As we all know by now, the Covid-19 pandemic left the majority of top European clubs in great financial difficulties. In Italy, Inter were forced to downsize their project following the Scudetto triumph, while the other clubs were barely able to fill the voids within their squads during the summer transfer session.
For their part, Juventus were amongst the clubs who were damaged the most, as they were unable to garner enough income to cover for their large wage bill.
On Friday, the club announced a loss of 209.9 million euros during the 2020/21 season which was entirely played behind closed doors.
“The Board of Directors approved the consolidated financial statements for the financial year ended June 30, 2021, which show a loss of € 209.9 million that will be covered by the share premium reserve,” reads Juve’s official statement as reported by Football Italia.
“The transactions finalized in 2020/2021 Transfer Campaign, which was held from September 1 to October 5, 2020, and from January 4 to February 1, 2021, led to a total increase in invested capital of € 120.6 million resulting from acquisitions and increases for € 121.6 million and disposals for € 1.0 million (net book value of disposed rights),” the club revealed.
“Net expenses deriving from temporary transfers came to € 9.4 million. The net capital gains generated by the disposals came to € 30.5 million. The total net financial commitment of € 88.7 million is spread over four years, and includes auxiliary expenses as well as financial income and expenses implicit in deferred receipts and payments.”
The statement also discussed the infamous European Super League project, which was launched last April. The idea turned out to be highly controversial, and UEFA spearheaded a campaign to abolish it.
Out of the 12 founding members, nine announced their exit only 48 hours after it launching, but Juventus are still adamant on continuing the project – alongside Real Madrid and Barcelona – and they reaffirmed their intentions once again.
“On April 19, 2021, Juventus announced the execution of an agreement with other 11 top European clubs for the creation of the Super League, a new European football competition, alternative to the UEFA competitions but not to national leagues and cups,” the statement read.
“The competition would be organized and managed by the ESLC (European Super League Company S.L.), of which each Founding Club is a shareholder with the same stake and rights, so that the whole Super League project is owned exclusively by the clubs and not by third parties, thus creating an overlap between those bearing the business risk and those managing the television and radio rights related to the sporting competitions.
“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.”