Carnevali responsible as Juventus finances show improvement

Originally posted on Football Italia | By Sam Wilson | Last updated Sep 10, 2026 6:10 AM ET

Since succeeding Damien Comolli as Juventus chief executive, Giovanni Carnevali has stabilized the club’s delicate financial standing while reshaping Luciano Spalletti’s squad.

Carnevali oversaw a comprehensive squad overhaul without exceeding UEFA’s Settlement Agreement boundaries.

Major exits including Dušan Vlahović , Jonathan David, and Loïs Openda funded arrivals such as Randal Kolo Muani, Guglielmo Vicario, and Jhon Lucumí. Although Juventus successfully submitted a lower-cost Europa League squad list, total wage and amortisation costs still rose by 18.92% (around €15m).

SASSUOLO, ITALY – JANUARY 06: Luciano Spalletti head coach of Juventus and Giovanni Carnevali Ceo of US Sassuolo during the Serie A match between US Sassuolo Calcio and Juventus FC at Mapei Stadium Citta del Tricolore on January 06, 2026 in Sassuolo, Italy. (Photo by Alessandro Sabattini/Getty Images)

Juventus still need to sanction another major sale

Speaking to Tuttosport, University of Turin business economics professor Fabrizio Bava explained that Kolo Muani’s heavy financial footprint offset much of the savings from Vlahović’s departure. Consequently, the club face a critical juncture to reach break-even by 2028.

“The likelihood of achieving break-even by 2028 is dropping,” Bava stated. “Juventus must increase revenues or sell valuable assets like Yildiz, Alajbegović, or Bremer.

Without major capital gains and missing out on Champions League revenue, total losses could exceed €100m, making a capital increase almost inevitable.”

To balance the books before the June 30 2027 deadline, Carnevali will still need to sanction at least one major sale.

This article first appeared on Football Italia and was syndicated with permission.

More must-reads: