TURIN, July 1 ― Italian football club Juventus plans to raise up to €400 million in a new share issue to offset the hit to its finances from the Covid-19 pandemic, it said on Wednesday.
Juventus also said it had appointed Maurizio Arrivabene as chief executive officer for football as part of a broader revamp of its sporting management structure. The reorganisation comes after a failed attempt by Juventus and other top European clubs to set up a breakaway league in an effort to lift revenues.
The club's board said top shareholder Exor, the Agnelli's holding company, would back the proposed share issue to keep its 63.8 per cent stake.
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