AS Roma, the Italian soccer team owned by American business mogul Dan Friedkin, reported a team record loss of $216 million for the 2020-21 fiscal year on Tuesday.
Roma is one of six Serie A clubs under American ownership, along with Genoa, AC Milan, Fiorentina, Spezia, and Venezia.
Italy’s top-flight league suffered significant losses during the global pandemic.
- Genoa, Italy’s oldest soccer team, saw a $38 million loss in 2020.
- Juventus reported a $246.6 million loss during the 2020-21 financial year.
- Inter Milan won a 19th Serie A title in May but took a $284.6 million hit in FY2021.
- For the financial year ending June 30, AC Milan suffered a $111.8 million loss, down from a record $225.6 million loss last year.
AS Roma still generated $220.2 million in revenue in FY2021, a 25% increase year-over-year. The results were driven by television and image rights, which accounted for $143.7 million of the club’s total revenue.
AS Roma is preparing for a capital increase of up to $533 million by the end of 2022. The club’s board originally planned for a $243.4 million capital increase at the end of 2021 but quickly raised that amount and extended the deadline.