Consob has launched an inspection on Juventus regarding capital gains on the transfer market. This was announced in the annual financial report with the financial statements as at 30 June 2021, filed by the club for the shareholders’ meeting on 29 October. Capital gains are an important item in the balance sheets of football clubs.
What the club report says
The report, approved by the board of Juventus on 17 September last, states that «with a letter dated 12 July 2021, Consob initiated an inspection of the company, currently underway, pursuant to art. 115, paragraph 1, lett. c), of the TUF concerning the acquisition, by the Authority, of documentation and information relating to the proceeds deriving from the management of players’ rights “. The report does not add anything else and does not explain to which operations the inspection activity refers.
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Capital gains and revenues
In the consolidated financial statements at 30 June, Juventus recorded 43.2 million in total revenues from “players’ rights management”, with a decrease of 128.8 million compared to 172 million in the previous year (-75%) and 114 million compared to 157.2 million in the balance sheet at June 2019 (-72.5%). According to the financial report, compared to the previous season, “the decrease is mainly due to lower capital gains from the definitive disposal of players’ registration rights (-135.7 million), partly related to the extremely difficult economic context for the sector due to the panmdemia. These effects were offset by higher income from the temporary sale of players (+5.4 million) and by higher bonuses and income accrued in favor of Juventus in relation to the disposals of players also in previous years (+1.5 million) ” .
Balance sheet in the red for 210 million
In the consolidated statement as at 30 June last, Juventus’ total revenues, including capital gains, amounted to € 480.7 million, compared with € 573.4 million in the previous year (-16.3%). Operating revenues, excluding capital gains, amounted to € 437.5 million, compared with € 401.4 million the previous year. The financial statements closed with a net loss of -209.9 million (-89.7 million in the previous year).
The Pjanic-Arthur exchange
It is not known what are the operations of the claciomercato on which Consob is investigating. Recall that between the operations of the budget in June 2020 he discussed the sale of Miralem Pjanic to Barcelona. The player was valued at around 63 million. The Juventus club has entered in the budget a capital gain of 43.7 million. In reality, Juventus did not collect money, because at the same time they bought midfielder Arthur from the Catalan team, valued at 72 million, plus a possible bonus of 10 million if certain conditions occur during the duration of the contract. A high rating compared to the technical level of the Brazilian footballer, who played a mediocre year in Turin. Barcelona also entered a capital gain in the budget. Everyone is happy, but little money has been turned around. In fact it was an exchange and the capital gains are almost all paper.