Juventus picks banks for up to 400 million euro cash call


MILAN (Reuters) - Serie A soccer club Juventus said on Friday it has signed a pre-underwriting agreement with a group of Italian and international banks for a planned capital increase of up to 400 million euros ($475 million).

Like other soccer clubs in Europe, Juventus have been hard hit by the fallout of the pandemic, which has prevented fans from attending matches and reduced marketing and merchandise opportunities.

Turin-based Juventus said it selected Goldman Sachs, JP Morgan, Mediobanca e UniCredit CIB as joint global coordinator of the offer, saying the banks agreed to enter an agreement to underwrite any unsold share.

Juventus said top shareholder Exor, the Agnelli's family holding company, would back the proposed share issue to keep its 63.8% stake. It said it expected to complete the cash call by year-end.

Juventus was among 12 of Europe's leading soccer clubs which made a failed attempt to set up a breakaway European Super League in April, a project which JP Morgan was ready to bankroll with a 3.5 billion euro grant to the founding members.

($1 = 0.8414 euros)

(Reporting by Elvira Pollina; editing by Jason Neely)

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights
   

Next In Others

Wei Lun sets his sights on making it to France Paralympics 2024
Sport-Charity launches campaign to tackle dementia on World Alzheimer's Day
Climbing-Boulder and Speed World Cup in Seoul cancelled due to COVID-19
Climbing-Global group apologises to Austrian climber for 'objectification' in broadcast
Triathlon-World sprint and relay championships in Bermuda cancelled due to COVID
Former StarSport journalist Ronnie gone, but not forgotten
Veteran sports writer Ronnie Oh breathes his last
Former Vikings OT Steve Riley dies at 68
Six-time Pro Bowl DT Roger Brown dies at 84
Motor racing - Red Bull blame Verstappen's slow Monza pitstop on FIA change

Stories You'll Enjoy


Vouchers