The Financial Situation (74 Viewers)

[Strickland]

a pretty good summary of the available info on jj's finances. it lacks "fuck fagiot" and similar level of tuz insights so might not fit anyone's taste

fuck fagiot is the way out of this one. keep the guys with resale value like Chiesa, Bremer, Vlahovic, Locatelli + few of the veterans that earn their salary like Danilo, Kostic + young bucks and whoever is willing to play for 1-2m / year or less (which is the salary for 90% of players in Serie A) and fuck off everybody else by any means necessary - sell, terminate, donate, I don't care. including Allegri. fingers crossed that team makes CL, but then again how much are we really going to miss Woj, Sandro, Pogba, Rugani and the likes, will the jabronis be that much worse than them? Rabiot is the only one we'd miss, but we can't afford the luxury of grossly overpaying a moody player that doesn't give a fuck most of the time.

and then, after we've stopped throwing 70-80m down the toilet every year, figure out which of the guys with resale value you still need to sell to plug the remaining financial hole.

 

Buy on AliExpress.com

[s4tch]

fuck fagiot is the way out of this one.

you missed the point. i wasn't advocating for keeping rabiot, i don't even like him, i also think he earns too much. having him for 5 years is one of the most blatant examples of juventus becoming jj

i was referring to the cringe level tuz is, but since you seem to adore xperd's dumb novels about allegro and fagiot, you probably won't agree

 

[Xperd]

just cringe af

Old man being bitter as usual. Lighten up grandpa.

 

[s4tch]

Old man being bitter as usual. Lighten up grandpa.

and cringe again

find a tit to suck on or play with your tiny prick, kiddo

 

[Xperd]

find a tit to suck on or play with your tiny prick, kiddo

So so bitter. Take your meds old man. You seem to be picking fights with a lot of people lately.

 

[s4tch]

So so bitter. Take your meds old man. You seem to be picking fights with a lot of people lately.

thanks for the advice, i'll consider it

now fuck off

 

[Strickland]

you missed the point. i wasn't advocating for keeping rabiot, i don't even like him, i also think he earns too much. having him for 5 years is one of the most blatant examples of juventus becoming jj

i was referring to the cringe level tuz is, but since you seem to adore xperd's dumb novels about allegro and fagiot, you probably won't agree

Just wanted to say that overspending on wages is largely the problem for half a decade now and also the obvious solution, so fuck fagiot, yeah.

But you're right, I do enjoy Xperd as a poster, he's very good. I also appreciate Turk. However dont get me wrong, it doesnt mean I dont respect you or dont like you, you're a quality poster and rarely wrong about stuff, even if deep down you still have feelings for Allegri

 

[Turk_Bianconero]

80 - 35 = 45.

i know that much. why though?

 

[s4tch]

i know that much. why though?

that's how accounting works. long story short, plusvalenza = sale price minus book value, and that's exactly what 80-35=45 represents

 

[Mark]

can we buy Mbappé now?

 

[.zero]

can we buy Mbappé now?

No.
But We can buy Jonathon biabany now

 

[Mark]

No.
But We can buy Jonathon biabany now

well that sucks!

 

[.zero]

€124m loss

To think that at one point the club was competitive and the books were in the black

 

[.zero]

 

[JuveJay]

(€900m in 5 years)
Fucking Elkann the Napoli supporter.

 

[.zero]

Juventus have published their accounts for the 2022/23 season, which was disappointing for a number of reasons. We’ll get round to the finances later, but before that we need to address the veritable plethora of damaging off the pitch issues faced by the “Old Lady”.
Legal Issues

After the Italian Football Federation (FIGC) brought charges against Juventus for financial irregularities, the club’s board of directors resigned, including chairman Andrea Agnelli, vice-chairman Pavel Nedved and chief executive Maurizio Arrivabene.
The club has actually had to deal with two separate legal cases: the first one involved over-stated capital gains via inflated player trading values, while there was also another one with allegations of false accounting involving salary “manoeuvres”.
Transfer Deals

Juventus were accused of boosting profits from player sales (“plusvalenza”) with the FIGC raising concerns about no fewer than 42 transfers. This included swap deals, where both clubs apparently inflated the price to be used in the accounts, so they could each book higher gains.
Salary Manoeuvres

Following huge revenue losses caused by COVID, Juventus announced that their players had given up four months of wages, whereas in reality the club had committed to pay three of those months at a future date.
Accounts Restatement

This resulted in Juventus restating its accounts for two years, increasing the 2020/21 loss by €17m, but reducing the 2021/22 loss by €15m. Most damningly, the FIGC said, “The financial statements are simply not reliable.”
Points Deduction

As a result of these legal issues, Juventus suffered a 10-points penalty, which was enough to drop them from third to seventh in Serie A. Without this points deduction, they would have qualified for the Champions League.
In addition, the club accepted a fine of €718k as part of a plea bargain agreed with the FIGC. This at least drew a line under the scandal, which allowed Juve to move forward without the threat of further sporting sanctions hanging over them.
UEFA Punishment

UEFA also punished Juventus for breaches of the August 2022 settlement agreement by excluding them from Europe in 2023/24 and fining them €20m (though €10m was made conditional, depending on whether the club met future financial targets).
Juve waived their right of appeal, which made sense, as it means they only lose Europa Conference League money this season, as opposed to potentially missing out on the far more lucrative Champions League.
Recent Issues

To add to Juve’s woes, their former star player, Cristiano Ronaldo, has recently taken legal action against the club over €19.5m unpaid wages (linked to the salary manoeuvres case).
And to prove that it never rains, but it pours, Paul Pogba has failed a drugs test, so his Juve career is in the balance, though from a purely financial perspective this could give the club the opportunity to terminate the misfiring French midfielder’s contract with a big salary saving.
Profit/(Loss) 2022/23

Juventus’ 2022/23 accounts cover a season when they finished 7th in Serie A (following the points deduction) and reached the semi-finals of the Coppa Italia. In Europe, they were eliminated at the group stage of the Champions League, dropping down to the Europa League, where they got to the semi-finals.
Their pre-tax loss more than halved from €237m to €117m (€124m after tax), as revenue rose €46m (11%) from €414m to €460m, partly due there being no more COVID impact, while profit on player sales increased €19m (67%) from €28m to €47m.
In addition, operating expenses were cut by €58m (9%), though net interest payable increased €2m (14%) to €18m.
The club noted that the loss would have been further reduced by around €23m without the adverse impact on revenue and costs of the various legal issues, both Italian and international. It quantified the total reduction as €115m, split 20% in 2022/23 and 80% (€92m) in 2023/24.

The removal of all COVID restrictions in the stadium meant that Juventus’ ticket sales increased €29m (90%) from €32m to €61m, while commercial also rose €19m (10%) from €200m to a new club record of €219m. In addition, player loans almost doubled from €12m to €23m.
However, broadcasting fell €13m (8%) from €170m to €157m, mainly due to lower receipts from UEFA competitions.

As a technical aside, this international definition of Juventus’ €460m revenue is different to the one used in the club accounts, which also includes €47m gain on player sales, giving revenue of €508m, which increased €64m (14%) from prior year’s €443m.

Juventus made a great effort to cut costs, as their wage bill dropped a sizeable €55m (16%) from €337m to €282m, while player amortisation (including write-downs) fell €14m (8%) from €173m to €159m. In addition, depreciation/other provisions decreased €3m, but other expenses grew €14m (11%) to €145m.
There are two ways of looking at Juventus’ 2022/23 financial results: on the one hand, there has been a substantial reduction in the deficit; on the other hand, the pre-tax loss was still huge at €117m and also one of the largest in Italy.

 

[j0ker]

I thought our wage bill is 75.1 million net (121.4 million gross) according to Calcio e Finanza.

 

[s4tch]

thanks for sharing. stopped following this guy because of the very rare and small added value that he usually brings. i've seen enough financial statements to come up with similarly insightful comments at first sight like "broadcasting fell €13m (8%) from €170m to €157m, mainly due to lower receipts from UEFA competitions" thanks sherlock, your hard work is really appreciated

this is still well put:
There are two ways of looking at Juventus’ 2022/23 financial results: on the one hand, there has been a substantial reduction in the deficit; on the other hand, the pre-tax loss was still huge at €117m and also one of the largest in Italy.

exactly. and this is the double faced nature of jj's finances. on one hand, there's the heavy heritage of some unsustainable recruiting strategy (also known as ticiconomics) that was only amplified by the covid effects. we still have like a dozen of players who are virtually impossible to move, and who are on extremely high wages when it comes to their price to performance ratio. and on the other hand, there's an ownership that - according to tuz at least - clearly doesn't care lol, but still saves the club's ass somehow. and that doesn't happen via gds front pages like in inda's case, or not via some friendly help by the federation like in milan's case, but with actual $$$

elkann was quoted the other day saying that he didn't like the management of the last years of unibrow's reign (fully agreed), he'd rather have something like juventus had at the beginning of the previous decade. unless he meant secco, blanc and cobolli gigli lol, i'm all for establishing a new aa, marotta, conte kind of (again, not them, but some people like them) dedicated and competent management. jj was a failure, time to be juventus once again.

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I thought our wage bill is 75.1 million net (121.4 million gross) according to Calcio e Finanza.

calcioefinanza usually only list the first squad's wage bill. financial reports contain all the employee's wages, including managers, coaching staff, administrative personnel, and also include the other teams like women and next gen

 

[BIG DADDY!!!]

Authorities have doubts over Juventus financial statements – report
by Football Italia

The Italian Companies and Exchange Commission has reportedly uncovered some issues with Juventus’ financial statements for 2022.

A report from Corriere dello Sport via TMW details how Consob have seemingly discovered some ‘critical issues’ regarding the financial statements dated June 30, 2022, and December 31, 2022, which allegedly may not comply with international accounting standards.

Juventus have underlined their confidence that everything has been carried out correctly and that they’ll continue cooperating with the authorities, convinced that the law and rules have been followed.

Anyone hear anything about this are we going to be in trouble again?

 

[s4tch]

Authorities have doubts over Juventus financial statements – report
by Football Italia

The Italian Companies and Exchange Commission has reportedly uncovered some issues with Juventus’ financial statements for 2022.

A report from Corriere dello Sport via TMW details how Consob have seemingly discovered some ‘critical issues’ regarding the financial statements dated June 30, 2022, and December 31, 2022, which allegedly may not comply with international accounting standards.

Juventus have underlined their confidence that everything has been carried out correctly and that they’ll continue cooperating with the authorities, convinced that the law and rules have been followed.

Anyone hear anything about this are we going to be in trouble again?

a guy named fabrizio bava wrote about it on twitter. long story short, the issue lies in technicalities. ifrs/ias rules allow some flexibility, it's about the interpretation of those. just the usual which hunt as the financial report is audited. for instance the losses would be smaller if the club followed the consob remarks.

an other downside of being on the stock market is that the club has to deal with these fuckers. they never commented on lazio's financial reports, maybe we should hire their accountant ¯\_(ツ)_/¯