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.
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.