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Football: Italy's market regulator looks into Juventus player revenue

Football: Italy's market regulator looks into Juventus player revenue

FILE PHOTO: Juventus supporters show their tattoos of the club's logo at their Italian Serie A soccer match against Palermo at the Juventus stadium in Turin May 5, 2013. REUTERS/Giorgio Perottino/File Photo

MILAN: Italian market regulator CONSOB is looking into Juventus revenue from player trading activity, the Serie A club said in their annual report.

Controlled by Exor, the holding company of the Agnelli family, Juventus reported a record net loss in the 2020-21 financial year at 209.9 million euros (US$245.88 million) as revenues plummeted amid the COVID-19 pandemic.

"In a letter date July, 12, CONSOB said it had started an investigation into Juventus, which is still ongoing," the company said. The authority obtained documentation "concerning revenue stemming from player trading activity," the Milan-listed club added, without providing further details.

Juventus' revenue from transfer activity fell by 75per cent to 43.18 million euros in the twelve months ending Jun 30. Total revenue fell 16per cent to 480.7 million euros.

To cope with the fallout of the pandemic, which forced clubs to play in empty stadiums, Juventus plan to raise up to 400 million euros through a capital increase.

Source: Reuters

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