In their pursoot to raise capital, football club Juventus plans to sell of its stock. The partly-publicly owned italian club has posted decline of revenue in its latest years and plans to raise capital to afford its new stadium and to offer lucrative contracts to talented football stars.
Here is a video of the plan of their new stadium they unveiled in 2008.
An investment of €120 million (US$170.8 million), accompanied by a new share issue and underwritten by the club’s major shareholders according to the size of their respective stakes, has been proposed as part of a development plan to run from 2011/12 to 2015/16. The money will be used to improve the finances of the Serie A giants, whose debts currently stand at a reported €70 million (US$99.6 million), and invested in the first team. Milan-based bank Unicredit will administer the operation, with shareholders set to vote on the offer in October.