The debt is definitely manageable & liquidity is fine. I mean the company just raised 5 year paper at 3.375% - . Sports clubs generally speaking appreciate every year in value, which is why Roma has been to generate a nice return for unit holders despite burning cash every year. Juventus is valued at $1.824B, and has ~$376 in debt net of cash: 21% of the capital structure is debt. Growth is accelerating, which will continue to support the valuation. And if things get tight, there are a number of options:
1) Issue Equity
2) Tap the bond market again for low cost debt
3) Sell players
The most important thing is growing the brand because if you become a top 3 club in the world, you can start to actually generate a sustainable cash profit, which very few football clubs do. So the most important thing now is that you don't stop investing and have a clear plan for the next 5 years. With Ronaldo, there is the first path to becoming a commercial power house in a long time. We don't have the luxury of an EPL, which will grow TV revenues regardless of who wins.
The other stuff on Sarri, Higuain - that's opinion, so yeah I understand the skepticism. We shouldn't be worrying about the financial position though.