Juventus reports financial loss

Due to player transfer deals in July and August, Italian Juventus had a gain of EUR 16.4 million at the end of its fiscal year June 30, 2008 but had a net loss of EUR 0.9 million in the fiscal year ending June 2007. That was less than the EUR 46 million loss from the previous year of 2006 and the club is predicting a net loss for the current year.

"Because of major investments made to strengthen the first team in the transfer season, which generate significant growth in associated costs, the full year will close in loss," the financial statement read.

Juventus said it expected the loss.

The club invested EUR 53.2 million and made a total on sales of EUR 9.3 million on the July and August player transfers. The 2007-2008 season second "window" for club transfers will take place in January.

The club had net spending of EUR 29.8 million with some payments being made in later years.

The 2007-2008 season ticket sales earned EUR 5.4 million after costs, compared to EUR 3 million from the 2005-2006 season.

Juventus returned to Serie A this season after being relegated to Serie B in the 2006-2007 season due to a match-rigging scandal.

Source: euFootball.BIZ © Copyright 2006 - All rights reserved.