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Exor half-yearly results: the family holding company's data shows the club's red, which will be approved by tomorrow's Board of Directors
No surprises. The 2023-24 budget that Juventus ' Board of Directors will approve tomorrow closes with a loss of around 200 million, a step back from last year's 123 million loss, but with better numbers compared to the 239.3 million loss in 2021-22. The details will only be available after the meeting chaired by president Gianluca Ferrero , but already yesterday, with the publication of the half-yearly report of Exor , the holding company of the Agnelli - Elkann family that controls the black and white club, important data emerged, not only on the red front, but also on revenues.
The figure in the Exor documents (81 million losses in the second half, for a total of -176 million in the 2023-24 season) does not take into account some operations after the end of the financial year, which bring the deficit to the threshold of 200 million. Among these, the agreement for the termination of the contract of goalkeeper Wojciech Szczesny , with a severance pay of 4 million that will weigh on the year ended June 30 ( even if Juventus can save two million since the Polish goalkeeper is settling in Barcelona ), and the sale of Federico Chiesa to Liverpool , which had a negative economic impact of 3 million, but the deficit could increase if the Italian winger had still had credits on the second salary maneuver. The Exor accounts nevertheless represent a reliable indicator to anticipate the result of the black and white club, which will be made public after tomorrow's board of directors and which will be discussed and approved in the shareholders' meeting scheduled for Thursday 7 November.
Juve 2023-24 Balance Sheet: It's the Seventh Consecutive in the Red
The exclusion from European Cups obviously weighs on the 2023-24 budget, the seventh consecutive in the red. This is also evident in the revenues, which grew in the second half of the year (they went from 190.6 to 231 million), but were down compared to the previous year: in 2022-23 Juventus's turnover was 507 million, while now it is around 421. The difference, not surprisingly, lies in the 80-100 million lost revenue from UEFA . It will also be interesting to see how much the savings in wages and amortizations amount to compared to June 30, 2023, while waiting for the drastic cuts made this summer by technical director Cristiano Giuntoli which will be reflected in the next budget. To achieve the goal of returning to positive territory in 2026-27, the Juventus management will have to continue along the line of cost containment, while maintaining the team competitive (and the sumptuous transfer campaign this summer, with nine purchases for an expense of around 200 million, is proof of this), but at the same time increase revenues. So it becomes essential not only to return to the Champions League , the Italian Super Cup in Arabia, the Club World Cup to have more resources, but it is necessary to find a shirt sponsor because until last year Jeep guaranteed 45 million a year.