UEFA opens an investigation against Juventus for financial and licensing breach. Juventus has been the subject of a formal UEFA investigation regarding possible violations of financial fair play and club licensing. Investigators are looking at the group’s accounts and the claims it made to the financial markets between 2018 and 2022. The valuations assigned between clubs have focused on player movements, and it has been investigated to see if salaries were sacrificed during the COVID-19 pandemic or merely postponed.
The CFCB (club financial control body) First Chamber has begun a formal inquiry into Juventus FC for possible violations of the club license and financial fair play standards, according to a statement from UEFA. Juventus said in a statement on Wednesday that they “remain sure the club has always acted correctly” and that the accusations made by the public prosecutor’s office do not seem supported or consistent.
The Juventus investigations come just two days after the resignation of the whole board of directors, including president Andrea Agnelli and vice-president Pavel Nedved, and a year after the club made it clear that they were working with law enforcement after an inquiry into transfers at the club. Based on data provided by the club on the fiscal years ending in 2018, 2019, 2020, 2021, and 2022, the CFCB’s first chamber reached a settlement. The current inquiry by UEFA will concentrate on the alleged financial transgressions that were just made public.
It also stated that it reserved the right to cancel the agreement if the club’s financial status materially changed from that estimated by the CFCB first chamber at the time the settlement agreement was reached or if new and important facts emerged or came to light. In accordance with the relevant UEFA CFCB procedural rules, UEFA may also file a lawsuit and impose sanctions. The first chamber of the CFCB will work with national authorities. Juventus reported a record-breaking annual deficit of £220 million for the 2017–18 campaign.
For more football club news and updates, keep your eye on this space.
