Juventus face 拢275m losses due to Covid-19 and are to sell shares to raise cash

Image source, Nicol貌 Campo

Image caption, Maurizio Arrivabene will take over the football business section of Juventus
  • Author, Simon Stone
  • Role, 成人快手 Sport

Juventus say they expect to lose 鈧320m (拢275m) because of the coronavirus pandemic.

And the Italian giants are planning to raise 鈧400m (拢343.25m) in capital through a share sale to ease the financial pressure on them.

Juve missed out on the Serie A title for the first time since 2012 last season.

They are also still in dispute with Uefa over the collapsed European Super League project.

Questions were already being raised over the sustainability of their business model following the club-record 拢99.2m arrival of Cristiano Ronaldo from Real Madrid in 2018.

The stated aim was for the 36-year-old to help Juventus win the Champions League, but they have not gone beyond the quarter-finals since his arrival and exited at the last-16 stage in the past two seasons.

Meanwhile, Juventus have confirmed Maurizio Arrivabene will assume management of the football business section of the club.

It means Arrivabene, a former team principal at the Ferrari Formula 1 outfit, will assume some of the responsibilities previously held by Fabio Paratici, who left the club in May and recently joined Tottenham as their sporting director.