Juventus have recorded a financial loss for the first half of the 2010-11 season.
The Old Lady posted a deficit of €39.5m, more than double this time last year.
It's thought that investment in the new stadium and last year's failure to qualify for the Champions League are behind the figures.
Juventus' financial results were announced at a meeting of the club's majority shareholders.
Khaled Fareg Zentuti, the representative of Lafico, the Libyan company with a 7.5 per cent stake in the club, wasn't present for reasons well-documented in the media.