The Board of Directors of Juventus, chaired by Andrea Agnelli, has approved the capital increase to 400 million: Exor immediately pays 75 into the coffers of the Juventus club
The capital increase by Juventus was news announced for some time, but no less important for the many fans of the Old Lady. Indeed, given the decidedly particular moment that the football company is experiencing, the decision taken by the bianconeri consolidates the centrality of the most famous club in Italian football.
The Juventus Board of Directors approved the capital increase with the purpose of “Rebalance the sources of financing to support the achievement of the strategic objectives of the Development Plan for the years 2019/24”. The operation will be carried out by the end of 2021, through the accompaniment of a pool of institutions, already identified.
Already in the next few days Exor, the holding company of the Agnelli family which is the majority shareholder of Juventus with 63.8% of the capital, will subscribe to the portion of the capital increase pertaining to it, for 255 million. In addition, the Board asked Exor to make a payment for a future capital increase of 75 million, “in order to strengthen the equity and financial structure of the company pending the execution of the capital increase”.
This choice, explains the Turin-based company, “is part of the context of the measures aimed at cope with the significant economic and financial impacts of the Covid-19 pandemic and will make it possible to strengthen the Company’s equity structure and rebalance the sources of funding to support the achievement of the strategic objectives of the Development Plan for the years 2019/24, which have been confirmed: consolidation of the economic and financial balance, maintenance of sporting competitiveness increase in the visibility of the Juventus brand “.
Good news, therefore, both for the fans, worried about the situation linked to Cristiano Ronaldo, but also for partners and shareholders of a company that intends to remain at the top of Italian and European football. The shareholders’ meeting has already been called for October 29 to approve the financial statements.