Andrea Agnelli: Worst ever Juventus balance sheet but no effect on winter signings – Serie A Update
Juventus President Andrea Agnelli has revealed that this year’s annual balance sheet will be the worst ever in the club’s history. However, Agnelli believes that this would not have much effect on the upcoming transfers, and Conte will have enough
resources to acquire the players he wants at Turin.
According to media reports, the Turin giants lost more than 95 million Euros during the 2010/11 season. La Vecchia Signora are now under huge debts and will take cost saving measures. Agnelli claims that construction of the new stadium is one of the
biggest reasons of having such a huge debt.
However, the President believes that revamping of the club was also one of the major expenditures last term, as the club had failed to give a good output for three consecutive years.
During the summer transfer window, Juve went through major changes in the squad and the coaching position was given to a former Juventino, Antonio Conte.
The President was recently talking to Corriere dello Sport, where he said:
"It is an intolerable financial loss but it is the result of the desire to maintain a competitive Juve. The drop in figures will not affect the club’s investment in the squad," he told shareholders.
"Within the context of our five-year plan, we have identified the need to invest in players and, as long as we can meet a series of objectives contained in the plan, the fall in this year's balance sheet will not affect investment in players,” concluded
the Bianconeri chairman.
Juventus is one of the most successful European clubs having won 27 Italian Serie A titles and 2 Champions League crowns. However, they have seen hard times lately; first the Calciopoli scandal that got them relegated to Serie B, and recently, two
consecutive 7th place finishes in Serie A kept them out of European competitions.
However, now under the coaching of the former Juve midfielder, Conte, the new Bianconeri look strong enough to make a strong bid for the Scudetto and also make a comeback in the European competitions.
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