Juventus suffer biggest loss after releasing Higuain for free, 4 years after paying €90M

Argentine striker Gonzalo Higuain's tumultuous stint with Serie A champions Juventus came to an end on Thursday after the two parties agreed to terminate his contract mutually. The striker's departure has accounted for hefty financial distress for the Old Lady, having spent a mammoth €90 million to sign him from Napoli in 2016. Meanwhile, reports of Higuain transfer to Inter Miami have begun doing the rounds.

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Higuain to Inter Miami: Transfer to impact Juventus financially 

Juventus confirmed that Gonzalo Higuain has agreed to bring down the curtains on his time at the Allianz Stadium. The player lasted three seasons with the Bianconeri. However, his departure has had severe financial ramifications for Juventus. Reports suggest that the Higuain transfer has set an unwanted record for Juventus, having suffered the heaviest loss by any club due to this deal. 

Juventus, while announcing the mutual termination of the contract, have also confirmed the financial losses that shall accrue upon them due to his free transfer. The statement read: "This operation generates a negative economic effect of approximately €18.3 million on the 2019-2020 financial year due to the residual value write-down of the registration rights of the player."

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Higuain to Inter Miami: Juventus' financial losses aggravate 

The economic losses will now pile up on Juventus' already depreciating finances. The club has reported losses for the third time in a row, largely down to the coronavirus pandemic and the subsequent loss in revenue. The club's first-team players had agreed to a massive pay cut to help the club in times of distress last season. 

According to a statement released by Juventus, the Old Lady has suffered losses estimated at €71.4 million this year. The loss has increased further by €31.5 million from the previous year's financial statements. A shortfall in the income from the fans and merchandise sales seem to account for a major chunk of the loss. 

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Higuain to Inter Miami reportedly agreed

Meanwhile, Higuain leaves Juventus with a decent stint that saw him rise as the fan-favourite at the Allianz Stadium in his first season. Having emerged as the Serie A top scorer for Napoli, the Argentine was roped in by the Serie A champions for a reported fee of €90 million. However, the following seasons saw him struggle at the club. In all, he racked up 148 appearances for the Old Lady, netting 66 times.

He also played a pivotal role in Juventus' dream run in the 2016-17 Champions League season, albeit the end was regretful, marked by a final defeat against his former club Real Madrid. The striker is now set to ply his trade in Major League Soccer (MLS) with Higuain to Inter Miami reports doing the rounds. The club is co-owned by Manchester United legend David Beckham. Higuain will join former Juventus teammate Blaise Matuidi in the MLS in Miami. 

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Image courtesy: Juventus Instagram