The losses of Juventus, the Italian football club, have more than doubled compared to the same period last year, reaching 113.7 million euros in the first half of the current financial year.
Juventus stated, "The first half of the 2020-2021 financial year was severely impacted by the spread of COVID-19 and the restrictions imposed by authorities." On February 25, 2021, it was reported that the club incurred losses of 113.7 million euros ($139 million) for this period.
The club's statement continued: "The pandemic directly and significantly affected ticket sales and merchandise sales, leading to a negative impact on revenue from these operations, net income, and financial debt." For reference, the losses in the first half of the previous financial year stood at 50.3 million euros, while losses for Juventus, the Italian champions for the past nine seasons, amounted to 89.7 million euros.
Juventus noted in its statement the "positive trend in revenues from sponsorship and advertising contracts," which was slightly higher than the previous year. It added, "These negative effects were partially offset by increased revenues from television and radio broadcasting rights." Additionally, e-commerce revenues rose by 60% to compensate for the decline in revenue from direct physical sales in the club's stores.
It is worth mentioning that Juventus secured the league title last year for the ninth consecutive season but failed to advance past the Round of 16 in the UEFA Champions League.
