Juventus wins approval for €250m raise as losses mount, Exor backs the plan
What's the deal? Juventus shareholders on Tuesday authorised a capital increase of up to €250 million, backed by majority owner ExorDealroom has a profile for this one. Try Dealroom →. At a meeting at the Allianz Stadium, 99.9% of shareholders approved the mandate alongside accounts showing a €66 million net loss for the year to June 30, 2026.
Why now? The club missed Champions League qualification, cutting broadcast, prize, and matchday income. The 2025–26 loss widened from €58.1 million a year earlier, and management expects another loss this year because Europa League revenue trails Champions League earnings.
What's the endgame? Roughly €100 million could go toward sporting investment, with the first team the priority in the January window. Chief executive officer Giovanni Carnevali also outlined a new scouting department and an integrated Next Gen and youth project to rebuild talent pathways.
The numbers underline the strain. Consolidated equity stood at €11.5 million at June 30, down from €13.2 million a year earlier, after a November 2025 raise added about €67 million that the year's loss nearly erased.
Who's backing it? Exor, which holds 65.4% of the share capital, has pledged to subscribe its stake and cover any unsubscribed portion, and has already advanced €60 million. That makes the raise effectively secured and provides immediate cash. If the full €250 million is drawn, Exor's share would reach roughly €163.5 million.
What could go wrong? Chief financial officer Stefano Cerrato warned that a UEFA settlement agreement will sharply limit spending. "We have a settlement agreement with UEFA that does not allow us to do what we would like," Carnevali said, adding the club will "work to make Juve a great club."
The signal: This is the fifth capital increase since 2019–20, following roughly €998 million raised across four earlier rounds, of which Exor guaranteed about €638 million. The pattern shows a club leaning on recurring owner support — and a return to self-funding that remains unresolved.
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Image credit: Generated with Gemini
