Financiers who normally find it almost impossible to get the ear of the Agnelli family on the future of Italian soccer club Juventus say they now sense more of a willingness to listen.
The "Old Lady", as Italy's most successful soccer club is known, is in the midst of tackling off-pitch issues and spiralling costs as it attempts to regain its magic.
The Agnellis, who have steered Juventus for almost a century, own 64% through Exor , the holding company run by scion John Elkann which feeds dividend via its parent firm to several dozen family members. Juventus has gobbled up 700 million euros in cash from shareholders over the past four years, roughly two thirds of which has come from Exor, in whose portfolio the club is the only major business not currently making money.
And after its first trophy-less season in a decade during the 2021-22 season, the club risks being excluded from the next prestigious and lucrative Champions League tournament. Speaking on condition of anonymity, several said that taking Juventus private was widely seen in the investment community as the best way to tackle its troubles.
The family could also consider a joint venture or commercial partnership instead of a minority investment, the source said, adding that the Agnellis were monitoring how the sales of rival clubs Manchester UnitedEuropean soccer is increasingly dominated by a handful of clubs whose owners have deep pockets and are able to cover losses, testing the sector's financial "fair play" rules.
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