Juventus club records a loss of about 90 million euros

Juventus, the Italian soccer champions, announced today that the club recorded losses of about 90 million euros (105 million dollars) in the fiscal year ending June 30.

Club president Andrea Agnelli chaired the ordinary shareholders' meeting in Turin, through a closed-circuit video conference, due to the outbreak of the Corona pandemic.

In the last nine seasons, the title holders noted that the current deficit is more than double the deficit of the previous fiscal year.

The "Old Lady" club said in a statement that "the ordinary shareholders approved the financial statements in their meeting as of June 30, 2020."

He added that "a loss of 89.7 million euros was recorded (compared to a loss of 39.9 million euros in 2018/2019), which was covered by the use of stock reserves."

On the other hand, the club announced a new organizational structure with Federico Kirobini assuming the position of the new football manager.

The new organizational structure includes "focusing the club's activities on two areas: the football area and the business district," according to the statement, which added that Kirobini "will assume the role of football manager and report directly to Fabio Paratici, who assumes direct responsibility for the first team."

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