Juventus forecast another operating loss as Champions League return becomes crucial
TURIN, ITALY - MARCH 07: A detailed view of the corner flag inside the Juventus Stadium prior to the Serie A match between Juventus FC and Pisa SC at Juventus Stadium on March 07, 2026 in Turin, Italy. (Photo by Giuseppe Cottini/Getty Images)
Juventus expect to make another operating loss this season, and a return to the Champions League is key to the club’s financial recovery.
According to Calcio e Finanza, the forecasts appear in the information document for the club’s capital increase. The board updated them on 29 September after the first phase of the 2026-27 transfer window and a disappointing previous campaign.
The Bianconeri expect both their operating result and operating cash flow for 2026-27 to be negative, mainly because they are in the Europa League rather than the Champions League. The document doesn’t say how big the loss will be.
Juventus’ financial outlook
Juventus posted a €66m loss in 2025-26, up from €58.1m the year before, and revenue fell to €474.7m.
The club are forecasting gradual improvement in 2027-28 and 2028-29, but that depends heavily on Champions League qualification in both seasons. They admit this is outside their direct control. Spalletti’s side are seventh, six points behind fourth-placed Milan.
Juventus estimate they’ll need around €112.5-125m from the €250m capital increase to cover 2026-27 and, to a lesser extent, 2027-28. In the longer term, they’re aiming for more than €500m in annual revenue, including over €100m from the stadium, and an operating break-even, although the club describe these targets as “aspirational”.
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