Italian soccer club Juventus to raise €300 million via capital injection

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Italian soccer club Juventus to raise €300 million via capital injection

On Friday, the 20th of September 2019, Italian soccer club, Juventus FC, colloquially termed as Juve based on Turin, Piedmont, had issued a statement saying that the long-hailed soccer club with 35 Serie A trophies, 13 Coppa Italia titles alongside 2 UEFA Champions league crowns, was exploring an option to raise as little as €300 million through a capital increase.

In point of fact, latest Juve move was brought into light after the legendary Italian soccer club had posted a €39.9 million loss at its annual report for the financial year that ended on last June. Meanwhile, shareholders of Juventus, which won Serie A championship trophies for the last eight seasons in a row and spent €100 million last year to sign Spanish soccer club Real Madrid’s Portuguese left-winger cum striker, Cristiano Ronaldo, a living legend in football industry with five Ballon d’Or titles, and six second-place awards, would vote on the capital injection on October 14th.

Aside from that, Juventus said in its Friday’s (September 20th) statement that the soccer club’s top shareholder Exor, owned by a wealthy Agnelli family, appeared to be committed to buy into the capital hike pro-quota, while the legendary Italian soccer club had already signed a pre-underwriting accord with Goldman Sachs International, BNP Paribas, Mediobanca alongside UniCredit CIB to act as joint bookrunners for the capital raising campaign.

Nonetheless, despite Juve’s latest move to raise as little as €300 million in a near-term outlook, the Italian soccer club with 67 trophies at its golden-vault was expecting a loss in current financial year. Nonetheless, followed by the reveal of the statement, Milan-based Borsa Italiana SpA-listed shares of Juventus FC SpA soared 0.75 per cent to €1.41 per share in extended trading after nosediving as much as 1.42 per cent during pre-market trading.