Football and finance
On 12 July the Commission that supervises listed companies started an audit, still in course. This was announced by the financial statements
of Gianni Dragoni
2 ‘reading
Consob has started an inspection on the Juventus concerning capital gains on the transfer market. This was announced in the annual financial report with the financial statements as at 30 June 2021, filed by the club for the shareholders’ meeting on 29 October. Capital gains are an important item for the balance sheets of football clubs.
What the club report
The report, approved by the board of Juventus on 17 September last, states that “by letter dated 12 July 2021, Consob an inspection has been initiated against the company, currently underway, pursuant to art. 115, paragraph 1, lett. c), of the TUF concerning the acquisition, by the Authority, of documentation and information relating to the proceeds deriving from the management of players’ rights “. The report does not add anything else and does not explain to which operations the inspection refers.
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Capital gains and revenues
In the consolidated financial statements at 30 June last, Juventus recorded under total revenues from “players’ rights management” for 43.2 million, with a decrease of 128.8 million compared to 172 million in the previous year (-75%) and 114 million compared to 157.2 million in the previous year balance sheet as at June 2019 (-72.5%). According to the financial report, compared to the previous season, “the decrease is mainly due to lower capital gains from the definitive disposal of players’ registration rights (-135.7 million), partly related to the extremely difficult economic context for the sector due to the panmdemia. These effects were offset by higher income from the temporary sale of players ( 5.4 million) and by higher bonuses and income accrued in favor of Juventus in relation to the disposals of players also in previous years ( 1.5 million) ” .
Balance sheet in red for 210 million
In the consolidated financial statements as at 30 June last, Juventus’ total revenues, including capital gains, amounted to € 480.7 million, compared with € 573.4 million in the previous year (-16.3 %). Operating revenues, excluding capital gains, amounted to € 437.5 million, compared with € 401.4 million the previous year. The financial statements closed with a net loss of -209.9 million (-89.7 million in the previous year).
The Pjanic-Arthur exchange
It is not known what the operations of the claciomarket on which Consob is investigating are. Recall that between the operations of the budget in June 2020 he discussed the sale of Miralem Pjanic to Barcelona. The player was valued at around 63 million. The Juventus club has entered in the budget a capital gain of 43.7 million. In reality, Juventus did not cash in, because at the same time they bought midfielder Arthur from the Catalan team, valued at 72 million, plus a possible bonus of 10 million if certain conditions occur during the duration of the contract. A high rating compared to the technical level of the Brazilian footballer, who played a mediocre year in Turin. Barcelona also entered a capital gain in the budget. Everyone is happy, but little money has been made. In fact it was an exchange and the capital gains are almost all paper.
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