Juventus face fresh financial losses as Champions League return becomes vital

Juventus are expecting another season of operating losses, with their failure to qualify for the Champions League continuing to put pressure on the club’s financial plans.

The Italian club’s return to Europe’s leading competition has become a central part of its strategy to restore financial stability and increase revenue in the coming years. However, Juventus’ management acknowledges that qualification is not directly within its control.

According to Football Italia, citing Calcio e Finanza, the projections were included in the club’s information document for a €250m capital increase. The board updated the document on 29 September, after the first phase of the summer transfer window for the 2026-2027 season and following Juventus’ disappointing results in the previous campaign.

The Bianconeri are forecasting both a negative operating result and negative operating cash flow during 2026-2027. The main reason is their participation in the Europa League instead of the Champions League, although the document does not state the expected value of those losses.

Juventus recorded a loss of €66m for the 2025-2026 financial year, compared with €58.1m the previous year. Revenue also fell to €474.7m, underlining the continuing financial strain affecting the club.

The club expects its financial indicators to improve gradually during the 2027-2028 and 2028-2029 seasons. Those projections depend heavily on Juventus qualifying for the Champions League in both campaigns, a condition the club admits it cannot guarantee.

On the pitch, Luciano Spalletti’s side are seventh in Serie A, six points behind fourth-placed Milan. Securing a position that would provide access to the Champions League is therefore an immediate sporting and financial challenge.

Juventus missed out on the 2026-2027 Champions League after finishing sixth in Serie A with 69 points. They ended two points behind fourth-placed Como and one point behind fifth-placed Milan, leaving them to compete in the Europa League and lose the significant income associated with the continent’s main club competition.

As part of its financial plan, Juventus estimates that it will need between €112.5m and €125m from the total €250m capital increase. The money would cover the club’s requirements for the 2026-2027 season and, to a lesser extent, part of its commitments for 2027-2028.

Over the longer term, Juventus want annual revenue to exceed €500m, with income from their stadium rising above €100m. The club is also targeting operating break-even, allowing revenue and operating expenditure to balance.

Juventus’ management describes those targets as “ambitious”. Their achievement remains dependent on several conditions, most importantly restoring the team to the Champions League, which would provide greater financial resources and help the club overcome its current difficulties.