Juventus and United close the season with an economic deficit

Juventus Turin ended the 2020-21 financial year with a loss of 209.9 million euros, which puts its net financial debt at around 389.2 million euros, according to the Torino entity.

According to the data approved by the Board of Directors of the Turin Club, which is calling a meeting of shareholders on October 29, the losses for the 2020-21 financial year exceed the 120.2 million euros incurred in 2019-2020, when they were at 89.7 million. euro.

The 92.7 million realized income, which is mostly driven by the coronavirus, has a significant impact on this increase in debt.

For its part, Manchester United announced a net loss of 92.2 million pounds (107 million euros) between June 30, 2020 and June 30, 2021, due to the impact of the pandemic.

The English club’s total income fell 2.9% to 494 million pounds (578 million euros), while the most affected division was income on match days, which fell by 92.1% due to delays for the greater part of last season. Closed doors.

United also blame the increased losses on increased taxes paid by UK companies, although they point out that last season’s Champions League participation, as well as income from TV rights, mitigated the decline in income.

“Without a doubt, it was one of the most difficult years in Manchester United’s history,” United Executive Vice President Ed Woodward said at the conference after the results were announced.

“In the worst moments of the pandemic we said the club would emerge in a position of strength, and we think that is now when we see it. We strengthened the squad over the summer with the signings of Cristiano Ronaldo, Raphael Varane, Jadon Sancho and Tom Heaton. These additions show that we have the ability to attract some of the best players in the world to Olde. Trafford”.

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Amber Cross

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