Champions League success vital if Juventus to escape financial strife

For a club that won nine Serie A titles in a row from 2012 until 2020, two seasons without a league title represents something of drought. (AFP)
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Updated 12 September 2022
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Champions League success vital if Juventus to escape financial strife

  • Club has endured major losses in last 5 years, troubles continue on pitch too

These are uncertain times for Juventus. For a club that won nine Serie A titles in a row from 2012 until 2020, two seasons without a league title represents something of drought.

And currently, a third looks very likely.

On Sunday, another ordeal ended in late drama as Juventus looked to be heading to a home loss against Salernitana, only for the team to salvage a late draw, and then think they had won it before a last-ditch goal was disallowed.

In the end the 2-2 draw felt like an injustice after the video assistant referee disallowed what looked a clear winner for the Old Lady deep into stoppage time.

But the Turin club have bigger problems, ones that can only be fixed with a hugely successful season and a deep run into the Champions League knockout stages.

After losses of $213 million in the 2020-21 season, similar problems arose last season (2021-22), with the club once again stuck in the red.

Exor, the holding company of the Agnelli family that owns 63.8 percent of Juventus’ shares, oversaw club losses of $133 million in the six months ending Dec. 31, compared with a $115 million loss over the same period a year earlier.

The Bianconeri shareholders will meet between Sept. 16 and 23 to discuss their economic results and agree a new budget.

These financial losses have left the club’s accounts in arrears for the fifth consecutive year.

Weak revenues at the Allianz Stadium, due to the repercussions of the coronavirus pandemic — with capacity often restricted to between 50 and 75 percent — in addition to the high cost of Cristiano Ronaldo’s contract, despite his departure in the summer of 2021, have played major roles in these figures.

Ronaldo’s deal, with his basic salary and financial rewards, has majorly burdened Juventus. The club paid $119 million to Real Madrid in the summer of 2018, and the player received an annual salary of more than $30 million over three seasons, during which he failed to win the coveted Champions League, despite collecting five domestic trophies.

After that splurge, now comes a time of austerity, and the quickest way to redress the situation would seem to be through success in Europe.

To avoid a sixth year of losses, Juventus must go as far as possible in the Champions League this season, after being eliminated from the round of 16 in the past three seasons.

This season, winning the Champions League will guarantee a $69 million windfall. Doing it with a perfect group record would secure in the region of $86 million, while winning the UEFA Super Cup would put an additional $5 million into the coffers. Adding broadcasting and advertising income, a successful European campaign season could generate more than $200 million.

Such lofty ambitions seem a long way off at this point.

Massimiliano Allegri’s men have won only two out of six matches this season in Serie A, leaving them in eighth place, and no doubt the priority will be to win a record-extending 37th title, before thoughts turn to Europe.

But the financial situation has hampered the coach’s recruitment as a reliance on free or loan deals in the transfer window has shown.

Serbian forward Dusan Vlahovic may have come from Fiorentina in January for a fee of $71 million, but the other high-profile additions such as the now injured Paul Pogba, from Manchester United, and Angel Di Maria, from Paris Saint-Germain, have arrived on free transfers.

But even if Juventus regain their domestic luster to retain the league title they considered their property for so long, it remains a major challenge to translate that success to the Champions League, in which they have failed time and again in recent years, even with the recruitment of Ronaldo specifically for that task.

On the pitch, it does not appear that Juventus are in good health, although it is only one match into the Champions League season, in which they suffered a not unexpected loss to Paris Saint-Germain in the French capital.

Hopes hang on a successful Champions League campaign, but things do not look promising, as much as there appears to be a desperate need for that title.

The Juventus hierarchy know that in addition to the big financial rewards that would come with winning the trophy, success would raise the club’s market value as well as that of the players.

At this point in time, it is uncertain in the extreme that Juventus can retain the Serie A title, never mind win the Champions League. The lean times look set to continue.


Bellingham leads Madrid past Mallorca to set up a Spanish Super Cup final against Barcelona

Updated 10 January 2025
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Bellingham leads Madrid past Mallorca to set up a Spanish Super Cup final against Barcelona

  • Bellingham blasted in the third shot in a row by Madrid after Rodrygo initially hit the post
  • Madrid tacked on two goals late in stoppage time

JEDDAH: Jude Bellingham scored again to lead Real Madrid into the Spanish Super Cup final with a 3-0 win over Mallorca in Saudi Arabia on Thursday.
The England midfielder, who led Madrid in scoring last season, started this campaign slowly but has netted seven goals in his last eight Spanish league games.
He notched another goal in 63rd minute of the Super Cup semifinal when he finally broke down a tough Mallorca that until his goal had imposed their defensive style on the star-studded Madrid.
Bellingham blasted in the third shot in a row by Madrid after Rodrygo initially hit the post and goalkeeper Dominik Greif blocked a follow-up by Kylian Mbappé.
Bellingham collected the rebound and slotted his shot from just outside the six-yard box under the on-rushing Greif and past three defenders who were trying to protect the goalmouth.
Madrid tacked on two goals late in stoppage time. Mallorca’s Martin Valjent scored an own goal when he inadvertently turned a pass by Brahim Díaz into his net. Rodrygo then took Madrid’s third.
The match ended with a short scuffle after the final whistle before calm was restored.
Barcelona await Madrid in Sunday’s final.
Madrid lost Aurélien Tchouaméni, a midfielder playing as a central defender, in the 54th after he took a hard knock to the head during a collision with a Mallorca player.
Youth player Raúl Asencio replaced him.
Madrid were competing as last season’s Spanish league champion, while Mallorca were invited as the runner-up in the Copa del Rey.
Former Madrid striker Karim Benzema, who now plays in the Saudi Arabian league, was in attendance.
The minor trophy has become a major cash maker for the federation and competing clubs since the federation struck a deal in 2019 to hold it in the Middle Eastern kingdom.


Ronaldo penalty and Mane double propel Al-Nassr to 3-1 victory

Updated 10 January 2025
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Ronaldo penalty and Mane double propel Al-Nassr to 3-1 victory

  • After Savior Godwin gave Okhdood an early lead, former Liverpool star Sadio Mane leveled after 29 minutes
  • Ronaldo, who signed for Al-Nassr two years ago, put the Riyadh club ahead from the penalty spot three minutes before the break

RIYADH, Saudi Arabia: Cristiano Ronaldo scored his 11th goal of the season to help Al-Nassr defeat Al-Okhdood 3-1 on Thursday as the Saudi Pro League restarted after a month’s break.
After Savior Godwin gave Okhdood an early lead, former Liverpool star Sadio Mane leveled after 29 minutes.
Ronaldo, who signed for Al-Nassr two years ago, put the Riyadh club ahead from the penalty spot three minutes before the break.
The 39-year-old Portugal star was top scorer last season and is now one goal behind Aleksandar Mitrovic of Al-Hilal in the current rankings.
Mane added his second in the 88th minute as Al-Nassr moved into third in the standings, six points behind Al-Hilal and eight behind leader Al-Ittihad.


Atletico blast decision to let Barca’s Olmo play as dissent grows

Updated 10 January 2025
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Atletico blast decision to let Barca’s Olmo play as dissent grows

  • The Catalans sought and were granted a precautionary measure by the CSD on Wednesday
  • Las Palmas were also upset with the decision by the CSD

MADRID: La Liga team Atletico Madrid criticized on Thursday a “dangerous precedent” set by the Spanish national sports council (CSD) to allow Barcelona midfielder Dani Olmo to play on a temporary basis after his license expired.
Olmo and forward Pau Victor were unregistered by La Liga after Barcelona failed to get their short-term licenses extended before the end of 2024.
The Catalans sought and were granted a precautionary measure by the CSD on Wednesday, while their case against La Liga and the Spanish football federation’s decision is analyzed, which would allow Olmo and Victor to play until there is a final ruling.
“Atletico Madrid wish to express their deep concern about the situation in Spanish football following the resolution adopted this Wednesday by the (CSD),” said the club in a statement.
“We believe that this decision puts the current system in jeopardy, questioning the rules of the game.
“This government intervention creates a very dangerous precedent, as it opens the door to breaking the rules and making the same serious mistakes of the past.”
Financially-struggling Barcelona were not in a position to register Olmo and Victor under La Liga’s strict financial fair play rules, until they agreed a deal to sell some VIP seats to Middle Eastern investors in late December, with the paperwork not ready until after the deadline.
Without the missing players Barcelona beat Athletic Bilbao to reach Sunday’s Spanish Super Cup final in Saudi Arabia.
Las Palmas were also upset with the decision by the CSD.
“We believe that this decision poses a serious threat to the integrity of the competition and sets a worrying precedent that could destabilize the foundations of professional football in our country,” said Las Palmas in a statement.
La Liga president Javier Tebas railed against the decision to let Olmo and Victor play, calling the situation a “tragicomedy” in a post on social media.
Tebas expressed his surprise at the CSD measure and highlighted that it contradicted previous decisions made by the council and some courts.


Continental Europe and Great Britain & Ireland set for Team Cup showdown in Abu Dhabi

Updated 10 January 2025
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Continental Europe and Great Britain & Ireland set for Team Cup showdown in Abu Dhabi

  • Europe captain Francesco Molinari faces off against fellow major champion and Ryder Cup teammate Justin Rose, who leads GB&I
  • The event tees off on Friday with a fourballs session, is followed on Saturday by 2 sessions of foursomes and concludes with singles on Sunday

ABU DHABI: Continental Europe, led by captain Francesco Molinari, begin their defense of the Team Cup against Great Britain & Ireland at Abu Dhabi Golf Resort on Friday.
The Italian, who became the first golfer from his country to become a major champion when he triumphed at The Open in 2019, was in charge when the Europeans claimed a 14½-10½ victory over GB&I, captained by Tommy Fleetwood, at the inaugural event (then called the Hero Cup) in 2023, personally contributing three-and-a-half points to the cause.
This time, Molinari is facing face off against fellow major champion, and Ryder Cup teammate, Justin Rose, who is captaining the opposition in an event that serves as an important part of Europe’s Ryder Cup preparations ahead of this year’s contest at Bethpage in New York in September.
The members of the two, 10-man Team Cup squads boast a combined total of 69 DP World Tour titles between them, and include four Ryder Cup players: Molinari, Rose, Fleetwood and Tyrrell Hatton.
“I think that the experience from two years ago is going to come in handy,” Molinari said. “I think a lot of the stuff that we did worked. I think obviously we were lucky to get the support from my brother and the other past Ryder Cup captains.”
Rose said of his role as captain: “It’s an honor, first and foremost. I think it’s been something that’s sort of been on my mind. Because, obviously, sometimes when you play as a player, you’re obviously preparing all the time for tournaments that come up but when you have something like this looming large, you start thinking about it months in advance.”
The Team Cup is a matchplay contest that tees off on Friday with a fourballs session, is followed on Saturday by two sessions of foursomes, and concludes with singles on Sunday. Every player competes in each of the sessions.
Rose will be in action in the first match on the opening day alongside five-time DP World Tour winner Matt Wallace. They will take on the French pair of Romain Langasque, who won the Amateur Championship in 2015, and Matthieu Pavon, who last season became the first Frenchman for more than 100 years to win on the PGA Tour.
Five-time DP World Tour winner Rasmus Hojgaard, who missed the 2023 event as a result of injury, will partner last year’s Challenge Tour Road to Mallorca Rankings winner Rasmus Neergaard-Petersen against the English pair of Laurie Canter and Jordan Smith.
Alongside the action on the course, there will be a host of activities and events throughout the three days of the event for fans to enjoy. This includes musical entertainment, which begins on Friday with a performance by Irish singer Rory McGettigan. On Saturday, Shades of Jade will take the stage with their dynamic blend of jazz, pop, funk and party classics. After the champions are crowned on the 18th green on Sunday, singer-guitarist The Dazzler will round off the event with an evening of his signature singalongs.


Everton fire manager Dyche hours before a game in first big call by new American owners

Updated 09 January 2025
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Everton fire manager Dyche hours before a game in first big call by new American owners

  • Everton announced the move just hours before hosting third-tier Peterborough in the FA Cup third round
  • “The process to appoint a new manager is underway and an update will be provided in due course,” Everton said

LONDON: In the first big call by its new American owners, Everton fired manager Sean Dyche on Thursday with the team just two spots above the relegation zone in the Premier League.
Everton announced the move just hours before hosting third-tier Peterborough in the FA Cup third round.
The storied club — a nine-time English champion which have been without a major trophy since 1995 — were bought last month by the Texas-based Friedkin Group in a deal reportedly worth in excess of 400 million pounds ($495 million).
Fronted by Dan Friedkin and his son Ryan, the group also owns Italian team Roma and has made itself unpopular with supporters of the Serie A club for making contentious management changes — including firing Daniele De Rossi, the club’s beloved former captain, early this season.
Removing Dyche might have been necessary, however, with Everton having won just one of their last 11 league games and scoring in just three of them. With 15 goals from their 19 games, Everton are the second-lowest scorer in the division and have plunged to just one point above the bottom three.
“The process to appoint a new manager is underway and an update will be provided in due course,” Everton said in a statement.
Dyche was in charge for nearly two years, during which he maintained Everton’s status as an ever-present in England’s top division since 1954. His style of play was pragmatic and often turgid, relying on not conceding goals more than providing entertainment — and that might be something the Friedkins look to change.
Everton said Leighton Baines, a former player and the club’s under-18s coach, and current club captain Seamus Coleman will take charge of the team on an interim basis.
Everton’s next Premier League game is on Wednesday against Aston Villa.