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    JUVE   IT0000336518

JUVENTUS FOOTBALL CLUB S.P.A.

(JUVE)
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Juventus Football Club S p A : Real Madrid, Barça, Juve defend Super League despite UUEFA 'threats'

05/08/2021 | 07:07am EDT

Madrid, May 8 (EFE).- Real Madrid, Barcelona and Juventus on Saturday said they remained committed to the European Super League despite UEFA "threats" to abandon the plan.

The Super League project initially started with 12 founding members comprising some of the richest clubs in Europe but a huge fan backlash, particularly in England, forced teams like Manchester United, Liverpool and Chelsea to withdraw from the exclusive league.

In a joint statement Saturday, the three remaining clubs defended the Super League and called for a debate on the topic to be reopened.

"The founding clubs have suffered, and continue to suffer, unacceptable third-party pressures, threats, and offenses to abandon the project and therefore desist from their right and duty to provide solutions to the football ecosystem via concrete proposals and constructive dialogue.

"This is intolerable under the rule of law and Tribunals have already ruled in favour of the Super League proposal, ordering FIFA and UEFA to, either directly or through their affiliated bodies, refrain from taking any action which may hinder this initiative in any way while court proceedings are pending."

Real Madrid, Barcelona and Juventus said the league was designed "with the aim of providing solutions to the current unsustainable situation in the football industry" and "to bring financial stability to the entire European football family, currently under the effects of a deep crisis that threatens the survival of many clubs."

They said the Super League would only go ahead if it was recognized by FIFA and/or UEFA, both of which, they added, had "refused" to open communication channels with the founding member.

UEFA on Friday said it had begun "reintegration measures" for the nine clubs that had pulled out of the Super League plans but that the three remaining clubs would be referred to disciplinary bodies.

In the statement Saturday, Real Madrid, Barcelona and Juventus said: "We are fully aware of the diversity of reactions to the Super League initiative and, consequently, of the need to reflect on the reasons for some of them.

"We are ready to reconsider the proposed approach, as necessary.

"However, we would be highly irresponsible if, being aware of the needs and systemic crisis in the football sector, which led us to announce the Super League, we abandoned such mission to provide effective and sustainable answers to the existential questions that threaten the football industry."

The 12 founding members of the Super League originally comprised Spain'sReal Madrid, Barcelona and Atletico de Madrid; England's Manchester City, Manchester United, Liverpool, Arsenal, Tottenham Hotspur and Chelsea, and Italy'sJuventus, Inter Milan and AC Milan.

The announcement of the Super League on 18 April caused a huge stir in European football, sparking immediate legal threats from UEFA and FIFA and, in England, fan protests.

Some of those protests gained ground and Manchester United finds itself mired in a standoff between some fan groups and the club's owners, the Glazer family.

Last week, Manchester United'sPremier League match against Liverpool had to be postponed when protesting fans stormed Old Trafford and clashed with police. EFE

© 2021 EFE News Services (U.S.) Inc., source EFE Ingles

Stocks mentioned in the article
ChangeLast1st jan.
JUVENTUS FOOTBALL CLUB S.P.A. -0.60% 0.7435 Delayed Quote.-8.18%
MANCHESTER UNITED PLC 0.71% 15.54 Delayed Quote.-7.17%
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Financials
Sales 2021 454 M 538 M 538 M
Net income 2021 -198 M -235 M -235 M
Net Debt 2021 431 M 511 M 511 M
P/E ratio 2021 -4,96x
Yield 2021 -
Capitalization 989 M 1 173 M 1 173 M
EV / Sales 2021 3,13x
EV / Sales 2022 2,55x
Nbr of Employees 915
Free-Float 36,2%
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Mean consensus OUTPERFORM
Number of Analysts 2
Average target price 0,93 €
Last Close Price 0,74 €
Spread / Highest target 34,5%
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Spread / Lowest Target 14,3%
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Stefano Cerrato Chief Financial Officer
Andrea Agnelli Chairman
Claudio Leonardi Head-Information Technology & Logistics
Alberto Mignone Head-Administration
Paolo Garimberti Independent Director
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