Juventus has announced a record-breaking €254.3m loss in their latest financial reporting.
The Bianconeri have been struggling with the after-effect of the 2020 covid pandemic and it continues to tell on their finances.
As one of the biggest clubs in the world, they have continued to spend money to bolster their team to remain competitive.
They announced their latest financials yesterday while Italy took on England.
It seems deliberate to have delivered the bad news at that time because it is the highest loss a Serie A club has ever recorded, according to Football Italia.
It means they have lost more than last year when they posted a €209.9m deficit, and the report reveals it is now the fifth consecutive year they have been in the red.
Juve FC Says
This loss is a huge one and it could get the club into some serious trouble unless we address the reoccurring issue.
Ending every season in financial trouble will eventually catch up with us and we would not want to be in that situation.
The club knows this and we expect they are making plans to make the team profitable again.
With the fans shunning the season tickets and more players expected to be signed in the summer, it is hard to see the team make a profit in the next financial year.