Juventus forecast another operating loss as Champions League return becomes crucial

Juventus anticipates another financial loss this season, with a return to the Champions League seen as vital for their recovery. According to a document for the club's capital increase, as reported by Calcio e Finanza, the club's board updated these forecasts on September 29, following their poor previous campaign and the initial phase of the 2026-27 transfer window.

The Bianconeri forecast both their operating result and operating cash flow for the 2026-27 season to be negative, primarily due to their participation in the Europa League instead of the Champions League. The document does not disclose the exact magnitude of the loss. Despite posting a €66m loss in the 2025-26 season, an increase from €58.1m the previous year, and a decline in revenue to €474.7m, Juventus projects gradual improvement in the 2027-28 and 2028-29 seasons, contingent heavily on Champions League qualification in both years.

However, the club acknowledges that this outcome is largely beyond their control. To cover the 2026-27 and, to a lesser extent, 2027-28 seasons, Juventus estimates they will require approximately €112.5-125m from the anticipated €250m capital increase. In the longer term, they aspire to achieve over €500m in annual revenue, including more than €100m from the stadium, and aim for operating break-even, although these targets are described as "aspirational".