Juventus forecast another operating loss as Champions League return becomes crucial

Juventus forecast another operating loss as Champions League return becomes crucial 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. SPA, BELGIUM – JULY 28: John Elkann, Chairman and CEO of Ferrari looks on, on the grid prior to the F1 Grand Prix of Belgium at Circuit de Spa-Francorchamps on July 28, 2024 in Spa, Belgium. (Photo by Mark Thompson/Getty Images) 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”.