Juventus reveal more financial losses
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Juventus have revealed new operating losses of £14.5 million.
Despite an increase of 9.7% in revenues, the club - who were recently relegated to Serie B for their part in a match-fixing scandal - were unable to balance the books, with an 11.3% increase in operating expenses in the year ending June 30, 2006.
Several players have left the club, including Zlatan Ibrahimovic, Emerson, Fabio Cannavaro, Lilian Thuram, Patrick Vieira and Gianluca Zambrotta, and those departures will boost the next set of financial figures.
However, the lack of Champions League football will certainly have an adverse impact as last season the club earned 22million euros (?14million) for reaching the quarter-finals.
The continuing decline in fans coming to the stadium will also dig further into the reserves.
The latest figures reveal a drop in gate revenue of 6.164million euros (?4.13million) in comparison with the previous financial year.
It remains to be seen whether the club will this year be able to move from their unpopular 60,000-capacity Stadio delle Alpi to the 24,000-seat Olympic Stadium as previously planned.
Despite the financial restrictions, the club will continue to invest in new training facilities in Vinovo.
Despite an increase of 9.7% in revenues, the club - who were recently relegated to Serie B for their part in a match-fixing scandal - were unable to balance the books, with an 11.3% increase in operating expenses in the year ending June 30, 2006.
Several players have left the club, including Zlatan Ibrahimovic, Emerson, Fabio Cannavaro, Lilian Thuram, Patrick Vieira and Gianluca Zambrotta, and those departures will boost the next set of financial figures.
However, the lack of Champions League football will certainly have an adverse impact as last season the club earned 22million euros (?14million) for reaching the quarter-finals.
The continuing decline in fans coming to the stadium will also dig further into the reserves.
The latest figures reveal a drop in gate revenue of 6.164million euros (?4.13million) in comparison with the previous financial year.
It remains to be seen whether the club will this year be able to move from their unpopular 60,000-capacity Stadio delle Alpi to the 24,000-seat Olympic Stadium as previously planned.
Despite the financial restrictions, the club will continue to invest in new training facilities in Vinovo.
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