Donovan McNabb and the State of Football
Juventus finalized its numbers for a tumultuous financial year as it looks to its next chapter as a club.
Shareholders approved the team’s financial statement ending June 2022, which showed a $254.8 million loss.
- The club attributed the record financial hit to the pandemic and an early elimination in the UEFA Champions League.
- The publicly traded team released a revised financial statement on Dec. 2 following questions from CONSOB, Italy’s regulatory body for securities markets.
- Juve announced on Nov. 28 that its entire board of directors would resign over irregularities in its financial statements regarding player transfers
Juventus’ stock is down nearly 7% on the year but up 25.4% since the board announced its resignation.
The club currently sits in third place in Serie A, which would be an improvement over the previous two years’ fourth-place finishes but below the team’s lofty standards. Juventus was the top team in Serie A for nine consecutive seasons ending with the 2019-20 campaign.
Probe Goes Into Extra Time
Italian prosecutors are seeking to reopen an investigation around the accounting practices of Juventus and other clubs.
A court previously cleared all 11 clubs and 59 individuals under investigation, including Juventus chairman Andrea Agnelli, who has since resigned. Prosecutors are seeking revised charges against nine clubs, including Juventus and 52 people.
