After three years of turning a profit, Juventus announced a loss of €19 million for the 2017/18 season.
The board of directors approved the figure after seeing a negative change of €61.8m, as the Bianconeri had turned a profit of €42.6m last year.
Juve’s loss in the Champions League quarter-final was the main contributing factor, as last year’s balance sheet included the side’s trip to the final.
The club saw a €58m drop in revenue, along with higher amortization and depreciation on players’ registration rights of €25m.
That was offset by lower expenses from players’ rights of €30.4m, lower taxes of €6.6m and lower wages of technical staff costs of €2.8m.
Juventus’ net debt grew from €147.3m to €309.8m, and a loss is predicted for 2018/2019.
However, next year’s financial year will be strongly influence by the club’s sporting performances, particularly the Champions League, according to the club.