Juventus, deficit in the accounts of around €60 million: the priority is to reduce costs, no more capital increases from Elkann
Juventus’ balance sheet remains under strain. The missed income from the Champions League and the reduction in player trading are weighing heavily.
Late September and early October have long been the most delicate time of year from an economic and financial point of view. Clubs must close and approve their financial statements as of 30 June and those accounts show the companies' state of health heading into the future.
This year at Juventus, too, a new chief executive will oversee that process. Giovanni Carnevali now has to make clear, more than ever, the line set for him by the ownership in the running of the club. According to Tuttosport, the starting point will not be easy to handle because, even if it remains only an estimate, the deficit in the accounts should stand at significant figures.
A red worth around 60 million
Compared with the 2023-2024 season, which closed with a €199 million hole, the accounts are clearly improving, but the deficit set to appear in these 2025/2026 financial statements will still be significant.
What lies ahead, in fact, is confirmation of the €60 million loss, with the range running from €58 million to €63 million, from last season, along with a halt to the recovery plan drawn up by the ownership in the strategic plan initially due to expire in 2026, but already extended and pushed back several times.
No more capital increases
According to Tuttosport, the ownership has in effect pulled the plug on any plan to inject more liquidity into the accounts. The latest capital increase came in 2025, the fourth in recent years after those in 2019, 2021 and 2023.
Over the last seven years, John Elkann has opened his wallet to sort out Juventus' accounts once every two years. Right now, though, there is no willingness to go through another recapitalisation.
UEFA fair play and the goal of reducing costs
Why are the accounts so far in the red? On-pitch results, commercial agreements and above all the drop in Player Trading, capital gains and sales, have all weighed heavily. Most worrying of all, though, is the outlook for next season.
Failure to qualify for the Champions League and the revenue that comes with it will hit the 2026/27 accounts. They could also take a hit from a potential fine, and the resulting provision, for breaching UEFA's Football Earnings Rule, up to a maximum of €20 million.
Carnevali will, in essence, be asked to keep cutting costs, with €20 million less than in 2024/25 already included in these accounts, while also making up for the lost income. One priority will be to spread significant amortisation and wage costs. It will not be the only one. Qualifying again for the next Champions League will be even more important.
