Serie a giants Juventus recorded massive improvement in matters revenue in Cristiano Ronaldo’s first season with the club.
Ronaldo joined Juve last season from Real Madrid and his effect was felt in the revenue side with the club recording an increase of more than 100 million euros.
Despite the gain, the club’s losses also doubled due in part to the five-time Ballon d'Or winner's hefty transfer fee of 100 million euros and a salary of 31 million euros ($34 million).
The publicly traded club released financial statements Friday and proposed a capital increase of 300 million euros to cover costs through 2023-24.
Revenues rose from 504 to 621 million euros, while losses increased from 19 to 40 million euros during a season in which Juventus was knocked out of the Champions League in the quarterfinals; the club having been billed to collect 30 million euros more from UEFA if they reached the Champions League final.
Ticket sales rose by nearly 15 million euros last season while playing and coaching staff wages increased by 68 million euros to 301 million euros.
The statement also included details on Adidas' sponsorship of the team. The contract was modified in December to an eight-year deal through 2026-27 for a total of 408 million euros plus bonuses.
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