There was a moment, shortly before the 2006 World Cup victory, when what would become a good part of the board of the company many years later was indirectly forming in the offices of Philip Morris International. Juventus.
In those years Maurizio Arrivabene was about to become vice president of communication and brand promotion, while Francesco Calvo was taking his first steps in the company dealing with the promotion of the brand’s activities in Formula 1.
More than 15 years later the two found themselves on the board of Juventus: Maurizio Arrivabene as Chief Executive Officer and Francesco Calvo as Chief of Staff (after a first experience in the past at Juventus as sales manager).
Calvo’s return and the connection with Arrivabene
The return of Calvo it was wanted by Arrivabene (and in particular by John Elkann) who is thus tracing the new management course of the Juventus club after the farewells of Giuseppe Marotta first, and then Fabio Paratici.
A new course in which the authority and the legacy by Andrea Agnelli will be questioned more than in the past, where the vision of the Elkanns and the burden of Exor it will be much more relevant. The group of investors owned by the Agnelli family is one of the major subsidiaries of the Juventus project in the last decade; recently the group has funded the recapitalization of 400 milliona useful figure for future investments, to therefore give the new managers the ability to maneuver on the transfer market and make up for the income that has been lost due to the global pandemic.
Juventus closed the last balance sheet with a loss of 119 million euros and stopping the investments now could mean giving the players an advantage competitoror in any case lengthen the times for a return to the top.
This is evident from John Elkann’s letter to investors: “When results are lacking, change is necessary. We also guaranteed enough time and resources for the Company to get back to the top, on and off the pitch ”.
The new course of Juventus
The return of Francesco Calvo is a useful piece to recompose the team he led Juventus at the top in recent yearswith figures who know the environment and others for whom the same principle applies but who may not have crossed paths in the crucial years: this is precisely the case of Calvo and Giorgio Riccimany professional years at Juventus for the latter, but a hole between 2012 and 20015 due to the experience ofIntera period in which Calvo took over for sponsorships and commercial revenues.
With the return to maximum capacity for the league and cup matches, Juventus will have to recover a good part of the revenues lost in the last two years in the Stadium. The policy of price scalability and the increase in revenues from hospitality, Legends Club And Premium Club of the stadium allowed the club to earn as teams that have double the available seats in their facility.
In the season before the arrival of Francesco Calvo, Juventus recorded in the 2011 – 2012 budget € 279.4 millionat his “farewell”, the club recorded for the 2015 – 2016 season 323.9 million of turnover. A clear improvement made evident above all in the item commercial revenues and in the constant maintenance of the positioning in Top 10 in the Football Money League, the ranking that compares the turnovers of the top European clubs.
The new board takes, over the months, an increasingly defined shape. Arrivabene will be the face and mind of the managerial choices of the future of Juventus: “The structure has changed at Juve, we are here not to rebuild, but to build. Me, Nedved, Cherubini and Allegri: choices, decisions and programs are the result of four-headed reflections and do not ignore the sharing of paths and objectives. Naturally under the supervision of Andrea Agnelli ”.
Among other figures, that of Federico Cherubini adds another brick to the idea of a board with professionals who know the environment well and who can benefit from past experiences and collaboration with new colleagues.
Cherubini worked in the youth academy of Juventus and in the Juventus team B (under 23) project, up to the first team as Head of Football. A role played in the club’s past by Marotta first and then Paratici.
The commercial strategy of Juventus
Also in the communication area, led by Claudio Albanese since 2010, there have been news, in particular for the marketing and digital part in which from September 2021 he joined as Chief Marketing Officer Mike Armstronga Canadian-born professional formerly Google with a great predisposition to the new digital businesses of the Sport Industry (esports and new media such as Twitch).
Attracting the younger target audience and the audience of the future will be needed for the Juventus brand.
After the arrival of Ronaldo the black and white brand benefited from knowledge and positive perceptions internationally, now the club must drain what has been built in the last few years CR7 in earnings and support from the foreign public who will probably never see Juventus directly at the Stadium, but can be hired for other monetization formulas.
“We know we have to develop a strategy with which we attract attention through the Juventus brand, bringing the Italian, European and international public closer to interest, in the way we want to tell it and people want to listen to it”.
To pronounce these concepts is the neo-CMO Armostrong.
Social platforms as elements of the strategy
Platforms like Twitchon which Juventus is the Italian who is moving best with a strategy ad hoc and broadcasts in English, TikTok which today hosts the youngest audience and which in the future will most likely be the social network with the most users, are the fields in which Juventus it will have to act to diversify and intensify revenues.
“Our industry is focused on TikTok. I think that in five years the number of followers of Juventus and of the other clubs on that channel will have grown even more. The latest studies show what Generation Z social is like. Another is Snapchat, which comes from North America and will grow, as it is already doing in North America among the younger generations ”.
The arrival of Greta Bodino from ECA
Among the recent entries of the board, the arrival of Greta Bodino in July 2021, she joined Juventus practically together with Arrivabene. Conceptually, the new Chief People & Culture Officer is a figure closer to Andrea Agnelli’s ideas and network, given that she comes from her experience as director of staff and operations in ECAthe European sports policy body of which the Juventus president was at the top before the spontaneous resignation due to the Superlega affair.
There commercial challenge will integrate highly remunerative agreements such as the one with Adidas which with the renewal of 2019 is guaranteeing Juventus a minimum amount of 408 million euros (approximately 51 per season) and which will expire in 2027.
From this point of view and that of the main jersey sponsor, namely Jeep 4xe, Juventus has made the most of its profits: with 57 million euros per season from the brand of automotiveplus those guaranteed as specified above by the technical sponsor, it is clear that it is on other paths that the management will have to go to obtain greater operating revenues.
The company headed by the top Andrea Agnelli is one of the few that has managed to use all the spaces on the jersey authorized by the governance of Lega Serie A for commercial purposes: Bitget as sleeve sponsor offers 5.5 million per season, while the Cygames jersey back sponsor guarantees 7 million euros per season. It is from these channels plus the merchandisepartnerships with local brand foreign and digital projects such as NFTs and fan tokens that Juventus will have to propose a further leap forward to see their own commercial revenues approach those of cases such as Real Madrid, Manchester City or Bayern Munich.