In a surprising turn of events, Juventus have reported a profit of 16.9 million euros for the first half of the 2024-25 fiscal year, marking a significant improvement from the 95.1 million euro loss recorded in the same period last year. This positive financial result comes at a time when the Bianconeri faithful are grappling with disappointment over the team’s recent Coppa Italia performance.
Gazzetta dello Sport report how while this financial news may offer little consolation to fans, the interim financial report approved by the board of directors is noteworthy for two key reasons. Firstly, it signals a reversal in the club’s economic management after the staggering 199 million euro deficit in the 2023-24 fiscal year. Secondly, it serves as a stark reminder to Thiago Motta’s squad of the critical importance of securing Champions League qualification for the upcoming season to continue the club’s financial recovery plan.
The impact of Champions League participation is clearly evident in the current season’s interim results, with UEFA prize money contributing 64.1 million euros to the bottom line. An additional 5 million euros is expected to be accounted for in the second half of the season. When combined with the 5.2 million euros generated from ticket sales, the Champions League’s financial significance becomes undeniable.
The improvement in Juventus’ financial position can be attributed to several factors beyond Champions League revenues. Cost-cutting measures and capital gains from the sale of young talents have played crucial roles, aligning with the objectives set for Cristiano Giuntoli’s management.
In the first half of the fiscal year, core revenues surged from 173.3 million to 224.2 million euros, driven by Champions League participation. This increase occurred despite a reduction in sponsorship income from 66.4 million to 48.2 million euros, following the departure of main sponsor Jeep. Operating costs decreased from 205.5 million to 193.4 million euros, primarily due to a 19.5 million euro reduction in salaries, partially offset by increased transfer market expenses.
Player trading revenues saw a remarkable increase to 67.4 million euros, surpassing the 34.2 million euros recorded for the entire previous fiscal year. This was achieved without selling key players, instead focusing on valorizing talents across Italy, such as Soulè, Huijsen, and Iling-Junior.
The financial report also reflects a sustainable approach to squad management. Despite significant summer investments totaling 154.2 million euros, amortization costs remained stable at 60.3 million euros midway through the season, thanks to player departures. Personnel costs for registered staff have also decreased, as evidenced by compliance with UEFA’s “squad cost rule,” which limits the ratio of squad costs to gross revenue to 80% for the 2024 calendar year.
Looking ahead, the board anticipates a “significant improvement” in results by June 30, 2025, compared to the 2023-24 fiscal year. The goal is to limit losses to 32 million euros, crucial for maintaining the club’s financial stability without triggering mandatory recapitalization.
While the early exit from competitions has impacted potential revenue streams, the club is exploring various avenues to compensate. These include realizing capital gains from player sales, potential loan-to-buy deals, and the June transfer window. The club’s management is also eyeing a new jersey sponsorship deal and anticipates revenues from the Club World Cup.
