Juventus have announced that its Board of Directors has approved a new capital increase worth approximately €1.5 million. The decision, officially confirmed through a corporate statement, follows the renewal of the board during the Shareholders’ Meeting held on November 7, 2025.
According to the statement, the club’s board has resolved to execute the delegation under Article 2443 of the Italian Civil Code, authorising a divisible, paid capital increase up to a nominal maximum of €1,516,487.24 through the issuance of up to 37,912,181 new ordinary shares. The new shares—representing around 10% of outstanding shares before the increase—will be offered without pre-emptive rights, in line with Article 2441, paragraph 4, of the Civil Code.
The offering will be directed to qualified investors in Italy, across the European Economic Area, and in the United Kingdom, as well as institutional investors outside these regions, excluding jurisdictions such as the United States, Canada, Japan, and Australia, unless legal exemptions apply. In the U.S., the offer will be limited to qualified institutional buyers (“QIBs”) under applicable securities law exemptions.
The capital raise aligns with the updated Strategic Plan 2024/2025–2026/2027 and aims to reinforce three key areas:
• Strengthening the club’s capital structure.
• Supporting the achievement of strategic objectives such as international brand expansion and debt reduction.
• Maintaining top-level competitiveness in domestic and global football.
The 37.9 million new shares will be sold through a private placement to institutional investors using an accelerated bookbuilding process. The offer will proceed without a public prospectus in accordance with relevant legal exemptions.
Major shareholders have signalled their full support for the operation. Exor N.V., which holds approximately 65.4% of Juventus’ share capital (representing 78.9% of voting rights), has committed to subscribe in full to maintain its ownership level and avoid dilution. Similarly, Tether Investments S.A. de C.V., which owns around 11.5% of the capital, has confirmed its intention to participate proportionally and may also consider taking up any unsubscribed shares.
Juventus has instructed UniCredit Bank GmbH, Milan Branch—acting as global coordinator and sole bookrunner—to manage the offering. The bank will contact qualified investors and coordinate the allocation process, aiming to broaden Juventus’ shareholder base and improve market liquidity and stability of its shares. The club has agreed to a 90-day lock-up period following the transaction, in line with market practices for similar deals.
The bookbuilding process will begin immediately, with Juventus reserving the right to modify or close it early. The final share price will be set based on market demand and in accordance with principles defined by the board, supported by Deloitte & Touche S.p.A., which provided its independent opinion.
If fully subscribed, Juventus’ share capital will increase to approximately €16.73 million, represented by about 417 million ordinary shares. The new shares will be listed on Euronext Milan under the same conditions as those currently in circulation.
