Juventus, 2023/24 budget towards a loss of 200 million euros
Juventus is preparing to close the 2023/24 financial year with a loss of around 200 million eurosCalcio e Finanza writes that “the figure in Exor’s official documents (-81 million euros in the second half of the year, for a total of -176 million euros in the 2023/24 season) does not take into account some operations after the end of the financial year. Among these, the agreement for the termination of the contract of goalkeeper Wojciech Szczesny and the transfer of Federico Chiesa to Liverpool”. “The Exor half-year data should be taken with caution, considering that the Juventus numbers reported are used to draw up the holding’s consolidated balance sheet – explains Calcio e Finanza – However, as has already happened in previous years, the data that emerges from the Exor accounts, although partly different from that of the Juventus accounts, represents a reliable indicator to anticipate the result of the black and white company”.
For Juve, a step back from the 123 million deficit of last year, but better numbers compared to the 239.3 million loss in 2021-22.
The board of directors scheduled for these hours will however define the Juventus budget which will be discussed and approved at the shareholders’ meeting scheduled for Thursday 7 November.
Finally, it should be remembered that the next signature of Wojciech Szczesny with Barcelona will lead to a saving of 2 million on the Polish goalkeeper’s severance pay.
Inter, board of directors approves the budget: losses fall to 36 million. Oaktree recapitalizes for 47 million
Inter continues its improving trend on the financial front. If the pitch led to the second star scudetto for the Nerazzurri team led by Simone Inzaghi, the club goes from -85 in 2022-23 to -36 in 2023-24. Let’s see the press release on the approved budget project.
The Board of Directors of FC Internazionale Milano SpA has approved the draft financial statements for the 2023/24 fiscal year, at the end of the meeting held yesterday at the Club’s headquarters. The financial statements will be submitted for approval by the Shareholders’ Meeting of FC Internazionale Milano SpA, which will be convened for the end of October. There is a further strong reduction in losses compared to the 2022/23 fiscal year, which go from 85 to 36 million euros, a decrease of approximately 50 million euros. This result is generated on the one hand by an increase in revenues of approximately 48 million euros for a total value of 473 million euros.due to the results of the sports area which led to an increase in commercial turnover. At the same time, production costs remained almost stable compared to the previous year, for a total of 464.5 million euros. A direct consequence of these trends is a net increase in production value of 9 million euros, compared to a loss of 40 million euros in the previous financial year.
Effective May 22, 2024, funds managed by Oaktree Capital ManagementLP (“Oaktree”) own FC Internazionale Milano as the new majority shareholder. The Majority Shareholder has made a important recapitalization operation for a total of 47 million euros. The equity reserves available to the company therefore increase by €44 million through direct cash injections and by €3 million through the conversion of the last remaining portion of shareholder loans. The investments by the Majority Shareholder demonstrate the commitment to achieving the financial and operational stability of the Club, in support of the highest level of performance on and off the pitch.
The summer market in preparation for the new season was conducted in substantial balance, bringing top-level additions to the team while pursuing the goal of combining financial sustainability and sporting success. Furthermore, since the start of the 2024/25 season, new important partnerships have been signed that have further enhanced the value of the Nerazzurri shirt, confirming the international appeal of the Inter brand. Betsson Sport, the global infotainment giant, is now present on the front of the Nerazzurri shirt with the largest agreement of its kind in the Club’s history, and Gate.io, one of the world’s leading cryptocurrency exchanges, on the sleeve.
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