A report from Corriere dello Sport suggests that Exor could look to sell Juventus in the second half of 2023. The club has been in the hands of the Agnelli family for almost 100 years via their holding company, Exor, which has a 68% controlling share of Juve but currently finds itself embroiled in another scandal. The Bianconeri stand accused of inflating players transfer values and paying their players ‘under the table’ despite an agreement to waive four months of salary.
Corriere report vague rumours from London regarding a potential sale, but the article lacks any real substance or sources. The suggestion is that the club has been propped up by ‘robust’ capital increases in recent years in order to cover the ‘excesses of a management that has ventured, since 2018, into systematic overspending.’
Exor is a listed holding company and has funds and institutional investors as minority shareholders and a market-traded float. It controls companies including Ferrari, Stellantis, Cnh Industrial, Iveco, Louboutin, Gedi; a €36 billion portfolio of which Juventus accounts for only 1.5 percent. The suggestion is that as Exor must provide return on capital invested, they could potentially sell Juventus when the day arrives, and that could be next year, according to Corriere.
The report talks about the need to justify Juventus’ inclusion to shareholders as part of Exor’s portfolio and how selling in the coming year would guarantee a ‘very satisfactory return’ but offers no real suggestion that there are interested parties, or that Exor president John Elkann would really entertain the idea of selling.
