Ranking of Italian billionaires: John Elkann (photo Lapresse) behind Piersilvio Berlusconi and equal to Mister Cremonese, Arvedi
Juventus, the numbers just don’t add up. The case of the July-September quarter and John Elkann’s moves
There Juventus continues to be in crisis, but not on the field, where the team Cheer up beat the league leaders Milan at San Siro and is now rightfully a candidate among the title contenders (since he doesn’t even have cups). The problems are once again natural financial. The Juventus club – we read in Il Corriere della Sera – has lost 75 million euros between July and September. The quarterly red forced the company to proceed with a capital increase of 200 million, which was approved by the board of directors on Monday and will be put to a vote at the shareholders meeting scheduled for November 23. Exor, majority shareholder of the club with 63.8%, has already committed to subscribe to the strengthening on a pro-rata basis assets for a total of 128 million.
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In the next few days – continues Il Corriere – the holding of the Agnelli-Elkann family will pay an advance of 80 million “in order to strengthen the capital and financial structure of the company pending the execution of the capital increase”. It remains to be seen whether the other Juventus members will want to join to the capital increase, the third in the space of four years for a total of 900 million paid into the club’s coffers to cover the losses. In the past, the British fund Lindsell Trainthe second largest shareholder with 11.4%, has criticized the club’s management which lost 123 million in the last financial year.
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