Juventus, the board of directors approves the 2021-22 accounts: 254.3 million red

The board of Juventus chaired by Andrea Agnelli approved the 2021-22 budget project, which ended with the highest loss ever in Juventus history: 254.3 million. It is the fifth year in a row in the red: -19 million in 2017-18, -40 in 2018-19, -90 in 2019-20, -210 in 2020-21 and last season’s record loss.

Reasons

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The worsening of the accounts was affected by the increase in the cost of labor, due not to a tendential growth of the same but to the loss of the benefits of the contractual renegotiations that the team had accepted to face the pandemic emergency. The difference compared to last year also lies in the different posting of TV rights. The Covid effect was also felt in the 2021-22 financial year: stadium revenues grew from 8 to 32 million but have not yet returned to full capacity (they were 74 million in 2018-19), transfer market proceeds have attested on 41 million. The shareholders’ meeting, called for October 28th, will be called to approve the 2021-22 accounts. The Juventus board also launched a compensation plan based on financial instruments to be reserved for executives and directors and the proposal to authorize the purchase of treasury shares. As expected, no action was taken regarding Massimiliano Allegri’s bench: the club had already leaked its intention to confirm the coach.