Juventus's financial difficulties continue as they report losses of 123.7 million euros for the previous season

On Friday, Juventus revealed its losses for the previous season, which came to 123.7 million euros ($131 million), or roughly half of the record loss of 239.3 million euros ($253 million) reported the year before.

Prosecutors in Turin are focusing their lawsuit on the club's finances because they believe there was false accounting. UEFA decided to ban Juventus from this season's Europa Conference League, which is the third tier, as a result of the investigation.

"Partially influenced by the negative effects on revenues and costs related to the outcomes of Italian and international sports proceedings," the club stated in reference to its financial losses.

Juventus only signed one new player before this season because its finances were in bad shape. They bought US winger Tim Weah from Lille for 10.3 million euros ($10.9 million), plus up to 2.1 million euros in bonuses.