UEFA cracks down on finances: Juventus fined and subject to a settlement; sanctions also imposed on Fiorentina, whilst Napoli and Bologna ‘escape unscathed’

UEFA has announced the results of its regular financial audits of Juventus, Fiorentina, Napoli and Bologna. This marks the first application of the new financial fair play rules

by Marco Bellinazzo

1 July 2026

3' min read

Translated by AI

Versione italiana

Key points

Juventus: the cost of an extraordinary three-year spell
Fiorentina: the issue of squad costs
Napoli and Bologna: balance rewarded

3' min read

Translated by AI

Versione italiana

Juventus has been fined 6 million (plus a further 14 million subject to conditions) for exceeding the maximum three-year losses permitted by UEFA and has entered into a settlement agreement with the latter. Fiorentina has also been fined for exceeding the 70 per cent threshold in the 2024/25 season in terms of the ratio of total labour costs to revenue. Napoli and Bologna were also found to have exceeded the threshold; however, as they had accumulated profits and complied with the maximum permitted deficit rule, they faced no consequences.

This is the provision set out in UEFA’s press release of 30 June regarding the outcome of the regular financial audits to which clubs participating in European competitions are subject. With regard to financial fair play, it should be noted that this marks the first full implementation of the new rules introduced following the pandemic.

UEFA no longer aims merely to sanction clubs that fail to comply with the rules, but intends to guide them towards models of financial sustainability through gradual measures, such as settlement agreements, interim targets and conditional sanctions. In short, this is no longer a static assessment, but a dynamic one, designed to take into account clubs’ ability to generate revenue, even in the event of temporary deviations from the parameters.

Juventus: the cost of an extraordinary three-year period

Juventus has therefore signed a settlement agreement with Nyon for breaching the so-called ‘football earnings rule’, one of the two pillars of the new European financial fair play regulations, which imposes a maximum cap on aggregate losses of 60 million over the three-year monitoring period, net of certain positive costs (investment in youth academies, infrastructure and the women’s game). Over the 2023–2025 period, Juventus recorded a total loss of 381 million (199 million in the 2023–24 season alone, following their exclusion from cup competitions).

The accumulated deficits of the Turin-based club made it inevitable that the Club Financial Control Body (CFCB) would intervene, imposing a three-year recovery plan running until the 2028/29 season.

The financial penalty imposed on Juventus is structured in line with UEFA’s new approach: an immediate fine of €6 million, plus a further €14 million, the payment of which is conditional upon compliance with the interim targets set out in the settlement agreement and, in any event, full adherence to the ‘football earnings rule’ over the three-year period 2025–2028. The maximum penalty of 20 million can therefore be largely avoided if the club demonstrates that it is within the parameters.

Juventus will also be subject to restrictions on the composition of its Europa League squad (the cost of which – including wages, amortisation and other expenses – must not exceed that of the squad submitted last February) and, in the event of non-compliance, to progressively stricter restrictions, up to and including exclusion from European competitions.

Juventus, however, has already been working in recent years to reduce its financial imbalances, to the extent that it has complied with the ‘squad cost ratio’ (i.e. the ratio of squad costs to turnover) in both the 2024 calendar year and the financial year ending 31 December 2025.

Fiorentina: the issue of squad costs

Fiorentina, on the other hand, was sanctioned precisely for breaching the so-called ‘squad cost rule’ – that is, the 70 per cent limit on the ratio between squad costs (salaries, amortisation of transfer fees and agents’ fees) and revenue (TV rights, sponsorship, ticket sales and the three-year average of capital gains). The club was fined 6 million euros.

Napoli and Bologna: balance pays off

UEFA has also assessed the situations of Napoli and Bologna. Both clubs appear to have exceeded the 70 per cent threshold for squad costs in the 2025 calendar year, but have not been subject to sanctions.

The two clubs, which competed in UEFA competitions last season, have in fact, over the three-year period under review, offset this overspend with the surplus revenue generated in previous financial years and have therefore complied with the first pillar of Financial Fair Play, thereby maintaining an overall trajectory consistent with the principles of economic sustainability.