Juventus will ask shareholders to approve a capital increase of up to €250m ($283m) after reporting a larger annual loss and warning that it expects to remain loss-making in the current fiscal year.
The Serie A club said on Tuesday that its board would be authorised to issue new shares, either in a single operation or in several tranches, by the end of 2026.
Juventus said the fundraising would reinforce its equity position, help maintain its sporting competitiveness and support possible improvements to strategic real estate assets, including its Turin stadium. It also said the measure would contribute to the club’s financial sustainability.
Exor, the Agnelli family’s holding company and Juventus’ controlling shareholder, has committed its support for the capital increase. It will immediately provide the club with €60m.
Exor owns about 65% of Juventus’ shares.
The announcement came as Juventus reported a loss of €66m for the year ending 30 June, compared with a loss of €58.1m in the previous financial year.
The club said it expects to record another loss during the current fiscal year after failing to qualify for this season’s UEFA Champions League. However, Juventus forecast “progressive improvement” over the following two years.
Investors have provided about €1bn to Juventus over the past seven years. The club’s last annual profit came in the 2016-2017 fiscal year.