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Juventus post loss of almost €210 million due to COVID-19

Juventus on Friday reported a loss of 209.9 million euros ($246 million) in the year to June 2021, up from 89.7 million the previous year, blaming the impact of the coronavirus pandemic.

The continued spread of Covid-19 had a “significant, direct, negative impact” on revenues, notably from the lack of ticket sales and products, the club said in a statement.

Some of this and other losses were however partly offset by higher income from broadcasting rights from matches postponed from 2020.

Juventus said in August the board of directors had approved a capital increase of 400 million euros to steady the club’s finances against the impact of the pandemic.

Coronavirus has hit club finances all over Europe, but according to finance company Deloitte, revenues in Serie A for the 2019/20 season were down 18 percent, the biggest drop of the continent’s top five leagues — England, Spain, Italy, Germany and France.

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