The 32-year-old was on the outside looking in after a disappointing 2019/20 campaign, with new coach Andrea Pirlo recently confirming he wasn’t part of his plans.
Although Juventus save money by ridding themselves of Higuain’s contract, his early departure will result in a loss of €18.3 million.
“Juventus Football Club S.p.A. announces the mutual termination of the contract with the player Gonzalo Gerardo Higuain,” read a statement on the club’s official website.
“This operation generates a negative economic effect of approximately € 18.3 million on the 2019/2020 financial year due to the residual value write-down of the registration rights of the player.
“Juventus’ Board of Directors has been convened for tomorrow, 18 September 2020, to examine and approve the new draft financial statements as of 30 June 2020 in order to take into account the negative economic effect on the 2019/2020 financial year generated by the aforementioned contractual termination.
“The draft financial statements as of 30 June 2020 will be submitted to the Shareholders’ Meeting already called for 15 October 2020.”