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Juventus Slapped With Penalty After Doctoring Financial Reports

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Author: Abigail Gentrup

Juventus is starting the second half of its season with a point cut in the domestic standings.

The Federal Appeal Court of the FIGC, Italy’s football federation, penalized the Serie A club with a 15-point reduction for fixing their balance sheets with false gains from player transfers between 2019 and 2021.

  • Prosecutors reportedly initially requested only a nine-point reduction.
  • Eight other clubs that were investigated were acquitted in the appeal ruling.

The point reduction moves the club — which Forbes last valued at $2.45 billion — from third place to ninth in the Serie A rankings, which means it likely won’t qualify for European tournaments. 

Juventus, which has been owned by the Agnelli family since 1923, announced that it plans to appeal the ruling to the Sport Guarantee Board, which can’t amend the penalty, but can order the case to be rerun if there were procedural issues. The penalty will be removed if the appeal is successful.

Board Bans

Eleven top managers at the club have been temporarily banned, including a two-year ban from Italian soccer for former Juventus president and chairman Andrea Agnelli and a 30-month ban for Fabio Paratici, Juventus’ ex-sporting director and Tottenham’s current managing director of football.

Agnelli and Juventus’ entire board of directors resigned last November following allegations of wrongdoing associated with the club’s financial statements.

The post Juventus Slapped With Penalty After Doctoring Financial Reports appeared first on Front Office Sports.

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Author: Abigail Gentrup