Juventus is eyeing a fresh €200m investment from banking partners following the release of more losses in its latest financial report.
The Bianconeri’s shares on the Milan Stock Exchange dropped 29% from the same period the previous year, with the extra capital needed to help issue more shares for the club.
New investment is also being cited as a tool to offset the club’s financial losses it has experienced in previous years as net debt has also increased over time.
Financial turmoil has been hanging over the heads of the Agnelli family – majority owners of Juventus – for quite some time now, having lost more than €600m in the last five years with the last time the team posting a net profit in 2016-17.
Earlier this year, Juventus was accused of market manipulation by allegedly inflating player prices amongst other accusations and were initially handed a 15 point deduction.
The points ban was later rescinded in April pending a retrial but it has become evident that the Old Lady’s financial worries off the pitch has had an impact on the growth of the club on the pitch.
Italy’s most successful club has drastically fallen from the heights of winning nine consecutive Serie A league titles between 2011 – 2020. The club has not won the Scudetto since and finished outside the qualification positions for the UEFA Champions League for the first time in over a decade.
Furthermore, the club was banned from European competition for this season as Juventus were found to have broken UEFA financial fair play rules, owing to the increasing woes surrounding the club.
Aiming to turn their fortunes around, the Agnelli family is looking to bankers who previously cashed out their previous stakes in the club to re-invest, albeit not being able to make as much of a return on profit as they previously did.
Forbes stated that the only way Juventus will be able to make money is if ‘the Agnelli family sells’, which would bring the end to an ownership that dates back to 1923.