Struggling Juventus reports record financial loss

Struggling Juventus reports record financial loss

TURIN, Italy (AP) — Juventus reported a record loss of 254.3 million euros ($246 million) for the 2021-22 fiscal year at a board meeting Friday, adding to its woes. recent in the field.

It is the fifth consecutive year that Juventus have reported losses, and they are 44.4 million euros ($43 million) more than in 2020-21.

Juventus said the increase in losses was mainly due to lower television rights revenue and media revenue due to fewer Champions League matches.

Juventus was eliminated by Villarreal in the first knockout round of last season’s Champions League.

The Bianconeri also lost their first two Champions League games this season, against Paris Saint-Germain and Benfica, and won just two of seven Serie A games.

Last weekend, Juventus lost to promoted Monza, raising questions about the condition of coach Massimiliano Allegri.

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