Agnelli
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Agnelli asks for €300m capital increase

October 24, 2019 - 12:33 pm

Andrea Agnelli addressed Juve’s annual shareholders’ meeting and confirmed plans to raise an additional €300m through an increase in share capital while also declaring that Cristiano Ronaldo “deserves” to win the Ballon d’Or.

The Juventus president’s address was tweeted live through the clubs official account and recently reported investment plans for the future were confirmed.

“Today, we ask you, the Shareholders to approve a €300m capital increase for our 2019/2024 development plan,” began Agnelli.

“These numbers seem enormous when compared to the Italian reality, but our point of reference is the great European clubs.

“We can affirm that Juventus is the biggest club in Italian football, but also one of the biggest clubs in Europe.

“We must be extremely proud of our development and our growth rates, but we must keep with the pace.

“This is our management model: Three clear and allocated responsibilities, which must work in synergy to obtain results.

“In recent years we have also had a strong employment impact on the territory. Few companies in Italy have hired as many employees as us. To date, 885 people work at Juventus, including registered personnel.

“Our growth is confirmed by our UEFA ranking: We are currently fifth but we have reasonable grounds to think about finishing fourth.

“We have allocated around €400m to direct and indirect investments in real estate development.

“Today, our new logo is recognised everywhere, in its value and in the courage we had in launching it.

“We have built a great structure for Women’s football, with a team capable of winning two Scudetti in two years. It was important for the development of the Club to also create the U23 team.”

Ronaldo is among the 30 candidates vying for the Ballon d’Or this year, so what does the Bianconeri President think about his chances?

“I hope that Cristiano can win the Ballon d’Or because he deserves it.

“We have become the fourth fan base club in Europe. Furthermore, our new office in Hong Kong will allow us to grow further in that part of the world.

We live in a very complex industry. We have extraordinary strengths but we must also work on our weaknesses.

“This year, our commercial revenues exceed those of domestic television rights. These are results that should bode well for the future.

“The European television audience must reflect. Football is ‘getting old’ as a product offering, which remains valid for those over 35.

“New activities in the field of entertainment, such as eSports are growing strong. These are things that need to be thought about.

“Digital activity is strategic for us – it’s fundamental to maintain a global dimension. Millennials and Generation Z are important to us and we will have to seize market opportunities, for example on OTT platforms.

“Women’s football is growing rapidly. Events such as the match at Allianz Stadium in March and the World Cup confirm this. We need to be ready to seize these opportunities.

“We wanted Juventus to become a global brand and it’s an objective that we have achieved. Our vision is to make Juventus prosper as a modern, innovative and iconic brand.

“The mission, instead, is to maintain sports leadership, consolidating economic and financial results and football results both in Italy and in Europe.

“The objective of the capital increase is to strengthen the Club. We want to think big and to achieve new goals together. Fino Alla Fine.”

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