Juventus reiterate Super League 'legitimacy,' announce €210m losses

Juventus said they remain convinced of the Super League's "legitimacy" as they announced an annual loss of nearly €210 million ($246.3m) on Friday.

The Bianconeri, along with two other Serie A sides, three clubs from LaLiga and six from the Premier League, announced the formation of a European Super League in April.

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Strong fan backlash soon saw the six Premier League clubs -- Chelsea, Manchester City, Manchester United, Liverpool, Tottenham Hotspur and Arsenal -- pull out, and they were followed by Inter Milan, Atletico Madrid and AC Milan.

Despite threats of expulsion from domestic and continental football, Juve, Real Madrid and Barcelona remain part of the competition.

"On April 19, 2021, Juventus along with 11 other top European clubs, announced the creation of the Super League, a new European football competition, alternative to UEFA, but not to domestic league and cup competitions," a Juve statement read.

"The competition would be organised and managed by the ESLC (European Super League Company S.L.), of which each founding club is a member and shareholder with the same stake and rights, so that the Super League is owned exclusively by the clubs and not third parties, thereby creating an overlap between those bearing the business risk and those managing the television and radio rights related to the sporting competitions.

"As of today, it is not possible to predict with certainty the outcome and future development of the Super League project, of the legitimacy of which Juventus remains confident."

Juve also announced severe losses due, in part, to the negative financial impact of the COVID-19 pandemic.

"The 2020-21 financial year ends with a consolidated loss of €209.9m ($246.2m), compared with a loss of €89.7m ($105.2m) the previous year," the statement added.