Serie A: Juventus report losses of 89.7 million euros; announce new organisational structure
The nine-time reigning Serie A champions reported a deficit which included the 39.9m euro shortfall from the previous financial year.
Juventus recorded losses of 89.7 million euros ($105 million) for the financial year to June 30, the Italian league champions announced on Thursday.
Club president Andrea Agnelli chaired the Ordinary Shareholders' Meeting in Turin through video conference because of the coronavirus pandemic.
And the nine-time reigning Serie A champions reported a deficit which included the 39.9m euro shortfall from the previous financial year.
"The Ordinary Shareholders' Meeting approved the financial statements as of 30 June 2020, reporting a loss of 89.7 million euros (compared to a loss of 39.9 million euros in 2018/2019), which was covered by using the share premium reserve," Juventus said in a statement.
The Turin giants also announced a new organisational structure with Federico Cherubini taking over as new football director.
Juventus' "new organisational structure envisages the concentration of the club’s activities in two macro-structures: the Football Area and the Business Area".
"Federico Cherubini assumes the role of Football Director, directly reporting to Fabio Paratici, who maintains the direct responsibility of the First Team," the team added.
It was a sixth straight Serie A win for Stefano Pioli's side on the day Milan announced they had halved their losses to 96.4 million euros ($111.8 million).
The news of Mussolini's rise to the first team comes after Juan Bernabe, the handler of the club's eagle mascot, was filmed making fascist salutes and chanting "Duce, Duce" at the end of the win over Inter Milan.
Stefano Pioli's unbeaten Milan are a point ahead of Napoli, who travel to Roma on Sunday hoping to maintain their 100 percent record so far this season