Juventus have set the financial terms of another demanding chapter in their rebuilding, approving a €66 million loss for the 2025-26 financial year while preparing a capital increase of up to €250 million.
The result marks a ninth consecutive year in the red for the Turin club. The deficit has widened from €58.1 million in 2024-25, although it remains within the club’s own expectations and comes alongside a reduction in operating costs.
Quick facts
- Juventus recorded a €66 million loss in 2025-26.
- Operating costs fell by €42.1 million, from €405.7 million to €363.6 million.
- Total revenue declined 10.4% to €474.7 million.
- A shareholders’ meeting at Allianz Stadium is scheduled for 3 November.
- The proposed capital increase could reach €250 million, with Exor immediately advancing €60 million.
- Juventus expect another negative result in 2026-27 after missing the Champions League.
The board sees the position as manageable, pointing to more efficient day-to-day administration. The club said it had lowered costs without abandoning spending aimed at sporting competitiveness or the further development of the Juventus brand.
Revenue fell from €529.6 million to €474.7 million. The principal reductions came from player-trading income, down €51.9 million, and from broadcasting and media receipts, down €31.9 million.
The previous accounts had benefited from €27 million generated by the Club World Cup, a factor absent from the latest set of figures. Sponsorship, however, moved back above the €120 million mark, rising from €105.6 million to €125.9 million.
Europe remains central to the recovery
Juventus have also revised projections for the financial year ending 30 June 2027 and for the following two campaigns. The club expects a further loss in 2026-27, with gradual improvement anticipated thereafter.
The absence of Champions League football is central to that forecast. Europa League participation brings a smaller return, and Juventus have made clear that a return to results closer to their traditional level will be important both on the pitch and in the accounts.
That means more than simply restoring Champions League qualification. Last season’s sixth-place league finish underlined how far Juventus had moved from the standards on which their financial planning is built.
Exor backs a new capital plan
Shareholders will be asked on 3 November to approve a capital increase worth as much as €250 million. The funds are intended to reinforce the club’s balance sheet, support the squad’s competitiveness and help finance work on strategic property assets, particularly Allianz Stadium.
The proposal also covers brand development and longer-term financial sustainability. It would be Juventus’ fifth major equity operation in seven years, following increases of €300 million in 2019, €400 million in 2021, €200 million in 2023 and €98 million in 2025.
Those previous measures totalled €998 million; with the new operation at its maximum value, the overall figure would reach €1.25 billion. Majority shareholder Exor has confirmed its support and will provide an immediate €60 million advance, describing the payment as further proof of its long-term commitment to the club.
There were also reports that Ginevra Elkann, sister of Exor chief executive John Elkann, could replace Gianluca Ferrero as Juventus president. The possibility was denied, though the shareholders’ meeting may still bring clarity on the presidency.
Stadium assets offer a brighter line
Amid the broader decline in revenue, Juventus identified strong returns from activities around the stadium. League-match income, the Stadium Tour and the Juventus Museum all reached record levels, while Allianz Stadium reported average occupancy of 97.6%.
JHotel and JMedical each posted their best results since opening, adding weight to the club’s argument that its business extends beyond matchday football. Allianz Stadium will host the 2028 Conference League final and is due to be included in the stadium dossier the Italian Football Federation will present to UEFA in Nyon for Euro 2032.
For Juventus, the balance sheet is therefore tied closely to the next sporting cycle. Cost control and shareholder support have bought time, but a return to the Champions League — and to a stronger league position — remains the clearest route towards a more stable future.
