Why Juventus spent €111M this summer with just one new signing

Juventus have raised eyebrows across the football world after it was revealed they spent €111 million this summer despite signing just one new player, Jonathan David, and even he arrived as a free agent.

The spending spree isn’t the result of a busy transfer window, but rather the delayed financial commitments from deals made under former sporting director Cristiano Giuntoli, who was dismissed at the end of last season.

Giuntoli’s transfer strategy relied heavily on structured deals, often involving loans with obligatory purchase clauses or payments spread out over several months.

Although these deals initially seemed financially manageable, many of the payments have now come due, significantly impacting Juventus’ current budget.

The club is essentially paying today for yesterday’s transfers without seeing fresh reinforcements come in this window.

A key example is Michele Di Gregorio, who arrived from Monza last summer on loan for €4.5 million. Juventus are now paying an additional €13.5 million to finalize the move.

Similarly, Pierre Kalulu joined from AC Milan in August 2024 on a €3.3 million loan, but the club is now obligated to pay a further €14.3 million plus potential bonuses. These payments alone amount to more than €30 million.

The case of Lloyd Kelly is particularly significant. The English defender arrived from Newcastle United in January on a €3 million loan.

Juventus are now obliged to complete the deal by paying another €14.5 million this summer. Kelly’s signing was reportedly one of the final straws that led to Giuntoli’s dismissal.

Nico Gonzalez, brought in from Fiorentina last year, cost Juventus €8 million as an initial loan fee. This summer, they’re required to pay an additional €25 million to secure him permanently.

Meanwhile, Francisco Conceição, who spent last season on a €7 million loan from Porto, did not come with a purchase option.

Juventus were forced to negotiate with Porto and ultimately agreed to a €32 million transfer fee, payable over four years.

Despite all of these hefty payments, Juventus’ only new addition this summer is Jonathan David.

While the Canadian striker joined as a free agent, he still cost the club €12.5 million in commissions and related fees, paid in three installments. So even the “free” transfer came with a significant financial price tag.

The cumulative impact of these delayed payments has left Juventus in a tricky situation. On the surface, the club appears inactive in the transfer market, but in reality, it’s still spending heavily just to fulfill past obligations.

This financial strain is one of the main reasons why Giuntoli was let go, as the consequences of his decisions are only now being fully felt.