Juve, younger and less spending: the turning point

TURIN – The 250 million hole was expected and foreseeable at Juventus, given that the 2021-22 budget still suffered from the Covid effect, with the stadiums only partially reopened in the season finale, and from the expenditure for the previous transfer campaigns, to start with the residual costs of Cristiano Ronaldo. Since summer 2021, with the arrival of Maurizio Arrivabene in the role of CEO, the Juventus club has launched a new course based on the spending review and is working on sustainability. The watchword is to cut costs, as well as obviously increase revenues, but on this aspect things are slower due to the global crisis dictated by the war and the energy crisis.
80% of Juventus’ expenditures concern the amortization of players and the amount of wages: the new management has concentrated on these two points with the aim of reducing losses by 50% in 2022-23, reaching a red acceptable (i.e. under 10 million euros) in 2023-24 and perhaps from 2024-25 to return to breathe. This does not mean giving up the purchase of the big players: the champions will continue to be bought, but alongside the champions it is necessary to raise the boys from the nursery (it is the project of the second team, or Next Gen), which cost nothing (indeed, the club earns from their sale) and have a more affordable salary, while ensuring a high technical level if they want to aspire to move up to the first team.

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The mount of salaries

Another margin to work on is the middle class, or those reserve players who in past seasons had too high costs: there have been games in which the bench weighed – as gross salaries – for over 50 million. Just think of Ramsey (10.5 million gross) or Bernardeschi (7.6), two of the Bianconeri who left in the summer. And in the past two months, the turning point has been made with the reduction of the wages: the salaries of the new arrivals amount to 56 million gross, but Juventus has saved 76 million from the players they sold. In total, the team at Massimiliano Allegri’s disposal has gross salaries of 158 million, down by about 20 million compared to a year ago. Obvious repercussions of the new course are also had on the weight in the balance sheet of the players registered with the Juventus club: after the closure of the summer transfer market there was a -33 million compared to the start of the 2021/22 season. The squad of the club currently costs (less than interventions on the January market) just over 278 million, a clear drop compared to the 311 million of last season.

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Revenues

In terms of revenues, the first item to return to growth this season will be that of the stadium. In 2018-19, the last pre-pandemic year, stadium revenues had reached 83 million, 62.5 million related to matches and 20.8 million related to the extra field. They dropped to 54 million in 2019-20, when the facilities closed at the end of February 2020 due to Covid, and last season the impact of the Allianz Stadium was just 7.1 million. The total reopening of the stadium, especially in the Champions League matches that guarantee exhaustion, such as the big matches of Serie A, as well as the return of subscribers will make it possible to recover ground and increase turnover. Then, of course, the focus will also be on merchandising and marketing: the tour in the United States also had the aim of impacting the American world in order to increase the visibility and value of the brand. Increasing revenues also has a value on the parameters of the new UEFA rules which from the 2025-26 season will limit the possibility of spending to 70% of the amount collected.

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Juve, younger and less spending: the turning point


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