Andrea Agnelli admits difficulties but promises battle
“The road to economic recovery has already been taken by the company.”
Having cashed in, on the field, the first success in the 2022/23 Champions League – but the road to possible qualification to the round of 16 is still winding – Juventus president Andrea Agnelli is also focused on the club’s delicate financial situation. The last balance sheet showed losses of 254 million euros: if we consider the last three years, Juve’s deficit exceeds half a billion euros.
In a long letter to the shareholders, ahead of the next shareholders’ meeting, which will be held on October 28, the number one of the ‘Old Lady’ spoke at length about the club’s administrative situation. And not only that.
“The road to economic recovery has already been taken by the club, but it is a very challenging path in stages, appearing at the end of the three seasons marked by the pandemic and passing through painful moments. From a financial economic point of view, the 2021/2022 budget, with a loss on the income statement of 254 million euros, is certainly the most bitter moment. Juventus has therefore developed, as soon as the external context allowed, a new three-year plan (2022-25) in the knowledge that the three-year period just ended does not represent the end of an expansive path, thwarted by the pandemic. On the contrary, it is the starting point of a new journey made above all of soccer, innovation and responsibility toward the new demands that society requires,” it reads.
“Juventus’ ambition is to ensure operational excellence in every activity in support of a brand development that has aspirations to become attractive to the younger generations (Z and Alpha) and intends to become truly global. The sports pillar is our core business and always will be. Juventus means competing at a high level for victory, every day and in every competition. Victory is a goal to which Juventus naturally aspires and every effort of all the women and men of Juventus will be directed toward victory, starting with the current season,” the president assured in the letter.
“Criticism and disappointment, which are commonplace in soccer, are useful for growth, should not be overlooked and will not be. The path of credibility, which I have just outlined to you, will be challenging but will bring tangible results on and off the field. Juventus has never stopped and, with the stable support for nearly a century of a key shareholder and its hundreds of millions of fans around the world, intends to write new winning chapters of its history,” he concluded.
