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Juventus Board of Directors set for a meeting to approve 2022-23 financial report
Tomorrow, the Juventus Board of Directors will convene to approve the financial report for the 2022-23 fiscal year, reports Tuttosport.
The entire team, who was appointed in January following the resignation of the previous Board, will gather at the Continassa to govern the club for the next three years.
The budget, which has been managed by the new executives just this year, is expected to show a deficit of around €115 million. While this is a significant amount, it is still an improvement compared to last year’s deficit of €239 million.
The reduction in the deficit can be attributed to cost-cutting measures and increased revenues, primarily due to the return of full-capacity matches at the Juventus Stadium.
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However, going forward, the implementation of sustainability policies will need to take into consideration the absence of UEFA revenues in the next financial report. Over the past decade, these revenues have contributed approximately €80 million per season.
The financial situation of Juventus has been a topic of concern for some time, and the new Board of Directors has been working diligently this year to address these challenges.
Their efforts to control costs, increase revenues, and establish a more sustainable financial framework have started showing promising results.
It is crucial for the club to continue this positive trajectory and find innovative ways to generate revenue streams in the absence of traditional sources such as UEFA revenues.
By diversifying income streams and focusing on long-term stability, Juventus can secure a more prosperous future.
The upcoming Board meeting will not only focus on approving the financial report but also on discussing strategies to further improve the club’s financial position.
This includes exploring partnerships, expanding international markets, and investing in youth development to secure a strong and sustainable future for Juventus.
Overall, while there is still work to be done, the efforts made by the new Board of Directors have already made a positive impact on the club’s financial health.
By continuing to prioritize sound financial management and strategic planning, Juventus can navigate through these challenging times and emerge stronger than ever.
