By Alessandra Tarantoni EditorThe Fiorendina Football Club has agreed to pay €1m to Juventus in the form of a loan to help support its players during the 2018/19 season.
The deal was announced by the club on Tuesday.
The loan will be made to the Fiorenda Sportiva della Sestola di Torino (FiOS), a non-profit organisation established to help subsidise the cost of football-related costs for the local community.
The total amount will be paid back in 2019/20, when FiOS’ account will be set to reflect its contribution.
The move is expected to boost FiOS’s finances.
FiOS has raised €2.8m in the past year to help with the cost to support players.
The club is currently in a difficult financial position.
It was last in Serie A in 2018/2019 and is on the verge of being eliminated from the competition in the Champions League.
The sale of star player Alessandro Nesta to Paris Saint-Germain has put a huge dent in FiOS finances.
Nesta is set to leave the Giallorossi for a reported €10m, which will leave the club with a budget of just €1,873,000.
The loss of Nesta and the financial crisis at the club has seen FiOS sell three players in the last three months, including Mario Mandzukic, Stefano Sturaro and Gianluigi Donnarumma.
The two players who have been the most costly players in FiOs finances are Mario Mandziukic and Stefano Storaro.
Fiorentino are currently fifth in Serie B, just two points behind leaders Juventus.