Juventus’ poor financial situation cannot be entirely blamed on the Cristiano Ronaldo transfer, with other factors playing a more important role.
The Bianconeri, whose finances are currently being investigated by the Turin Public Prosecutor’s Office, are in a tough spot, with over half a billion euros worth of investment not paying off.
La Gazzetta dello Sport reports that the issues began with the Gonzalo Higuain deal. In the 2016/17 season, the value of the squad on the balance sheet rose from €186m in 2015/16 to €302 m. The Turin club paid €91m for the Argentinian striker and gave him a salary of €7.5m net per season, the start of the club’s financial troubles.
The Ronaldo deal cost €277m in total, accounting for his transfer fee, salary and other costs. The transfer did pay off to some extent, with the Portuguese star scoring 101 goals across three seasons, and so this is not the true source of the club’s issues.
Examining the Higuain deal, the total cost was €122m in total – €91m in transfer fees, €45m in salary and severance fees, €4m in additional costs, minus the €18m earnt from the loan to Milan and Chelsea. Whilst his goals were important for the 2017 and 2018 league titles, this was not enough to justify the high costs.
The Douglas Costa transfer was also expensive, costing €87m in total between the €51m transfer fee and his salary. Arthur was also a poor investment, with his total cost being €85m, although this does include the exaggerated player value of €72m.
The investments made in young talents Federico Bernardeschi and Dejan Kulusevski have also not paid off. The two players cost €40m and €35m respectively, with their total costs adding up to €73m and €49m when accounting for salaries and commissions.
Another set of issues stem from the free signings made. Aaron Ramsey’s total expenses have added up to €44m in total, accounting for the €9m in commissions and his salary. Adrien Rabiot’s total cost is currently €29 million, similar to Marko Pjaca, who has cost the club €32m.
Cristian Romero’s deal has also cost Juventus dearly; he was purchased for €28m, minus €3m in add-ons, and he was promptly sold to Atalanta for €15m, who then sold him to Tottenham for €50m plus add-ons.
Adding up the total costs of these nine players (not including Ronaldo) sees the total bill sit at over €500m, a large amount for investments that have not particularly paid off, leaving the club in their current precarious financial position.