Juventus’ Champions League absence puts financial recovery plan under pressure

Juventus are expecting further operating losses in 2026-2027 as the club continues to feel the financial impact of missing out on the Champions League.

The Italian club’s return to Europe’s leading competition has become central to its plans to restore financial stability and increase revenue over the coming seasons.

According to Football Italia, citing Calcio e Finanza, the forecasts were included in Juventus’ capital increase documentation. The club’s board updated the document on 29 September following the first phase of the 2026-2027 summer transfer window and after a disappointing campaign last season.

Juventus are predicting both a negative operating result and negative operating cash flow for 2026-2027. The club attributes the situation largely to competing in the Europa League instead of the Champions League, although the document does not specify the expected size of the losses.

The club 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 pressure on Juventus’ finances.

The board expects the club’s 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, something the club acknowledges is outside its direct control.

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

Capital increase

As part of its financial strategy, Juventus estimates that it will need between €112.5m and €125m from a total capital increase of €250m to cover the requirements of the 2026-2027 season, as well as part of its obligations for 2027-2028.

The club’s longer-term objective is to generate more than €500m in annual revenue, with income from its stadium exceeding €100m. Juventus also want to reach operating break-even, allowing revenue and operating expenditure to balance.

However, the board described those targets as “ambitious”, reflecting the number of conditions attached to achieving them. The most important is a return to the Champions League, which would provide Juventus with greater income and help the club overcome its current financial difficulties.

Juventus failed to qualify for the Champions League in 2026-2027 after finishing sixth in Serie A with 69 points. They ended two points behind fourth-placed Como and one point behind fifth-placed Milan.

As a result, Juventus had to settle for a place in the Europa League and lost the significant revenue associated with participation in the Champions League.