Juventus shareholders have approved a capital increase of up to 250 million euros, of which majority owner Exor has already paid 60 million euros. Giovanni Carnevali warned that UEFA’s decision means nothing extraordinary should be expected in January.
Juventus shareholders authorized the board to raise up to €250 million in new capital on November 3 at the Allianz Stadium. Voting was held in the extraordinary part of the meeting and 99.9% voted in favor. The same council approved the 2025/26 accounts.
Part of the money has already been paid. Exor confirmed that it will immediately pay 60 million euros for the capital increase. This fee supports the club’s capital and finances until the board exercises its new powers. The majority owner also guaranteed its 65.4% stake in the raise and any shares left by other investors.
About half of the new capital goes to the balance sheet
Staff will not see the full amount. According to Football Italia, raising the club’s finances this season and next will take 45-50% of what is collected. That basically leaves around €100m for first-team signings ahead of the January window. Corriere dello Sport reports that, apart from keeping capital at an appropriate level, the rest will control debts and keep the team competitive, including transfers.
The accounts show why the balance sheet needs support. The consolidated loss for the 2025/26 season was 66.0 million euros. This is 7.9 million euros more than 58.1 million euros in the previous year. The result was in line with forecasts in the club’s half-yearly report to 31 December 2025. The Board approved the accounts on September 29. Another loss is expected in the 2026/27 season, mainly because Juventus are in the Europa League, not the Champions League.
UEFA calculations keep January ambitions in check
The assembly was Giovanni Carnevali’s first meeting as chief executive. He promised to take the January window seriously. His warning was equally clear. As a serious company, “Juventus” must comply with the agreement with UEFA and does not expect anything unusual.
That agreement was announced on June 30. This is a three-year agreement with the First Chamber of UEFA’s Club Financial Supervisory Authority. This is because Juventus breached UEFA’s Football Profits Rule for three seasons from 2022/23 to 2024/25.
The message for supporters is mixed. The capital increase gives the club fresh resources. Settlement still dictates how quickly that money can be used on the field.
Shareholders have also criticized the club for keeping a low profile in recent years. President Gianluca Ferrero declared Juventus open to dialogue with Tether.
The terms of the UEFA contract make little difference. Failure to meet UEFA-agreed targets for the current season or the next two seasons may result in a club’s UEFA A-list restrictions and additional sporting sanctions. The settlement runs through the 2027/28 financial year.