Juventus shares fell about 8.7% on Wednesday, reaching €1.58, their lowest level since June 2016, after the Italian football club announced plans to seek shareholder approval for a capital increase of up to €250 million. The fundraising would be conducted in one or more tranches by the end of 2026 and is intended to strengthen Juventus’s equity base and sporting competitiveness, support potential upgrades to strategic real estate assets including its Turin stadium, and improve financial sustainability. Controlling shareholder Exor, the Agnelli family’s holding company, will back the plan and immediately inject €60 million. The latest transaction would be Juventus’s fourth capital increase since 2019, taking the total raised through such operations to €1.15 billion. Juventus reported a €66 million loss for the year ended June 30, compared with €58.1 million a year earlier, and forecast another loss after failing to qualify for this season’s UEFA Champions League. Kepler Chevreux said the club’s 2026 results were weaker than expected, partly because of the €23 million acquisition of J|Hotel, and placed its rating under review while cutting estimates over a more cautious view of 2026-27 media contracts. Juventus expects a progressive improvement over the following two years and last recorded an annual profit in fiscal 2016-2017.