The Serie A club billed €173.3 million between July and December, 25.8% less than in the first half of 2022-2023. The club attributes this to his absence in the Champions League and a still high wage bill.
Juventus continues in losses, and will continue to be so at least until 2026-2027. This is admitted by the board of directors of the club, which in the first half of 2023-2024 recorded losses of €91.5 million, triple that of the same period of the previous year. And the reason is none other than a declining turnover due to their absence in the Champions League this year and a wage bill that is still far above what its billing capacity really supports.
The ordinary income of the team A series They fell by 25.8% year-on-year between July and December, to €173.3 million.
Television rights, which include UEFA payments, sank 50% year-on-year and stood at €47.3 million. Although to a lesser extent, staying even outside Conference League for failing to comply with financial fair play, it also impacted box office receipts (24.7 million, 13.4% less) and in the commercial area (66.4 million, 12.1% less).
Merchandising sales resisted the blow better, remaining above €15 million in the first half, while other operating income even rose by more than 5%, to 19.7 million. On the contrary, the sporting decapitalization of the project also translated into much fewer capital gains from transfers, which went from 42.8 million in the summer of 2022-2023 to only 17.3 million in the last summer market.
Despite the decline in income, management could only intervene by cutting investment in signings. The nature of the players’ contracts, which they sign for several seasons, meant that spending was barely reduced by 2%, to €128.2 million. In fact, all operating expenses were only cut by 2.4%, to 205.5 million.
On the other hand, the brake on the purchase of players did translate into significant savings in amortization of federation rights, which consumed 19.4% less and stood at 60.1 million.
The entity does not expect to resolve the strong imbalance that exists between income and expenses in the short term, although it may reduce it when it stabilizes again in Champions League and cut the wage bill even further. According to his calculations, the sporting problems and sanctions assumed in Italy and Europe (he agreed with the UEFA not participating this season in the Conference League) have an impact of €115 million, 80% of which is concentrated in 2023-2024.
In this adjustment process it has the support of its largest shareholder, the Agnelli family, which has injected €127.6 million into the club through a capital increase. The operation in total amounted to 200 million, and in December 2023 Citigroup and Unicredit were the investment banks that agreed to acquire the remaining 72 million to redistribute them in the market at the subscription price and retain those shares that did not find a new owner.
These contributions explain why the net financial debt has even been reduced between June and December 2023, going from €339.9 million to €326.8 million. At the end of the first half of 2023-2024, Juventus had €236.6 million available without using bank credit lines for €442.2 million.
Source: Ambito
I am Pierce Boyd, a driven and ambitious professional working in the news industry. I have been writing for 24 Hours Worlds for over five years, specializing in sports section coverage. During my tenure at the publication, I have built an impressive portfolio of articles that has earned me a reputation as an experienced journalist and content creator.
