Juventus board approves new share issue of of $475 million

TURIN, Italy (AP) —  Serie A club Juventus has moved a step closer to receiving a cash injection of up to 400 million euros ($475 million) by issuing new shares in the club. The Juventus board approved a proposal for the new share issue, having already signed a pre-underwriting agreement with several major financial institutions last month. Juventus has been hit hard by the coronavirus pandemic and saw its record run of nine straight Serie A titles ended last season by Inter Milan. It was also part of the ill-fated European Super League project. Juventus is owned by the Agnelli family through holding company Exor N.V.