Juventus collapses on the stock market after the failure of the Superlega project. On Wednesday 21 April, the title of the Juventus club lost the 13,7% in Business Square (here the market trend in real time) at € 0.753 per share. After the rally two sessions ago, in which the company’s shares jumped more than 18% to € 0.911 per share with the announcement of the Super League project, the difficulties encountered by the deal led to strong sales. The stock had also lost on the stock market on Tuesday.
The teams involved
Just the news of thecompetition agreement on Monday, he had shares jumped 17.85% to a high of € 0.9195 per share (€ 0.911 at close) and a € 200 million increase in market capitalization. With Wednesday’s decline, which adds up to -9.74% on Tuesday, the stock has substantially eliminated Monday’s gains. After the official retirement of the six English clubs initially involved (Liverpool, Manchester United, Manchester City, Arsenal, Chelsea and Tottenham), the organizers have explained that they want to reconsider the most appropriate steps to reshape the project.
The red accounts of Juventus
Meanwhile, the pandemic weighs on the accounts of football clubs. There Juventus (which has an annual financial year that does not coincide with the calendar year, but covers the period 1 July – 30 June) closed the first semester July-December 2020 with 113 million loss and revenues down 19.9% year-on-year to € 258.3 million. The national and international scenario of the first half of the 2020/2021 financial year – reports the Juventus club in the half-year report – continues to be characterized by the impacts caused by the Covid-19 pandemic and the consequent restrictive measures for containment imposed by the administrative authorities, health and sports. In any case, Juventus closed the first half of the year with a loss (of 50.3 million).previous year, when Covid had not yet arrived in Italy.
The negative balance sheets of the Super League teams
In the Sseason 2019-2020 the teams belonging to the Superlega totaled a total loss of 738 million euros. Of the 12 founding clubs, he notes Kpmg Football Benchmark, nine have closed the budget in the red, Real Madrid in substantial balance (0.3 million) and only Chelsea in profit (45 million) while the results of Liverpool are not yet known. The Milan, in red for 194.6 million, he suffered the greatest losses, ahead of Manchester City (143.5 million) and Inter (102.4 million). The economic model of European football has become increasingly unsustainable, he notes Andrea Sartori, Global Head Sports of Kpmg, on the website of the consulting firm. Despite UEFA’s financial fair play regulations, the industry has failed to properly control club costs, especially wages, with inflated player compensation, coupled with rising transfer costs and agent commissions, which have put club finances under significant pressure.