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Rome: Italian club Juventus announced on Friday losses of 209.9 million euros ($246 million) in the financial year ending in June 2021, compared to 89.7 million last year, as the repercussions of the Corona virus pandemic continued.
The club said in a statement that the continued spread of the epidemic had a “significant, direct and negative impact” on revenues, especially due to the decline in the sale of tickets and products.
However, some of these and other losses were partially offset by higher income from TV rights from matches postponed from 2020.
The Bianconeri said last August that the board of directors had agreed to inject 400 million euros of capital into the club’s budget in order to ensure its continuity in light of the effects of the Covid-19 pandemic.
The pandemic has caused resource losses to clubs across Europe, but according to Deloitte, revenue in Serie A for the 2019-20 season fell by 18 percent, the largest drop among the continent’s five major leagues (England, Spain, Italy, Germany and France).