Juventus, one of Italy’s most popular football clubs, announced significant losses in their latest financial report. The Serie A giants revealed that they recorded losses of almost 200 million euros for the 2023/24 season, a significant increase from the previous season’s loss of 123.7 million euros. The main reason cited for these losses was the non-participation of the men’s first team in the UEFA Champions League, which cost the club approximately 90-95 million euros and resulted in a drop in revenues to 360 million euros.
The financial troubles for Juventus began when they were banned from European football for a year in July 2023 due to breaching UEFA’s Financial Fair Play regulations. Additionally, the club faced a 10-point penalty in Serie A for accounting offenses related to transfers, leading to a seventh-place finish in the 2022/23 season. Juventus also mentioned that their accounts were affected by a dispute with former registered players, including Cristiano Ronaldo, as well as provisions related to the dismissal of the men’s first team technical staff and write-downs of players’ registration rights.
Despite not posting a net profit since 2016/17, Juventus remains optimistic about the future. The club stated that they expect their operating result and cash flow to break even this season, with the return of the men’s team to the Champions League playing a significant role in this turnaround. Meanwhile, their biggest rivals, Inter Milan, managed to reduce their losses from 85 million euros to 36 million euros in their recent financial accounts. This improvement came after US fund Oaktree took control of Inter Milan following the club’s previous Chinese owners, Suning, failing to repay a significant debt.
In contrast to their counterparts, AC Milan reported a profit of 6.1 million euros in their most recent financial accounts for the 2022/23 season. The club’s positive financial performance reflects their strong management and financial stability compared to some other Serie A clubs. Despite the challenges faced by Italian football clubs in recent years, including financial fair play regulations and mounting debts, some clubs like AC Milan have managed to navigate these obstacles successfully. Juventus and Inter Milan’s experiences highlight the importance of financial management and stability in the competitive world of professional football.
Overall, the financial struggles of Juventus and the contrasting performances of Inter Milan and AC Milan showcase the varying fortunes of Serie A clubs in the current landscape. While Juventus faces significant losses due to their exclusion from European competitions, they remain optimistic about their future prospects. Inter Milan’s improved financial situation under new ownership demonstrates the potential for turnaround with proper management, while AC Milan’s profitability highlights the importance of sound financial practices in sustaining a successful football club. In the competitive world of European football, financial stability is crucial for clubs to maintain their competitiveness and achieve long-term success.
