain
apparently
keen
for
it
to
get
off
the
ground.

Club
chairman
Andrea
Agnelli
was
a
prime
figure
behind
bringing
the
concept
together
and
Juventus
included
a
section
in
their
financial
statement,
in
which
they
stood
by
their
belief
in
the
“legitmacy”
of
such
a
league.

The
club
described
the
Super
League
as
an
“alternative
to
the
UEFA
competitions
but
not
to
national
leagues
and
cups”.

The
Juventus
statement
said:
“As
at
today,
it
is
not
possible
to
predict
with
certainty
the
outcome
and
future
development
of
the
Super
League
project,
of
the
legitimacy
of
which
Juventus
remains
confident.”