11th September, 2023
Exor, the prominent holding company that owns Juventus, is reportedly exploring the possibility of putting the Serie A club up for sale.
Italian daily, Il Giornale, revealed this in a report published on Monday.
Exor, which is under the control of the Agnelli family and is listed in the Netherlands, has reportedly deemed Juventus’s recent financial results “no longer sustainable.”
Additionally, the holding company has expressed embarrassment over the club’s ongoing legal issues, according to Il Giornale.
The report indicates that Exor envisions undertaking measures to rectify the financial accounts of Italy’s historically successful team before seeking potential buyers.
It is believed that Exor aims to list Juventus for sale at a valuation of at least €1.5 billion ($1.61 billion), as Il Giornale further noted.
Juventus faced a significant setback recently when it was banned from participating in UEFA competitions for the current season.
This ban was imposed following the club’s seventh-place finish in Serie A last season, which resulted from a 10-point deduction stemming from alleged false accounting practises.
Notably, this is not the first time that speculations regarding the sale of Juventus under Exor’s ownership have arisen. In May, a spokesperson for the company told Reuters that Exor’s commitment to the club “remains unchanged.”
As the deliberations surrounding Juventus’s future unfold, the Serie A club’s fate remains uncertain, and the potential sale would mark a significant development in the world of Italian football and business.
Reuters/NAN