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Progress in Juventus finances

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There has been substantial progress in restoring the finances of Juventus reports the authoritative Swiss Rambler blog in a detailed analysis.

After a pre-tax loss of €10.9m last year, there was a small pre-tax profit of €0.1m.   Admittedly, this then became a large post-tax loss because of a perverse Italian tax which penalises companies with high personnel costs which seems to be a disenctive to employment.

A lot of the profit did depend on player sales, and the wage bill did increase, giving the club the highest wage bill in Italy.  On the positive side there was a rise in revenues, giving Juventus the highest revenues in Italy, but still well below those of other elite European clubs.