La Gazzetta dello Sport report how Juventus are looking to stabilize finances over the coming years, while simultaneously growing and solidifying the club’s sporting competitiveness and brand. The newspaper details how the path and objectives are outlined in the Bianconeri’s business plan targeting 2026-27, which hinges on Juventus’ consistent presence in the Champions League. Without these tournaments, which have been directly linked to a negative impact totaling €115 million, the balance sheet as of June 30, 2024, is estimated to close with a loss between €150 to €200 million. The €200 million capital increase aims to offset damages from sanctions resulting from investigations into the club’s finances.
However, this capital increase serves more than one purpose. According to La Gazzetta dello Sport (via Calciomercato), the €127 million advanced by Exor covered the absence from UEFA competitions and settled debts from previous player acquisitions, while the remaining €69 million will “finance the total net financial needs of the group for the 12 months following the date of the prospectus, estimated at around €48 million, and for the remaining part, to reduce the level of non-current financial indebtedness.” The club hasn’t provided further details, but the €48 million financial needs for the next 12 months include the net outlay planned for the summer 2024 transfer window.
Juventus have earmarked a margin of several tens of millions for the summer to strengthen the squad, net of sales. Qualification for the Club World Cup, not included in the business plan, inevitably bolsters that margin. However, this is contingent on two conditions: securing a spot in the next Champions League and reducing the payroll costs of registered personnel. The management’s aim is to continue the work of recent years, shedding expensive contracts like those of Di Maria, Bonucci, and Paredes. In June, Juventus will bid farewell to Alex Sandro and Rugani, with Paul Pogba likely to follow suit soon.
Managing loaned players will be crucial. Arthur alone carries an annual amortization cost of €16 million. Lazio has an obligation to buy Lorenzo Pellegrini and Nicolo Rovella, while Koni De Winter, Matias Soulé, Enzo Barrenechea, Kaio Jorge, and Dean Huijsen, currently on loan, represent potential revenue to reinvest or low-cost first-team replacements.
In 2024-25, with the Champions League and Club World Cup, characteristic revenues will exceed €400 million, while player salaries, already down to €240-245 million in 2023-24, must decrease further to foresee a significant reduction in losses by 30/06/2025. Eventually, the squad cost—the sum of first-team/staff salaries, amortization, and agent fees—must align with UEFA’s squad cost ratio, i.e., 70% of total revenues. Characteristic revenue expectations average between €400 and €430 million. TV rights are expected to increase slightly, while sponsorships may slightly decline.
The business plan does not include monetizing digital activities that have made Juventus the foremost Italian brand on social media, with 165 million followers, 92% of whom are international. Average proceeds from player trading are expected to be lower than the €70 million recorded in 2022-23. Assuming a turnover of €450-475 million (including transfers), Juventus could spend €320-330 million on squad management (70% of UEFA), roughly €50 million less than this year. Massive sales are not ruled out but are based on opportunities and reinvestments, meaning there’s no immediate need to sell prized assets like Vlahovic in the summer.
