MILAN (Reuters) -Juventus posted a 58 million euro ($68 million) loss in the fiscal year ended June 30, versus a 199 million euro loss a year earlier, as the Italian soccer club returned to Europe’s lucrative elite club competition Champions League.
Revenue at the Turin-based club, which also benefited from its participation to the expanded club World Cup, increased to 529 million euros in the period, from 394 million euro the year earlier.
Juventus said in a statement that it pocketed some 102 million euros from Champions League’s broadcasting rights and ticket sales and from incomes stemming from the club World Cup.
After dominating the Italian soccer landscape for nearly a decade until 2020, Juventus was hit by an accounting scandal linked to player trading and salary payments, resulting in a ban on European competitions in the 2023/2024 season.
The club said it now expects a limited improvement in results and cashflow in the current fiscal year, helping it to get close to breakeven in the 2026/2027. The view is slightly more prudent than its previous forecast, which targeted a return to profit in the 2026/2027 season.
The club posted its last annual net profit in the 2016/2017 season.
Juventus, which has been controlled by the Agnelli family for a century, said its board will propose shareholders to approve a share capital increase of up to 110 million euros. Exor, the Netherlands-based holding company of the Agnellis, has already paid nearly 30 million euros of that capital increase.
($1 = 0.8548 euros)
(Reporting by Elvira Pollina; Editing by Leslie Adler)
