Juventus revise financial statement, insist ‘standards followed’

Juventus have released a revised consolidated financial statement, pledging to collaborate with all the investigations and again insisting they followed ‘applicable accounting standards.’

The latest statement is the final gesture from the Board of Directors, who resigned en masse on Monday evening when the extent of the investigation into their financial dealings became apparent.

They reunited for one last time under President Andrea Agnelli this evening to approve the revised draft of the financial statements for the year ending June 30 2022.

“The re-approval of the draft financial statements and consolidated financial statements at 30 June 2022 follows the analyses and assessments carried out by the Board of Directors on November 28, after having received new updated opinions given after the review of the relevant documentation relating to the investigation by the Public Prosecutor, with reference to the so-called ‘salary manoeuvres’ carried out in the 2019/20 and 2020/21 financial years.”

The losses for June 2022 in effect have dropped from €254m to €239m, but the losses for the year ending June 2021 have climbed from €209.9m to €226.8m.

The statement is careful to repeatedly state that this is done out of an abundance of caution and they continue to maintain the “the accounting treatment adopted by the Company falls within those permitted by the applicable accounting standards” and that these are “susceptible to different interpretations regarding the applicable accounting method.”

It goes on to confirm that Juventus are under investigation and the prosecutor in Turin has recommended a trial.

“Juventus continues to be convinced, also taking into account the legal and accounting analyses performed by the Company on the basis of the opinions it has received from independent experts, that it has acted in compliance with the laws and regulations governing the preparation of financial reports, with the applicable accounting standards and the relative application criteria and in line with international practice in the football industry.”

UEFA opened an investigation into alleged Financial Fair Play and Club Licensing violations, with Juventus assuring they will “lend the utmost cooperation and will provide all information and useful data aimed at demonstrating that the economic, equity and financial situation of the Company is not significantly modified with respect to what was reported to the CFCB in the context of signing the Settlement Agreement” in March 2022.

7 Comments on “Juventus revise financial statement, insist ‘standards followed’”

  1. So… “Standards were followed” but still every board member had to resign? Yeah, sounds convincing… 😀

  2. LOL some fish and boy from ye olde Blighty is still reeling from her supply chain issues. No malt vinegar and still living in cuckoo land thinking the Wendy’s of Europe were actual big timers. Have to fake it to make it. If you cannot afford a beamer, ride a bicycle.

  3. Profile pic = blue check mark equivalent. Now go batter your haddock, fish and chip time for you soon.

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