18 November 2010

Juventus crashed to a loss in the first quarter of this season after the Serie A giants failed to qualify for the

group stages of the Champions League.

Turnover in the first quarter of the 2010/11 financial year fell to

€48.8 million (2009/10: €64.9 million). Lower revenue from Europe cost the club €7.5 million but Juve also

suffered from new regulations on the centralised sale of TV rights in Serie A. With operating costs up to

€57.3 million (2009/10: €48.4 million), Juventus lost €17.6 million after posting an operating profit of €7.7

million in the same period a year ago.

Income from TV rights fell to €19.3 million (2009/10: €31.4 million), while sponsorship and advertisign

revenue also dropped to €9.7 million (2009/10: €10.9 million). Revenue from player registration rights was

broadly flat at €13.8 million but players’ wages continued to rise despite the failure in Europe and surged €6.5

million to €39.6 million.

The club put this down to payments of incentives to players that have left the club and totaled €9.7 million. At

a net level, Juve posted a loss of €18.5 million (2009/10: €5.6 million net profit) and shareholders funds have

fallen to €71.7 million (2009/10: €90.3 million). During the latest period, Juve spent €1.5 million on agents’

fees but saved €5.3 million net in wages after the termination by mutual consent of contracts with Mauro

Camoranesi, David Trezeguet and Jonathan Zebina.

The latest loss comes at a bad time for Juve, which is building a new stadium. Work has already started and

€39 million has been completed, which represents half the total cost of the new ground. During the latest

financial period, Juve drew down another €7.5 million of a €50 million loan agreed to fund the project and has

now taken €20 million from the loan. Sales of premium seats at the ground have started, however, with 1,400

sold for the 2011/12 season by October 31 2010. In the latest quarter, Juve also sold 15,005 season tickets

for the current campaign and that brought in gross revenue of €5.2 million.{jcomments on}

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