According to Gazzetta dello Sport, Juventus needs to complete a transfer by June 30 to generate an accounting profit of approximately 12 to 13 million euros.

June 30 marks a critical date for football clubs: at the end of June each year, teams close their books and submit financial reports to UEFA to verify compliance with Financial Fair Play regulations. In recent years, many Serie A clubs have used this deadline as a final opportunity to boost revenues and balance their accounts. Juventus also intends to complete a sale by June 30 that could deliver a positive accounting impact of 12 to 13 million euros. Here's why.

Why must Juventus complete a value-added transaction before June 30?

The latest semi-annual report shows Juventus recorded a book loss of 2.5 million euros and is expected to continue posting losses in the 2025-26 fiscal year. After reducing losses from 239 million euros in the 2021-22 season to 58 million euros in the 2024-25 season, Juventus has postponed its original break-even target from 2027 to the 2027-28 season. The club hopes to reduce this season's deficit; otherwise, it risks repeating last season's situation. Juventus also wants to signal to UEFA its continued financial recovery. Club management has agreed to a "settlement agreement" with UEFA, which will be formally announced soon.

What will the UEFA agreement include?

Once the agreement takes effect, UEFA will waive previous losses, but in exchange, Juventus will accept a financial penalty, with the fixed portion being less than 10 million euros. If the agreement is violated, additional penalties will be imposed. The club will also face a sporting sanction affecting its European competition squad list. Specifically, the total squad cost submitted by Juventus in August—including salaries, amortizations, and other expenses—must be at least 1 euro lower than the squad submitted in February this year. For the next three years, Juventus must also comply with "football profitability rules," meaning cumulative losses across the three fiscal years from 2026-29 cannot exceed 60 million euros.

Who is most likely to provide the funds for this value appreciation?

All signs point to Fabio Miretti. The academy product's remaining book cost is negligible at approximately 320,000 euros as of June 30, 2026.

What are the consequences if Juventus fails to complete this value appreciation?

From a practical standpoint, there will be no immediate decisive impact. The only consequence is the inability to project a positive signal of financial recovery to the outside world, and it may force the club to concentrate player transfer income into subsequent transfer windows to offset the revenue gap caused by failing to qualify for the Champions League.

How does Juventus's situation differ from Roma's?

Unlike Juventus, Roma already signed a "settlement agreement" with UEFA in 2022, committing to limit maximum losses to 60 million euros over three fiscal years. Roma posted losses of 81.4 million euros and 53.9 million euros in the last two fiscal years respectively and is expected to continue incurring losses this season. Therefore, Roma needs to complete a value appreciation of 50 to 60 million euros by tomorrow to mitigate potential UEFA penalties arising from non-compliance with the agreement.

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