Haaland has established himself as one of the best strikers in Europe since leaving Red Bull Salzburg for Borussia Dortmund in 2020.
Things might have turned out differently for the Norwegian striker if the Serie A giants decided to sign him in 2017, but Cherubini says there was a reason for that.
"We do, it would be stupid to say something different. However, things must be put into context," the Juventus director told Tuttosport.
"Young players can be scared about going out on loan, we were at the beginning of our U23 project and perhaps the perspective we offered him wasn't too exciting.
"Maybe the idea of going out on loan wasn't ideal for a player like him. Maybe today, things would be different."
Haaland is the reigning Golden Boy winner and finished with the UEFA Champions League golden boot despite Dortmund's early exit.