By Daily sports on October 16, 2020

The Juventus club crest seen outside Allianz Stadium in Turin, Italy, March 12, 2020. (Reuters Photo)

Juventus recorded losses of 89.7 million euros ($105 million) for the financial year to June 30, the Italian league champions announced on Thursday.

Club president Andrea Agnelli chaired the Ordinary Shareholders’ Meeting in Turin through video conference because of the coronavirus pandemic.

And the nine-time reigning Serie A champions reported a deficit which included the 39.9m euro shortfall from the previous financial year.

“The Ordinary Shareholders’ Meeting approved the financial statements as of 30 June 2020, reporting a loss of 89.7 million euros (compared to a loss of 39.9 million euros in 2018/2019), which was covered by using the share premium reserve,” Juventus said in a statement.

The Turin giants also announced a new organisational structure with Federico Cherubini taking over as new football director.

Juventus’ “new organisational structure envisages the concentration of the club’s activities in two macro-structures: the Football Area and the Business Area”.

“Federico Cherubini assumes the role of Football Director, directly reporting to Fabio Paratici, who maintains the direct responsibility of the First Team,” the team added. (AFP)

•PHOTO: Juventus players 

Source Daily sports

Posted October 16, 2020

Dortmund Spank Augsburg In Bundesliga Opener

Chelsea Record £145.6m Loss Despite Champions League Success...

Nigeria storm India for Commonwealth Weightlifting Championship

World Champion Cheruiyot Ready To Hunt For Glory...

Sports Minister Orders Overhaul Of Super Eagles

AC Milan face financial fair-play penalties