December 4, 2022

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“Juventus’ balance sheet is inconsistent”

A report from the stock exchange supervisory body highlights maneuvers for maintaining balance sheets in the Covid period

Head to head between collision Juventus and Consop in case of capital gains. In fact, the stock exchange watchdog argued in the report signed by the president Paolo Savonathe result of the inspection in July 2021, which a “Financial statements in June 2021” from the Bianconeri does not “comply with the rules governing its formulation”. The Turin club reacted harshly, and the response point by point made him know it “The company will evaluate the procedures to protect its rights with the competent judicial authorities.”

According to a Consop report, Juventus had taken over Maneuvers to save budgets during the Covid period. In particular, “a declaration of non-compliance with international accounting standards and additional information … shall be submitted in other documents targeting the market in which accounting data relating to financial statements are reported on June 30, 2021.”

The clash between Consop and Juventus goes, the press explains, From capital gains, chemical accounting operations with no cash content, to so-called “salary maneuvers”. In particular, the ‘estimates provided’ on transactions involving player engagements were found to be based exclusively on outflows associated with individual players. As for inflows resulting from players’ athletic performance, the company has limited itself to stating that future revenue will inevitably be affected not only sports performance but also other revenue items.” “This way – he continues – Juventus and its counterpart have only officially acquired the rights to sports offers in exchange for the monetary consideration indicated in the contract.. Suspicious cross operations of the inspectors.

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On the contrary, Juventus explains, in entering into the merits, that “the possible effects of the results raised by Consop will be null and void in cash flows and net financial debt, from prior years and the year just ended”. And again: the results regarding the economic and inheritance plan that, according to the Juventus consultant, will be “beeped” over the five-year period for cross operations and over the four-year period for salary maneuvers.