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Juventus Football Club SpA will seek to raise as much as €200 million ($212 million) of new equity from its shareholders after the storied Italian team posted another annual loss.
The club lost €123.7 million during the fiscal year that ended June 30 and expects a first-quarter loss exceeding a third of its share capital, Juventus said in a statement late Friday.
To replenish, the company approved a capital raise that will be backed by the Agnelli family’s holding Exor NV, which owns a 64% stake.
The move was decided "to support the achievement of the plan’s objectives, and also taking into account the impacts -in the current and previous financial year - deriving from the outcomes of the Italian and international sport proceedings,” according to the statement.
Italy’s football federation this year penalized Juventus for accounting irregularities, deducting points in the Serie A standings that helped keep the club out of lucrative competitions such as the European Champions League.
