Juventus announce massive £99m loss after half of the season in Serie A

Juventus announce massive £99m loss after half of the season in Serie A

- Juventus have recorded £99million loss in the first half of the season

- The club's finances were affected due to the global pandemic over the past year

- The Bianconeri are currently third on the Serie A table behind AC Milan and Inter Milan

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Juventus experienced a drop in revenue in the first six months of the 2020-21 campaign as the Italian champions announced a massive £99million loss, Daily Mail.

The global pandemic has affected several clubs' income this campaign and the Serie A giants are one of the team counting their losses.

Juventus announce massive £99m loss after half of the season in Serie A
Juventus announced their mid-season financial report for the 2020-21 campaign. Photo by Alberto Gandolfo
Source: Getty Images

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A Juventus statement read:

"During the first half of the 2020-2021 financial year, the continuation of the pandemic generated a significant negative impact on revenues (mainly from competitions and products), which can be estimated at approximately 50 million euros (£43.5million).

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"Vice versa, the impact on costs was not significant, as the savings related to the lack of competitions were partially offset by costs related to the pandemic (primarily, for health safety and protective devices).
"The first half of the the 2020-21 financial year therefore ended with a loss of €113.7 million (£99.07million) compared to the loss of €50.3 million (£43.83million) in the first half of the previous year."

The Bianconeri have continued to play their games without their fans inside the stadium as the government have restricted spectators from entering the matchday venues.

The club and players agreed to wave off four months of their wages totalling up to £80m to help them cushion their finances between March and June in 2020.

Juve had envisaged a loss in revenue during the mid-season but the club claims it will not affect their transfer plans for 2021.

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Meanwhile, Legit.ng had earlier reported that the world's most valuable top ten players have been released and Cristiano Ronaldo and Lionel and conspicuously missing on the list, The Sun.

The British news media outlet quoted the KPMG with the players that are worth hundreds of millions in the transfer market.

It was no surprise that Paris Saint Germain's Kylian Mbappe topped the list as the French striker is now worth a mouthwatering £159million.

Akan Anwankwo is a sports editor with Legit.ng and has 7 years of field and office experience. He graduated from the University of Lagos in 2014 with a Bachelors degree in English and Literature Studies. Akan intends to educate, inform and make readers passionate about sports. Learn more about him on his Twitter handle: @ anwankwo_akan

Source: Legit

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