The financial importance of the “playoff” Juve-Napoli for a place in the Champions League it is huge, as Covid has eliminated revenue sources such as ticketing and limited player trading profits. Missing the target would have devastating consequences for the bianconeri, less serious for the Neapolitans, for several reasons. Juve’s income statement was in difficulty even before Covid, with a cost of the squad in 2018/19 almost equal to the operating turnover (451 million the cost of salaries and depreciation on 464 of turnover). The massive machine of capital gains and loans (154 million in 18/19 and still 167 in 2019/20) was grinding revenues to cover other operating costs, often without quite succeeding.
Here’s how much Juve would lose without Champions
In the decade 2010-2020 the Juventus club has accumulated 266 million in losses, however, realizing a notable rise in share value, interrupted only by the pandemic. While, in fact, the operational machine absorbed cash, the status of the club was increased by the value of the squad, the sporting successes, the international recognition of the brand and the number of followers. The last step to project Juve into the circle of the international top was CR7 which he requested, however oversized investments (360 million in 4 years) compared to the current turnover pool. The bet was that Ronaldo would give further impetus to business value, but Covid has upset the plans. In Juve’s business model, Champions League revenues have always played a fundamental role: between 2012 and the current season, nearly 650 million, on average 80 per year. Certain revenues, collected immediately essential oxygen for the Bianconeri finances which, even in 2017 (year of the Cardiff final) were supported by 110 million in premium, more than the Real champion. In the last two participations, interrupted in the second round, the prize was still around 75-80 million, so the gap with the Europa League would be huge.
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