The Portuguese superstar completed his sensational return to Old Trafford in the final week of the summer transfer window with the Italian club’s finances helping to explain the move
The precarious economic situation at Juventus has been well documented in recent months and the club’s financial report for the 2020/21 season has laid bare the problems.
The Italian giants are one of three clubs – alongside Barcelona and Real Madrid – who continue to push for a so-called European Super League; a project that would protect and grow their revenue streams in the long-term.
The Bianconeri have now published their financial results from last season which show that the club recorded a £179million loss over that period.
The club’s revenue of £410m across the season was down from £489m the previous campaign – a drop of 16 percent and a result of the impact of the Covid pandemic.
This drop in revenue was behind the huge loss recorded by the club, which was 134 percent higher than the previous campaign.
Juve also saw their club debt increase by £3.4m from the previous year, now standing at a total of £332m.
These alarming financial results explain why the club were so willing to sell star player Cristiano Ronaldo in the closing weeks of the summer transfer window.
The Portuguese forward was the club’s highest earner with an annual salary of £28m – multiple times more than the second highest paid player in Turin (defender Matthijs de Ligt, whose yearly wage was £7.2m).
Ronaldo, 36, had scored 101 goals across three seasons at the Old Lady, whom he had joined from Real Madrid in 2018, and led them to two Serie A titles and last season’s Coppa Italia success.
Yet Juve were aware of their pressing financial concerns and the need to urgently reduce their wage bill, which is why they agreed to strike a cut-price transfer to allow the player to return to Manchester United.
The English club agreed to pay a fee of £12.8m – which will be spread across multiple payments – alongside the potential add-ons in the region of £6.86m.
Juve relinquished their grip on the Serie A title last year to Inter – who lifted the trophy for the first time since 2010 – with Andrea Pirlo’s side only confirming a top four finish, to guarantee Champions League football, on the final day of the campaign.
Pirlo was dismissed in the close-season to herald the return of former boss Massimiliano Allegri, who had left the club in 2019.
Allegri has endured a difficult start to life back in the Juve dugout, with an opening day 2-2 draw at Udinese followed up by defeats to Empoli and Napoli respectively.