Under performing Italian giants Juventus lost 39.5 million euros during the first half of the 2010-11 season, the club's board announced on Monday.
Over the same period of the previous season, the club recorded profits of 14.2 million euros. Revenue for the period was 88.8 million euros, a fall of 29% on the previous year (125 million euros).
The figures can be explained by Juve's participation in the Europa League, which is far less lucrative than the Champions League, and by changes to the way money from television rights is shared between Italian clubs.
The board revealed that it was predicting "a significant loss" for the period between now and the end of the season.
Juve, 27 time Italian champions, lost 2-0 at home to Bologna on Saturday, their fourth defeat in their last six league games. They are currently seventh in Serie A, seven points outside the Champions League qualification limit.