By Andrea Caropreso
Index
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A sign of how much football has changed is that today, securing fourth place—useful for qualifying for the next Champions League—can be more valuable than winning a trophy like the Coppa Italia. It’s no coincidence that in Turin, on the Juventus side, the main (minimum) goal since last summer has been to earn a spot in Europe’s elite competition.
Juventus is currently engaged in a financial recovery plan, which includes banking on the millions from the lucrative new Champions League for at least the next three years. This goal also involves consistently reaching the final 16 of the tournament. A target that, this season, has already failed, resulting in the loss of a potential income of €15 million.
Revenue
For a club like Juventus, qualifying for the next Champions League can be worth between €60 and €100 million. This figure doesn’t just include UEFA prize money for participating in the competition, but also potential income from ticket sales, TV rights, and sponsors.
| Item | Estimate |
|---|---|
| Participation (league access) | €15 million |
| Historical ranking (UEFA coefficient) | €20 million |
| Market pool (Italian TV share) | €10–15 million |
| Performance bonuses (league phase + knockout rounds) | €5–30 million |
| Matchday revenue (stadium) | €10 million |
| Sponsors and additional prizes | €5–10 million |
What happens without the Champions League?
For certain clubs, including Juventus, missing out on Europe’s top competition would trigger a sort of mini financial disaster. This is due to several reasons. First of all, the difference in prize money—and thus income—between the Champions League and the Europa League (let alone the Conference League) is enormous.
In fact, if we look at this season, Inter, who finished fourth in the league phase, earned around €12 million, compared to the €4 million earned by Lazio, who “won” their Europa League group. This gap stems, for example, from the disparity in value between winning a match in the Champions League versus the Europa League: €2 million compared to €400,000 in the secondary competition.
Therefore, for a club like Juventus, with a still-negative balance sheet, even if improving, the ability to play in the Champions League represents the most solid figure to include in the budget presented to shareholders. It’s no coincidence that the season without European cups caused a financial hole that forced Elkann to carry out another recapitalization of €200 million—the third in four years.
Sporting Strategy
Then there’s the pitch. Financial matters go hand in hand with sporting competitiveness and the strategy that management must implement to maintain a high level of the squad. Failing to qualify for the Champions League would force sporting director Cristiano Giuntoli to sell at least one top player.
Another recapitalization would hardly cover the €60–70 million shortfall. That’s why players like Yildiz and Cambiaso could become the right opportunity to recoup what would otherwise have been earned through Champions League participation.
It’s a scenario that those in Turin hope to avoid—especially since Tudor’s arrival has breathed new life into the team. This Easter Monday offers a chance to earn three crucial points away at Parma. A win that could be worth tens of millions in potential income.
By Andrea Caropreso
