Exor, the holding that controls Juventus, didn’t waste any time dismissing the reports about the sale of the club. The news started circulating on Monday, suggesting the side will change hands after repairing its finances, Il Giornale reports.
The team will remain in the red in the next balance sheet session. The ownership will be forced to pour money into the side for the third time in a handful of years.
According to the publication, Juventus specifically hired Cristiano Giuntoli to fix the numbers in the next few seasons. The process won’t be easy or short. The end game is to offload the outfit. On top of being no longer economically sustainable, the recurring scandals and legal troubles are contributing factors. Its valuation will be no less than €1.5B.
Exor shot down the rumors with a statement to news agency Ansa.
“The hypothesis put forth by a newspaper about the sale of Juventus are unfounded.”
The Agnelli family has owned the Old Lady for over 100 years. Murmurs of this vein have popped up here and there. The heirs of Gianni reportedly received the mandate to hold on to it in his will.
Our Take on Juventus
Similar rumblings are nothing new, but unless the situation is direr than imagined, it wouldn’t be the right time to get rid of a distressed asset.
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