The return of Giovanni Carnevali to Italian football’s highest stage has brought with it an immediate and unmistakable shift in Juventus’s transfer philosophy. Where the Comolli era was characterised by international recruitment, data-driven profiling, and a series of expensive signings that failed to deliver, the new chief executive is investing where he knows best — in the Italian market, in players he understands deeply, and in deals structured to generate value rather than simply acquire it.
Muharemović: The Blueprint Deal
The imminent confirmation of Tarik Muharemović’s return to the Continassa encapsulates everything the Carnevali method represents. A player developed in Juventus’s own system, sold to Sassuolo — a club Carnevali ran for over a decade — and now coming back for €18 million, of which Juventus effectively receive half back through their retained sell-on clause. The net outlay is approximately €9 million for a 23-year-old Bosnian international who has just distinguished himself at the World Cup. It is, as Tuttosport confirmed this morning, a deal driven not only by financial intelligence but by personal relationships — Kenan Yıldız’s close friendship with Muharemović playing a meaningful supporting role alongside Carnevali’s own existing rapport with the player.
Spalletti’s assessment is equally clear-eyed: he appreciates the physicality and forward-thinking mentality Muharemović brings, whilst acknowledging there are areas — defensive marking and ball distribution — that require further development. For a 23-year-old with an exceptional ceiling, that is not a concern. It is a project.
Kolo Muani: Almost Done
On the attacking front, Kolo Muani’s return is all but confirmed. Following the breakthrough meeting in Rimini, the deal with PSG has entered its conclusive phase — a paid loan with a conditional obligation to buy at just above €30 million, backed by a five-year personal contract at €5 million per season. The French striker is expected at the Continassa by 13 July for the start of pre-season, barring a last-minute complication.
The Lucumí Masterstroke in Waiting
Perhaps the most telling example of Carnevali’s strategic patience, however, concerns Jhon Lucumí of Bologna. Despite confirming publicly in Rimini that he would not pay the Colombian’s €28 million release clause at current asking prices, the new CEO has not abandoned the pursuit — he has simply timed it with extraordinary precision. The release clause expires on 15 July. From that moment, Lucumí will have just twelve months remaining on his Bologna contract — a situation that eliminates the Emilian club’s bargaining leverage almost entirely and that, combined with the near-impossibility of a renewal given the current state of negotiations, will compel them to accept a significantly lower fee.
Lucumí himself is understood to be hoping for a move to Juventus, knowing that Premier League interest — from mid-table clubs rather than Champions League regulars — represents a significantly less compelling footballing proposition. Lloyd Kelly, meanwhile, is being made available for sale, with his return to the Premier League likely to generate funds that can be redirected towards the Colombian’s acquisition.
A Rebuild With a Clear Identity
Three weeks into his tenure, Carnevali’s Juventus is already looking like a different institution. Younger, more Italian, more intelligently structured. The financial framework of the UEFA Settlement Agreement, far from being an obstacle, has become the context in which his natural approach — buying smart, leveraging relationships, thinking long-term — flourishes most naturally. The era of vanity signings and expensive mistakes is over. The era of the Sassuolo method, applied at the Allianz Stadium, has begun.
