Juve: “No capital increases until 2025”, the minutes of the shareholders’ meeting

“The Company reports in any case that the Three-Year Plan for the years 2022/23 2024/25, approved by the Company in June 2022, does not provide for the implementation of capital increases”. In a nutshell, it must be said, no further capital increases are foreseen for Juventus between now and 2025 in addition to those of a total of 700 million already carried out between 2019 and 2021. John Elkann, number one at Exor – family safe and majority shareholder – he had already clarified at the Investor Day last November.

In assembly

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This same position is not of today but of last January 18, in response to a shareholder who had asked the question at the shareholders’ meeting in which the new board of directors was appointed. What arrives now is the minutes of that meeting: “The question is not pertinent to the items on the agenda and is also asked to candidates who have not yet assumed the role of directors on the Company’s Board of Directors”, the answer arrived, continued with reference to the Three-Year Plan launched by the previous top management.

Elkann’s position

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A position in line with what was declared, as mentioned, by John Elkann last November 30 in the annual conference call on the performance of the group: “Juve does not need a new capital increase”. And again: “Juventus doesn’t need capital, today they find themselves in a situation where the directions to follow are very clear”. A lot has happened since then, although these declarations were already following the resignation of Andrea Agnelli and the indication of Ferrero and Scanavino as the new references of the club, but after months the position has not changed.

On the investigations

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Between the lines of the report, other known positions of the club. Like the one that is very topical in reference to sports and judicial investigations into company accounts: “The Company underlines that it remains convinced, also taking into account the legal and accounting investigations carried out by the Company on the basis of opinions issued by independent experts, that it has operated in the compliance with the laws and regulations governing the preparation of financial reports, in compliance with the applicable accounting standards and related application criteria and in line with the international practice of the football industry”.