Juventus, Elkann opens his wallet: two positions are the priority in the transfer market

With the money that will arrive from Exor, Juventus will also be able to think about new signings

Exor are ready to inject another significant capital increase into Juventus's accounts. At yesterday's board meeting, which ratified the club's ninth straight set of accounts in the red (€66 million as of 30 June 2026), the Board of Directors requested and proposed to the Shareholders' Meeting a capital increase of up to a maximum of €250 million. Of that possible €250 million, €164 million would come from Exor, if the initial figure of the capital increase is confirmed, which we will know at the beginning of November.

Over recent years, Juventus have carried out four recapitalisations totalling €998 million, of which €637 million was paid in by Exor. If the new increase is confirmed, the total invested by the Agnelli/Elkann family holding company in the Juventus world over the past seven years would reach €800 million.

Where will the money from the capital increase go?
But what would Juventus's priorities on the transfer market be in the event of a new capital increase from Exor? It is still too early to say because plenty remains uncertain, starting with qualification for the 2027-28 Champions League and the income that would bring from UEFA. With that money, Juventus can plan one kind of transfer strategy. Without it, they will have to pursue a different recruitment drive. After a year away, Juventus's presence in the 2027-28 Champions League is fundamental for the club's finances, and for sporting competitiveness, but only in May will we know whether Luciano Spalletti's team have secured qualification. For now, the resources from the capital increase will be used to allow the club to think about possible reinforcements in January and to plan, at least in part, for the summer 2027 transfer market. In any case, aside from signings, Juventus will have to budget for a major sale by 30 June 2027.

The priorities are two
With that in mind, Juventus have little choice but to focus most of their spending on midfield and at centre-forward. Beyond the strong start to the season from Douglas Luiz and the few encouraging signs shown by Kolo Muani in the last two matches before the break, those are the two areas where Juventus need top-level additions if they are to raise the quality and truly return to the top. They need a midfielder of international calibre, not least because there is uncertainty over how Locatelli and Thuram will recover from their respective serious injuries, and they need a top-class centre-forward. Those are the two signings Juventus dream of, both the club hierarchy and the manager. Juventus also need, and will continue to need, reinforcements elsewhere, above all in goal (will Vicario be signed permanently? Will Palmisani be bought?) and at full-back, while the one area with no problems, and even an excess of options, is out wide in attack.