Thursday June 23 2011
€70m budget for Juve?

Juventus could have as much as €70m to spend on the transfer market this summer after the club received a cash injection of €120m.

The club's board of directors met this afternoon where it was agreed that fresh funds would be pumped into the struggling Italian giants.

As well as the introduction of €120m, the club's parent company Exor will also loan the Bianconeri a further €70m until December 2011.

The increase in capital was needed to offset losses of around €60m after the club again failed to qualify for the Champions League.

It's unclear how much of the fresh funds will be given to director general Beppe Marotta to conduct this summer's transfer moves, but speculation suggests it could be around €70m.

The club yesterday completed the captures of previous loan players Alessandro Matri, Fabio Quagliarella, Marco Motta and Simone Pepe for a massive €37.25m – but those fees are payable in three annual instalments.

Juventus have promised fans the purchase of a top player this summer and have been chasing Atletico Madrid's Sergio Aguero and Alexis Sanchez of Udinese.

To date the club have made three new signings with Andrea Pirlo, Reto Ziegler and Michele Pazienza coming in on free transfers.

The new season should also bring an increase in revenue to the outfit given that their remodelled Stadio Delle Alpi will be the first arena to be owned by an Italian club.

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