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Juventus seeking €200m investment to offset more losses

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Juventus is eyeing a fresh €200m investment from banking partners following the release of more losses in its latest financial report.

The Bianconeri’s shares on the Milan Stock Exchange dropped 29% from the same period the previous year, with the extra capital needed to help issue more shares for the club.

New investment is also being cited as a tool to offset the club’s financial losses it has experienced in previous years as net debt has also increased over time.

Financial turmoil has been hanging over the heads of the Agnelli family – majority owners of Juventus – for quite some time now, having lost more than €600m in the last five years with the last time the team posting a net profit in 2016-17.

Earlier this year, Juventus was accused of market manipulation by allegedly inflating player prices amongst other accusations and were initially handed a 15 point deduction.

The points ban was later rescinded in April pending a retrial but it has become evident that the Old Lady’s financial worries off the pitch has had an impact on the growth of the club on the pitch.

Italy’s most successful club has drastically fallen from the heights of winning nine consecutive Serie A league titles between 2011 – 2020. The club has not won the Scudetto since and finished outside the qualification positions for the UEFA Champions League for the first time in over a decade.

Furthermore, the club was banned from European competition for this season as Juventus were found to have broken UEFA financial fair play rules, owing to the increasing woes surrounding the club.

Aiming to turn their fortunes around, the Agnelli family is looking to bankers who previously cashed out their previous stakes in the club to re-invest, albeit not being able to make as much of a return on profit as they previously did.

Forbes stated that the only way Juventus will be able to make money is if ‘the Agnelli family sells’, which would bring the end to an ownership that dates back to 1923.

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European Leagues

EPL: 11 Chelsea players miss training ahead of Everton clash

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EPL: 11 Chelsea players miss training ahead of Everton clash

At least 11 Chelsea players were absent in training ahead of Monday’s Premier League clash against Everton.

According to Standard Sport, Axel Disasi and Enzo Fernandez have joined the injury list.

Raheem Sterling and Robert Sanchez are listed as ill.

Already unavailable are Levi Colwill, Wesley Fofana, Reece James, Romeo Lavia, Christopher Nkunku and Lesley Ugochukwu all on the club’s injury report.

But there is a positive update for Chelsea with defender Ben Chilwell returning to partial training.

The Blues go into the game sitting in 9th place with 44 points.

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European Leagues

EPL: Man City cannot drop points – Guardiola

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EPL: Man City cannot drop points – Guardiola

Manchester City manager, Pep Guardiola, has admitted his team cannot afford to drop more points in the Premier League title race.

The champions are looking to win the trophy for an unprecedented fourth consecutive season.

However, they are currently in third place, behind rivals Arsenal and Liverpool on the table.

City will play Luton Town first, before Liverpool host Crystal Palace and Aston Villa travel to Arsenal on Sunday.

“The Premier League is so important. I expect a game similar to the Premier League when we won 2-1 at the end of the FA Cup. We have to be ready.

“We’re fighting for the title, we cannot drop points,” Guardiola told reporters today.

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Fenerbahce fined over Turkish Super Cup walk-out

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Fenerbahce fined over Turkish Super Cup walk-out

Fenerbahce were fined 115,000 euros ($123,175) on Thursday over their Turkish Super Cup protest at the weekend.

Fenerbahce walked off the field in the opening minutes of the fixture against Galatasaray on Sunday as a protest against alleged unfair treatment.

Fenerbahce fielded an Under-19 team for the game against their Istanbul rivals. Galatasaray went ahead after three minutes with Fenerbahce then walking off in a pre-planned protest.

The Turkish Football Federation awarded Galatasaray a 3-0 win and issued Fenerbahce with the six-figure fine.

“It’s time for Turkish football to be reset,” Fenerbahce president Ali Koc had told a press conference before the match.

Fenerbahce are chasing their first Turkish title since 2014 and are two points behind champions Galatasaray with seven rounds to go. Fenerbahce claim they are being picked on.

They had asked for the Super Cup to be postponed ahead of their Europa League quarter-final against Olympiakos on Thursday.

And the club had also demanded that a foreign referee take charge of the Super Cup, citing unfavourable treatment from Turkish referees.

Both demands were denied by the Turkish federation.

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