Published October 06,2023
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Juventus mentioned on Friday it deliberate to ask shareholders for a brand new capital improve of as much as 200 million euros ($212 million) because the Italian soccer membership noticed one other loss for the present fiscal yr.
The Serie A membership, managed by the Agnelli household for a century, mentioned father or mother firm Exor would assist the capital elevating.
Before the deal introduced on Friday, Juventus had already raised round 700 million euros from its shareholders over the previous 4 years, in two completely different capital will increase.
Roughly two thirds of the money calls have been coated by Exor, the funding arm of the Agnelli household.
The Turin-based membership mentioned it had posted a internet lack of 124 million euros within the fiscal yr to June 30, 2023. That compares with a report deficit of some 240 million euros within the earlier fiscal yr.
This brings Juventus cumulated losses to over 700 million euros in six years, after it final posted a internet revenue in 2016-2017.
Italy’s most profitable membership has been in turmoil for the previous few months.
Hit by an accounting scandal linked to participant buying and selling and wage funds, it suffered a 10-point deduction within the final Serie A season, a 718,000 euro high quality and a ban from this season’s European competitions.
The membership has denied wrongdoing and mentioned its accounting is in keeping with trade requirements.
Source: www.anews.com.tr