The Juventus Turin closed the 2019-20 financial year with a loss of 71.4 million euros, with a net financial debt of 385.2 million euros, according to the balance sheet presented this Friday by the board of directors of the Turin sports entity by videoconference in the ordinary shareholders meeting.
Thus, according to the accounts presented by the president of the entity, Andrea Agnelli, the income registered in the recently concluded campaign was 573.4 million euros, which represents 8 percent less than what happened at the end of the 2018-19 fiscal year (621.4 million income), undoubtedly affected the account of results due to the crisis marked by the coronavirus pandemic and that forced, among other issues, a stoppage of the competition and having to play without an audience, and despite the savings of 90 million euros in salaries, under the agreement made between club and players and coach.
In the 2018-19 season, the loss for the year stood at 39.9 million euros. Net financial debt as of June 30, 2020 stood at 385.2 million euros, growing compared to last December 31, when the effects of the capital increase of 298 million made by the entity had been reflected. Juventus, likewise, contemplates that given the current economic and financial response, marked by the coronavirus, a loss is also expected at the end of next year.