“UEFA’s Financial Conduct Authority (CFCB) has opened a formal investigation into Juventus for possible violations of Club Licensing and Financial Fair Play regulations,” UEFA said in a brief evening statement. 1/12 (Hanoi time). According to Goal, the “Old Lady” can be punished once UEFA concludes they have violated.
This move comes when important figures in the Juventus leadership including President Andrea Agnelli and Vice President Pavel Nedved all resign. Chief Executive Officer Maurizio Arrivabene will continue to take charge of the current job until the team appoints a new board of directors.
Attention is focused on Juve’s financial statements for the years 2019, 2020 and 2021. After reviewing the books, prosecutors and market regulators in Italy found irregularities and allege that there is a significant disparity.
The 36-time Italian champions deny the allegations and insist they operate in compliance with laws and accounting principles as well as in accordance with international football practices and market conditions.
In September, Juventus announced a loss of 254.3 million euros in the fiscal year 2021/22. Besides, revenue also decreased but operating costs increased significantly (up 7.6% over the same period). In fiscal year 2020/21, Juventus’ loss was recorded at about 209.9 million euros. Over the past 3 years, Juventus has lost 534 million euros.
The “old lady” explains the loss of business due to the fact that the distribution of television rights in Serie A has decreased significantly, and they are eliminated early in the Champions League 2021/22. The aftermath of the Covid-19 epidemic also caused Juventus to struggle. Juventus is concerned that the club’s financial situation is unlikely to improve in the fiscal year 2022/23.
Not only financial instability, Juventus also expressed disappointment on the pitch. The Italian representative was soon eliminated in the group stage of the Champions League 2022/23. In Serie A, they are third but 10 points behind leaders Napoli. Last season, Juventus only finished 4th.
Xiaofeng | 16:25 December 2, 2022