Those who studied the motivation released by the Collegio di Garanzia believe Juventus are likely to be docked nine points rather than 15, which could knock them out of the Champions League places.
The Bianconeri were originally given a 15-point Serie A penalty in February for artificially inflating transfer fees to boost capital gains and therefore balance the books.
Their appeal was partially accepted in April, revoking the penalty pending a new trial, which should be completed within 30 days.
That will allow the new penalty to be imposed in the 2022-23 season.
The most important thing about the motivation released today is that the Article 4 charge remains, which covers fair play and sporting probity in the sporting justice system.
That means Juventus are confirmed to have violated those rules and will receive a points penalty.
The most likely course of action now is for the court to go back to the original request from the FIGC prosecutor Giuseppe Chiné, which was for nine points and not 15.
If confirmed, it would see Juventus plummet from second place on 66 points to sixth on 57.
Milan would be bumped up to fourth on 61, followed by Atalanta and Roma on 58.
The reduction is also because the appeal of some figures in the board of directors was accepted, therefore limiting the wrongdoing to the figures whose bans were confirmed.
Pavel Nedved, Paolo Garimberti, Assia Grazioli-Venier, Caitlin Mary Hughes, Daniela Marilungo and Francesco Roncaglio were all cleared of wrongdoing.
This left Andrea Agnelli, Fabio Paratici, Federico Cherubini and Maurizio Arrivabene as being held responsible for the capital gains scandal.
I’m almost 99.99% sure that they will escape punishment. Even 15 points is a travesty, but I doubt there will be any deduction whatsoever.