Exor's Elkann backs Agnelli's efforts to make soccer "more sustainable"

Exor Chief Executive John Elkann said on Friday that reforms to the soccer industry proposed by the chairman of Juventus were aimed at making it "more equitable and sustainable", in a sign of support for Andrea Agnelli's European Super League project.

Exor Chief Executive John Elkann said on Friday that reforms to the soccer industry proposed by the chairman of Juventus were aimed at making it "more equitable and sustainable", in a sign of support for Andrea Agnelli's European Super League project. Elkann said in a letter to Exor's shareholders that soccer as a business was suffering structural weakness in Italy and Europe.

"Andrea Agnelli, the Juventus chairman, has, therefore, advocated for changes in the industry's structure and governance to make it more equitable and sustainable for all those who love this sport," the scion of Italy's Agnelli family wrote in the letter. Exor, the holding company of the Agnelli family, controls Juventus with a stake around 64%.

Agnelli was a prime mover in efforts to set up a European Super League last April but the plan fell apart quickly when nine of the 12 clubs involved dropped out. He is also advocating for changes to reduce the power of UEFA, European soccer's governing body.