A formal UEFA investigation into Juventus has officially been opened over potential financial fair play and club licensing breaches.
Prosecutors have been investigating accounting and statements the group has made to financial markets over the past three years, between 2018 and 2022.
Player transfers have been a focus with the values ascribed between clubs, and investigations have taken place into whether salaries were sacrificed during the COVID-19 pandemic or simply deferred.
The Ronaldo saga takes a strange twist – The Warm-Up
25/03/2021 AT 08:39
A UEFA statement read: “The CFCB (club financial control body) First Chamber has today opened a formal investigation into Juventus FC for potential breaches of the club licensing and financial fair play regulations.
In a statement on Wednesday, Juventus said they “remain convinced that the club has always acted correctly” and allegations of the public prosecutor’s office “do not appear substantiated nor aligned.”
The investigations into Juventus come just two days after the entire board of directors resigned, including president Andrea Agnelli and vice-president Pavel Nedved, a year after the club confirmed they were cooperating with police after an investigation was launched into transfers at the club.
The CFCB first chamber reached a settlement based on information submitted by the club in relation to the financial years ending in 2018, 2019, 2020, 2021 and 2022.
UEFA’s new investigation will focus on the “alleged financial violations recently made public”.
It added that if “the club’s financial situation was significantly different from that assessed by the CFCB first chamber at the time the settlement agreement was concluded, or if new and substantial facts arise or become known” it reserves the right to terminate the agreement.
UEFA can also take legal action and impose disciplinary measures “in accordance with the applicable UEFA CFCB procedural rules”.
The CFCB first chamber will “co-operate with national authorities”.
Juventus published an annual loss of £220m for last season – which was a record in Italy.
The Turin-based club were one of eight clubs that settled with UEFA after failing to comply with break-even requirements last campaign.
‘He will stay’ – Nedved backs Ronaldo to remain at Juve
24/03/2021 AT 16:41
Nedved explains why Zlatan was his best team-mate, despite one big problem
11/10/2016 AT 13:33