Connect with us

News

Andrea Agnelli full letter to Juventusʼ shareholders

Max Statman

Published

on

The president of Juventus, Andrea Agnelli , entrusts his thoughts on various issues in the Juventus world to a letter addressed to the club’s shareholders.

Below is the full text of the letter, published today on the official website of the club: “Dear Shareholders, the victories of the last 10 years have been accompanied by an extraordinary development of the Company in terms of revenues, affirmation of the brand in the global and infrastructural panorama. (Stadium and Village), sports planning (Women and U23) and organic.

“I am convinced that Juventus have today, the characteristics suited to meet future challenges. It is fair to point out, however, that in the moment of maximum tension towards the development , with massive financial means made available to the Company, thefootball and Juventus in particular have suffered a severe blow due to the Covid-19 pandemic.

“The damage caused was enormous. Entire revenue lines disappeared overnight, while the cost base remained unchanged. The system’s overall liquidity shortage is estimated to amount to €8.5 billion.

Advertisement

“The empty stadiums for almost two years are the symbol of what has happened and their reopening must not distract from the limits that football has crudely revealed, exposing all its structural weaknesses.

“Football, accustomed to growing in the last twenty years. in double digits in a totally inelastic way with respect to all the crises that hit the economy and society in the same period, it has developed an excessive confidence within itself which has translated into an excessive confidence in risk.

“The crisis also interrupted the constant growth in the overall value of transactions for the acquisition and sale of servicesof the players (around -50% in 2021 vs 2019), who for many clubs had become a relevant component of the business model to mitigate the sporting risk, which in our industry coincides with the economic-financial risk .

“The overall instability and therefore weakness of the football sector cannot, and must not, be attributed exclusively to the pandemic.

Advertisement

“The large football institutions , which at the beginning performed the function of independent third parties and guarantors of the correct application of the rules, have gradually added to the role of regulators that of organizers, brokers, distributors of the football product and finally earners and distributors of the proceeds.

“The sound and credible planning of a club cannot be based on obsolete system scaffolding , on pain of the collective downsizing of the sector, that is to say the least desirable for football, the most popular sport in the world.

“For years, moreover, we have been talking about Generation Z , its values, its needs. The world after Covid-19 belongs to this new generation which now oscillates between 12 and 21 years of age. Football must remain central in his free time, in his mix of interests. The opportunities provided by the digital revolution can certainly help bring these young people closer together .

“In this sense, the debate and criticism on theuse of “live” games with means other than traditional TV are anachronistic and destined to disappear. In the digitalized world, the user has an enormous power of choice, which cannot be ignored and, therefore, he will choose according to his own inclinations and the values ​​that represent him.

Advertisement

“This is not the right place to go back to the causes of the birth of the Super League , but it is appropriate to take into account the fact that this new competition, which aims to offer the world the best football show , has in its regulations three essential values ​​for the stability of the football industry:

(i) A new shared framework for cost control , which contributes, contrary to what has been stated even in authoritative forums, to the competitive balance of competitions ;

(ii) A strong commitment to solidarity and mutuality.

( iii) The centrality of the performance of clubs in European competitions and their contribution to the development of talents as founding elements of a new concept of sporting “meritocracy” (a concept that cannot be based exclusively on domestic performance in accordance with geopolitical and commercial balances which should remain extraneous to the essence of sport).

Advertisement

“In summary: a new merit-based paradigm and a return to the fundamentals : cost control and transparency, with three categories of stakeholders at the center of the project:

(i) Fans, who dictate the demand for the product;

(ii) Players, the protagonists of the shows – both for club and national competitions;

(iii) Investors, who assume all the entrepreneurial risk of the football industry: a new paradigm that football can not continue to neglect and on the basis of which political dialogue will have to resume.

Advertisement

Nothing should be taken for granted, everything can be improved, rethought, as Edoardo Agnelli saidnow almost a century ago: “We must commit ourselves to do well, but remembering that something done well can always be done better.

“Football is the most popular sport in the world, the black and white colors, like those of many other clubs, have always participated in this show. It is the precise duty of those who represent the Company to guarantee the utmost professionalism, commitment and integrity so that Juventus can keep faith with its history.

“Juventus will be there and the support of my family , for almost a century now, is the most tangible testimony and the best guarantee to continue to play a leading role in the great spectacle of football: sharing the same passion with hundreds of millions of fans around the world.

“Until the end, Andrea Agnelli.”

Advertisement
x

Max Statman is a reliable and trusted reporter known for his insightful coverage of Juventus and Italian football. With a keen eye for detail and a passion for delivering accurate news, Max has established himself as a go-to source for fans seeking the latest reliable updates on their favorite club as well as stats.

Advertisement
Comments
Advertisement
Advertisement

MORE NEWS

Analysis10 hours ago

Juan Cabal profile and performance in the 2023/24 Serie A season

Juan David Cabal Murillo is a name that has rapidly ascended the ranks of European football, particularly after his impressive...

News11 hours ago

Juventus set to close fiscal year 2024 with increased losses

Juventus is bracing for a significant increase in losses for the fiscal year ending June 30, 2024, as compared to...

Mercato11 hours ago

Juventus completes Cabal signing, beating out Inter

Juventus has reached agreements to sign Colombian defender Juan David Cabal from Hellas Verona, securing the player ahead of rivals...

News13 hours ago

Juventus still haunted by ghosts of past in plusvalenza case

The ghosts of Juventus’ past continue to haunt the club as prosecutors in Rome have requested that Andrea Agnelli, Pavel...

Mercato13 hours ago

Juventus swoops in to steal Cabal from Inter’s grasp

In a twist of events that has left Inter fuming, Juventus has snatched Hellas Verona defender Juan Cabal from their...

Mercato16 hours ago

Three clubs battling to sign Matias Soule

The future of Juventus winger Matías Soulé is edging closer to a resolution, with Premier League clubs Leicester City and...

News16 hours ago

Juventus set to hand iconic No. 10 jersey to Kenan Yildiz

The talk of the town in recent hours has been the potential assignment of the prestigious No. 10 jersey to...

Mercato17 hours ago

Round-up: Three clubs on Kostic, Nicolussi Caviglia hesitating and Szczesny’s exit imminent

There’s growing interest in Hans Nicolussi Caviglia. The latest club to inquire about the young midfielder is Lecce, looking for...

Mercato18 hours ago

Juventus scrambles for wingers after transfer setbacks

Juventus have looked for a change of wingers as Thiago Motta has come in and is looking to start his...

Mercato21 hours ago

Cristiano Giuntoli next signing revealed as personal terms already in place

Juventus are reportedly keen on making Jean-Clair Todibo their next signing following the arrivals of Douglas Luiz and Khephren Thuram....

News21 hours ago

Juventus set to make decisive move for Teun Koopmeiners

Juventus and their director Cristiano Giuntoli are laser-focused on securing the signature of Teun Koopmeiners, their top midfield target for...

Mercato22 hours ago

Dortmund makes decision on Karim Adeyemi amid Juventus interest

Borussia Dortmund appears to have changed its stance on the future of winger Karim Adeyemi, according to Bild. After previous...

Mercato23 hours ago

Italian journalist reveals Federico Chiesa’s most likely destination

Manchester United are emerging as the frontrunners to secure the services of Federico Chiesa from Juventus. The Italian winger has...

Mercato23 hours ago

Bologna digs their own grave by blocking Calafiori move to Juventus

Bologna are reportedly keen to strengthen their squad with Juventus duo Arkadiusz Milik and Daniele Rugani. However, the strained relationship...

Mercato23 hours ago

Juventus interested in Albert Gudmundsson but faces tough competition

Juventus have joined the race for highly-rated Genoa forward, Albert Gudmundsson, according to transfer expert Gianluca Di Marzio. The Icelandic...

News1 day ago

All you need to know about expanded FIFA Club World Cup as Juventus confirms participation

Get ready for a revamped FIFA Club World Cup, set to take the world by storm in the summer of...

Mercato1 day ago

Monza CEO Galliani reveals Giuntoli’s masterclass in signing Di Gregorio

In a press conference, Monza’s CEO Adriano Galliani provided insights into the club’s summer transfer activities, addressing speculations around high-profile...

Mercato2 days ago

West Ham player linked to Juventus in a shocking swap deal with Arthur

Juventus is eyeing West Ham United’s Konstantinos Mavropanos for surprising reasons. Despite being a key part of Julen Lopetegui’s plans...

News2 days ago

Thiago Motta first press conference with Juventus scheduled

Date: Thursday, July 18, 2024 Time: 2:00 PM CET Location: Allianz Stadium, Conference Hall What to Expect Thiago Motta will...

Mercato2 days ago

Adrien Rabiot’s potential destinations revealed

Adrien Rabiot has been a free agent, a coveted commodity in the footballing world. The French midfielder, after three years...

Mercato2 days ago

Erik ten Hag comments on Jadon Sancho future amid Juventus interest

Jadon Sancho’s future at Manchester United took an unexpected turn as manager Erik ten Hag reintegrated him into the first-team...

Analysis2 days ago

Juventus target Karim Adeyemi compared with Federico Chiesa and Matias Soule

Juventus are interested in Borussia Dortmund winger Karim Adeyemi. He is a pacey player who uses technical flair to help...

News2 days ago

Juventus unveils new home kit but set an unwanted record

Juventus has unveiled their new home kit for the 2024/25 season, marking an unexpected and unwanted record due to the...

News2 days ago

Kenan Yildiz poised to inherit Juventus’ no. 10 jersey amidst Paul Pogba’s uncertain future

Today marks the day that Kenan Yildiz could officially become Juventus’ new No. 10, following a flurry of rumors in...

News2 days ago

First official images of Juventus home kit for the 2024/25 season

Juventus will unveil their new home kit for the 2024/25 season today, marking a significant step towards the upcoming football...

Koopmeiners Juventus transfer news Koopmeiners Juventus transfer news
Mercato2 days ago

Juventus confident to sign Koopmeiners thanks to a game-changing promise

Teun Koopmeiners is a transfer target for Juventus, who are currently prioritizing selling players to raise funds for new signings...

Mercato2 days ago

Juventus eye potential Chiesa-Raspadori swap deal but faces two obstacles

Federico Chiesa’s time at Juventus appears to be drawing to a close, with reports suggesting a swap deal with Napoli...

Mercato2 days ago

Tiago Djalò hints about his future at Juventus

Tiago Djalò joined Juventus in January 2024, but his initial months were marked by limited opportunities. His official debut for...

Mercato2 days ago

Paris Saint-Germain making progress on signing Dean Huijsen from Juventus

Juventus defender Dejan Huijsen is reportedly on the verge of a move to Paris Saint-Germain. The 19-year-old has been linked...

Mercato3 days ago

Juventus prepared to sell more than five players to fund one transfer

Juventus sporting director Cristiano Giuntoli is determined to reshape the squad for the upcoming season. To achieve this, he has...