a capital increase for a public company usually means that the company has to issue new stocks ("seo"). an seo might be done in three ways: non-dilutive, dilutive, or mixed. if someone thinks that it'll be a delutive seo, he might translate it into "selling x % of the club". tbh i didn't read everything yesterday, but based on the initial rumors, i suspect the capital raise will be funded by the current majority owners, so i don't expect a major change in the ownership structure.
https://www.calcioefinanza.it/2019/10/24/agnelli-aumento-di-capitale-non-necessario-e-una-scelta/ - they are quoting agnelli saying the capital increase wasn't a necessity but rather a strategic decision to provide funds for the growth process, competitiveness, increase in operating revenues, improving brand visibility, and consolidation of the balance. saying that it happened because of the current wage bill is a bold statement, not only because agnelli never said this, but because while the club's wage bill is gigantic compared to what we had like 10 years ago, it's still sustainable. i think the management really wants to keep up with the big boys.
btw i think agnelli forgot to mention two things: the net debt almost tripled in recent years, and the last time i checked, the club's liquidity was pretty poor too. based on this, the 40m loss, and paratici's "nobody's safe, we can sell anyone" comment, i do expect fc plusvalenza doing his usual summer routine next year too.