Juventus seeks up to 200 mln euros from investors after another financial loss

Juventus said on Friday it planned to ask shareholders for a new capital increase of up to 200 million euros ($212 million) as the Italian soccer club saw another loss for the current fiscal year.

The Serie A club, controlled by the Agnelli family for a century, said parent company Exor would support the capital raising.

Before the deal announced on Friday, Juventus had already raised around 700 million euros from its shareholders over the past four years, in two different capital increases.

Roughly two thirds of the cash calls have been covered by Exor, the investment arm of the Agnelli family.

The Turin-based club said it had posted a net loss of 124 million euros in the fiscal year to June 30, 2023. That compares with a record deficit of some 240 million euros in the previous fiscal year.

This brings Juventus cumulated losses to over 700 million euros in six years, after it last posted a net profit in 2016-2017.

Italy's most successful club has been in turmoil for the past few months.

Hit by an accounting scandal linked to player trading and salary payments, it suffered a 10-point deduction in the last Serie A season, a 718,000 euro fine and a ban from this season's European competitions.

The club has denied wrongdoing and said its accounting is in line with industry standards.