Juventus have reportedly suffered a financial loss worth €113.7m for the first half of the 2020-21 season and the conditions are expected to aggravate further.
The significant loss is mainly due to the pandemic, which has affected the Italian club’s ticket sales, sales of the product of licences and they are looking to make up for it by offloading players.
The club statement read,
“During the first half of the 2020/2021 financial year, the protraction of the Covid-19 pandemic generated a significant negative impact on revenues (mainly from ticket sales and product sales), which can be quantified in about € 50 million; conversely, the impact on costs was not significant, since some savings related to the lack of matches were partly offset by costs related to the pandemic (mainly health safeguards and protective devices).
Despite the difficult general economic and financial context, the directors have determined that there are no significant uncertainties with reference to the use of the going concern assumption. In developing this conclusion, it has been taken into consideration both the Group’s capitalisation (at December 31 2020 the Group shareholders’ equity amounted to € 125.5 million) and the ability to meet its financial commitments through the liquidity obtained from medium-term loans and/or using available bank credit facilities. In addition, without prejudice to the continuation of business activities – despite a context influenced by reduced liquidity in the system as a result of the protracted crisis – Juventus could dispose of players’ registration rights.”
As a result, Portuguese ace Cristiano Ronaldo, who is tied with the club until 2022, could be shown exit doors owing to his enormous contract. Although reports have been linking with his exit from Turin for a while, the former Real Madrid star’s time could come to an end this summer.
Juventus keen on McKennie deal
The Old Lady have decided to sign Weston McKennie on a permanent transfer after what looks to be an impressive loan spell so far. The USMNT youngster moved to Turin from Schalke last summer and has since been a revelation for Juve, turning out to be their best midfielder. He also scored the winning goal in Juve’s recent win against Crotone.