Juventus plans 400 million euro cash call to weather COVID-19 hit

FILE PHOTO: Soccer Football - Serie A - Juventus v Napoli - Allianz Stadium, Turin, Italy - April 7, 2021 Juventus' Cristiano Ronaldo celebrates after the match REUTERS/Massimo Pinca/File Photo

(Reuters) - Italian soccer club Juventus plans to raise up to 400 million euros ($474 million) in a new share issue to offset the hit to its finances from the COVID-19 pandemic, it said on Wednesday.

The Serie A club put the cost of the pandemic at 320 million euros for the fiscal years between 2019 and 2022, due to stadiums remaining closed for extended periods of time amid COVID-19 restrictions.