UEFA announce investigation into potential Juventus FFP breach

Things are getting worse for Juventus, as UEFA have announced a formal investigation into the club for potential breaches of the Club Licensing and Financial Fair Play regulations.

The Serie A side is already under investigation in Italy, both in a legal and sporting dimension, for possible financial irregularities.

Now UEFA have formally opened an investigation too, noting both potential breaches of Financial Fair Play rules and the regulations around Club Licensing.

The investigations are based around two concerns, the first is possibly inflated capital gains based on transfer fees by artificially increasing the value of players in exchange deals.

The second is reports the players who agreed to forego wages during the COVID-19 crisis were still paid their salary off the books.

“The CFCB First Chamber has today opened a formal investigation into Juventus FC for potential breaches of the Club Licensing and Financial Fair Play regulations,” read a statement.

“The CFCB First Chamber investigation will focus on the alleged financial violations that were recently made public as a result of the proceedings led by the Italian Companies and Exchange Commission (CONSOB) and the public prosecutor in Turin.

“On 23 August 2022, the CFCB First Chamber concluded a settlement agreement with Juventus FC. This settlement agreement was concluded on the basis of the financial information previously submitted by the club pertaining to the financial years closing in 2018, 2019, 2020, 2021 and 2022.

“In the event that, after conclusion of this investigation, 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, the CFCB First Chamber reserves the right to terminate the settlement agreement, take any legal step it may deem appropriate and impose disciplinary measures in accordance with the applicable UEFA CFCB Procedural Rules.

“The CFCB First Chamber will cooperate with national authorities and will make no further comment on the matter while the investigation is ongoing.”

The entire Board of Directors, including Juventus President Andrea Agnelli, tended their resignation on Monday evening and a new board will be appointed in January.

Meanwhile, Minister for Sport Andrea Abodi has warned that Juventus probably represent “the tip of the iceberg” for this sort of creative accounting in the world of football.