Juventus Turin recorded losses of almost 200 million euros at the end of the 2023-24 season during which the most successful club in Italian football did not play in any European competition.
According to its results published Friday, Juve saw its losses increase from 123.7 million euros to 199.2 million euros over one year, an increase of 62% in twelve months. Turnover fell to 394.7 million euros, compared to 507.7 million euros a year earlier, a drop of 22.3%.
“The results of this exercise were significantly penalized by the direct effects of the non-participation of the men’s first team in the Champions League”explained Juve in its press release.
According to her, this shortfall between TV rights, ticketing and partnerships is estimated at 90 to 95 million euros. “based on the average revenue in this area over the three previous seasons”.
A “cost rationalization policy” put in place
In 2023-24, Juve won the Italian Cup and finished 3rd in Serie A but did not participate in any European competition after being doubly penalized the previous season at Italian level for a resounding accounting scandal (deduction of points) and at European level for non-compliance with financial fair play (depriving it of the Europa Conference League).
Juventus’ financial results were also penalized by exceptional expenses of 35.9 million, to terminate the contract of its coach Massimiliano Allegri and to settle the case opposing him to Cristiano Ronaldo to whom it had to pay 9, 7 million euros in salary arrears for the 2020-21 season.
During this financial year, the Piedmontese club, controlled by the Agnelli family via the investment company Exor, however reduced its operational costs from 427.5 to 400.1 million euros, a drop of 6.4% thanks to departures of high earners.
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The Piedmontese club has also, as announced in October 2023, carried out a new capital increase of around 200 million euros, the third since 2019.
Like Juventus “continues its cost rationalization policy” and will participate this season in five competitions, including the lucrative Champions League, Italian Super Cup and Club World Cup, she expects “for the 2024-25 financial year on a balanced operating result and cash flow”.
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Juve, now coached by Thiago Motta, occupies 4th place in the championship before the 6th day, two points behind the leader, Torino.
