In order to figure out what Agnelli means by a "significant budget" we would need to look at the accounts and the revenue projections. A lot of that comes down to TV & Media Rights which make up close to 60% of Revenue. Only 14% comes from ticket sales and 17% comes from sponsorship and advertising.
In the FY12 (June year end) financial year, Juve posted EU184m in Revenue but made an operating loss before tax of EU41m as operating expenses were EU255m (EU150m of which was salaries for wages and technical staff).
It is expected that for FY13, Revenue will be EU269m (a 46% increase) but despite making a profit for the 1st 3 quarters, the Juve board were forecasting a small operating loss - perhaps there are player bonuses to be paid in Q4. When I first read that I thought it was conservative.
So it really depends on what revenues do. TV rights income is subject to Serie A rights. The demise of the league may put big revenue increases at risk but the fact that Juve have won the league for 2 consecutive seasons and performed well in Europe may mean that going forward Juve may be able to negotiate a higher slice of that TV rights pie.
Bear in mind as well, that if player wage cost is say EU130m - that is GROSS. So when you hear that Higuain will get paid EU4.5m a year, that is commonly referred in Italy to his NET wages. That means that within Juve's expense line, its a EU9m additional cost.
Putting transfer fees aside here, Llorente will cost Juve EU8-9m in wages as well. If you thought we also go for Jovetic and pay him EU3m a season NET. The wage bill for those 3 players would represent a cost of ~EU23m. Of course, there is no more Iaquinta and perhaps one of our other forwards will be let go so my guess is that our total wage bill should be EU15-20m more.
So, Juve would to think they can generate another EU20-30m in revenue to justify the higher salaries.
But its not just that. If Juve paid EU50m for both Jovetic AND Higuain, that would be amortized over say a 5 year contract. So thats another EU10m a year.
Bottom line, it can be done as long as Agnelli foresees a EU20-30m lift in Revenue and that will mostly have to come from TV rights and Advertising because it is unlikely that the stadiums will be any more fuller next season and also unlikely they can raise ticket prices much given the economy.