Juventus recorded losses of €89.7 million for the financial year to 30 June, the Italian league champions announced on Thursday.
Club president Andrea Agnelli chaired the Ordinary Shareholders' Meeting in Turin through video conference because of the coronavirus pandemic.
And the nine-time reigning Serie A champions reported a deficit which included the €39.9m shortfall from the previous financial year.
"The Ordinary Shareholders' Meeting approved the financial statements as of 30 June 2020, reporting a loss of €89.7 million (compared to a loss of €39.9 million in 2018/2019), which was covered by using the share premium reserve," Juventus said in a statement.
The Turin giants also announced a new organisational structure with Federico Cherubini taking over as new football director.
Juventus' "new organisational structure envisages the concentration of the club's activities in two macro-structures: the Football Area and the Business Area".
"Federico Cherubini assumes the role of Football Director, directly reporting to Fabio Paratici, who maintains the direct responsibility of the First Team," the team added.