Friday September 11 2015
Juventus turn a profit

Juventus have turned a profit after six years, gained €19.7m on the transfer market, but invested in “an adequate technical and generational turnover.”

The Bianconeri announced their balance sheet for the 2014-15 financial year, which showed a profit of €2.3m.

Last year they had run at a loss of €6.7m, but the excellent sporting results – winning the Scudetto, Coppa Italia and reaching the Champions League Final – boosted income.

The Juventus Stadium is also bringing in more and more money, as the cost of construction has now been paid off.

However, they now invest heavily in the Continassa Project, building a hotel, training camp and other facilities near the Juventus Stadium.

Operating income improved from a profit of €0.1m to €10.8m, while the net financial debt dropped to €188.9m from €206m a year ago.

The disposals and terminations of player-sharing agreements generated net capital gains of €19.7m.

Money was saved by terminating contracts early by mutual consent for Sebastian Giovinco, Marco Motta, Carlos Tevez and Fernando Llorente.

“During the first phase of the Transfer Campaign of the 2015-16 financial year, the Company earmarked significant resources to ensure an adequate technical and generational turnover of the First Team’s bench and keep talented players on staff,” read the Press release.

“As a consequence, the operating result, currently expected to be a loss, will be influenced by increases in costs relating to sports management and the changes, also with respect to future revenues, that will derive from the sporting results actually achieved in Italy and Europe.

“The Company’s goal is to consolidate the substantial equilibrium of operating profit achieved in the previous year.”