The Financial Situation (63 Viewers)
- Thread starter ReBeL
- Start date
Attention is not as it appears, Although the statement does not clearly show, according to multiple sources interviewed by Calcio e Finanza, the agreement reached between the club, players and coach, will not result in a total renunciation of the four months indicated (March, April, May and June).
The agreement provides for Juventus and Sarri players to waive the payment of the 4 monthly payments during this sporting season, while recovering 2.5 months in the coming seasons. The real renunciation for players and coaches is therefore a month and a half.
To give a concrete example, Cristiano Ronaldo, who with his 31 million euros for season is Juventus' highest paid footballer, will waive the payment of 2.59 million euros per month for each of the months of March, April, May and June (10.33 million euros in total).
The 2.5 months will be paid after June 30, 2020, in ways that are being defined.
In the event that the payment is recovered entirely in the 2020-2021 season, the Portuguese will recover 6.458 million euros, which will add to the 31 million euros of engagements for the next season. Alternatively, the figure could for example be spread over the remaining years of the contract: Ronaldo, whose contract will expire in 2022, would thus recover 3.2 million in 2020-21 and the other 3.2 million in 2021-22.
In essence, however, CR7 will waive € 3.875 million, equivalent to a month and a half.
Overall, therefore, the Juventus team and coach Maurizio Sarri will give up about 33.75 million euros: the remaining 56.25 million will be recovered after 30 June 2020, in the next season or in the seasons to follow.
The agreement provides for Juventus and Sarri players to waive the payment of the 4 monthly payments during this sporting season, while recovering 2.5 months in the coming seasons. The real renunciation for players and coaches is therefore a month and a half.
To give a concrete example, Cristiano Ronaldo, who with his 31 million euros for season is Juventus' highest paid footballer, will waive the payment of 2.59 million euros per month for each of the months of March, April, May and June (10.33 million euros in total).
The 2.5 months will be paid after June 30, 2020, in ways that are being defined.
In the event that the payment is recovered entirely in the 2020-2021 season, the Portuguese will recover 6.458 million euros, which will add to the 31 million euros of engagements for the next season. Alternatively, the figure could for example be spread over the remaining years of the contract: Ronaldo, whose contract will expire in 2022, would thus recover 3.2 million in 2020-21 and the other 3.2 million in 2021-22.
In essence, however, CR7 will waive € 3.875 million, equivalent to a month and a half.
Overall, therefore, the Juventus team and coach Maurizio Sarri will give up about 33.75 million euros: the remaining 56.25 million will be recovered after 30 June 2020, in the next season or in the seasons to follow.
Faced with mounting concerns and daily updates about the crisis wrought by the coronavirus pandemic on the global soccer industry, FIFA is drawing up plans for an emergency relief fund worth hundreds of millions of dollars, according to people with knowledge of the matter.
https://www.nytimes.com/2020/03/31/sports/soccer/coronavirus-fifa-soccer-emergency-fund.html
https://www.nytimes.com/2020/03/31/sports/soccer/coronavirus-fifa-soccer-emergency-fund.html
The salary cut from the players will help protect the budget and provide a 'parachute' in case the season ends now. [CdS]
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Banca IMI estimates in the worst case scenario, Juventus could lose up to €110m this season: €5m related to TV rights of Serie A & CL, €40m from sponsorship & €20m from game day revenue.
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Banca IMI estimates in the worst case scenario, Juventus could lose up to €110m this season: €5m related to TV rights of Serie A & CL, €40m from sponsorship & €20m from game day revenue.
pulling over from other thread as well...
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Juventus 'positioned for sustainable future'
By Football Italia staff
Holding company Exor “believe Juventus is well positioned for a more sustainable future” and “starts the next stage of its journey with a strong position in European football” after increasing revenue by 23%.
President John Elkann, one of the heirs to the Agnelli family that has owned Juventus since the early 20th Century, released a lengthy letter to investors today.
It included a message on Juventus, as Exor own 63.77 per cent of the football club.
“On the commercial side, Juventus’ revenues grew to €621 million (€505 million in 2018, +23%) and its diversification strategy continued with the opening of the J-Hotel (the first hotel structure in Italy built in collaboration with a football club) and the opening of a branch in Hong Kong to increase its exposure to the Asian market,” wrote Elkann to shareholders.
“The club now has 420 million supporters worldwide. This number is strengthened by its digital audience, with 41 million on Facebook, 38 million on Instagram, 11 million on Twitter, 2.6 million on YouTube and 2.6 million on SinaWeibo.
“We invested in Juventus this year by underwriting our entire portion, equal to €191 million (63.8% of the share capital) of the fully subscribed capital increase of €300 million. This year the club also issued a €175 million bond, the first unsecured senior bond issued by a football club.
“With its newly-strengthened balance sheet we believe that Juventus is well positioned for a more sustainable future in an industry in which the extraordinary revenue growth of the last decade has not been translated into sufficient profitability.
“Juventus also starts the next stage of its journey with a strong position in European 10 football. For the fourth year in the row it has been the fifth club in UEFA’s official ranking and it is the only Italian club to have been consistently placed in the top 10 for the last 5 years.
“It will continue to work with other teams and institutions under the strong leadership of its Chairman, Andrea Agnelli, who also chairs the European Club Association, to secure a sustainable future for the most popular sport in the world.”
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Juventus 'positioned for sustainable future'
By Football Italia staff
Holding company Exor “believe Juventus is well positioned for a more sustainable future” and “starts the next stage of its journey with a strong position in European football” after increasing revenue by 23%.
President John Elkann, one of the heirs to the Agnelli family that has owned Juventus since the early 20th Century, released a lengthy letter to investors today.
It included a message on Juventus, as Exor own 63.77 per cent of the football club.
“On the commercial side, Juventus’ revenues grew to €621 million (€505 million in 2018, +23%) and its diversification strategy continued with the opening of the J-Hotel (the first hotel structure in Italy built in collaboration with a football club) and the opening of a branch in Hong Kong to increase its exposure to the Asian market,” wrote Elkann to shareholders.
“The club now has 420 million supporters worldwide. This number is strengthened by its digital audience, with 41 million on Facebook, 38 million on Instagram, 11 million on Twitter, 2.6 million on YouTube and 2.6 million on SinaWeibo.
“We invested in Juventus this year by underwriting our entire portion, equal to €191 million (63.8% of the share capital) of the fully subscribed capital increase of €300 million. This year the club also issued a €175 million bond, the first unsecured senior bond issued by a football club.
“With its newly-strengthened balance sheet we believe that Juventus is well positioned for a more sustainable future in an industry in which the extraordinary revenue growth of the last decade has not been translated into sufficient profitability.
“Juventus also starts the next stage of its journey with a strong position in European 10 football. For the fourth year in the row it has been the fifth club in UEFA’s official ranking and it is the only Italian club to have been consistently placed in the top 10 for the last 5 years.
“It will continue to work with other teams and institutions under the strong leadership of its Chairman, Andrea Agnelli, who also chairs the European Club Association, to secure a sustainable future for the most popular sport in the world.”