Juventus has no requirement of additional capital, says Exor’s Elkann

MILAN (Reuters) – Serie A soccer club Juventus does not need a fresh capital injection, the chief executive of controlling shareholder Exor said on Wednesday.

Exor on Tuesday proposed accountant Gianluca Ferrero as the new chairman of Juventus, marking the end of the long reign of Andrea Agnelli as the Italian soccer club tries to get to grips with its financial and legal troubles.

“Juventus has no requirement of capital,” Exor CEO John Elkann told analysts and investors at a business presentation of the holding company of Italy’s Agnelli family.

“Football is a very valuable sector, the ingredients that Juventus has and the leadership ahead are going to make the differences,” Elkann said, adding Exor was very encouraged by the future of the club.

(Reporting by Giulio Piovaccari; Editing by Keith Weir)