Categories: Sports

UEFA Bans Juventus Over Financial Rules

 

Juventus were kicked out of next season’s Europa Conference League on Friday for breaching financial fair play rules, UEFA announced.

The Italian giants were also fined 20 million euros ($22 million) with half that amount suspended.

“Juventus violated UEFA’s regulatory framework…and it was decided to exclude Juventus from the 2023/24 UEFA men’s club competition,” said a UEFA statement.

European football’s governing body said the 10-million-euro additional fine will only be applied if the 2023, 2024 and 2025 financial years do not meet their accounting requirements.

Juventus said in a statement that they accepted the decision and would not appeal the sanction.

“Juventus, while continuing to consider the alleged violations insubstantial and its actions correct, has declared to accept the decision,” the club said.

However, they insisted that this did not “constitute admission of any liability against itself”.

“We regret the decisions of the UEFA Club Financial Control Body,” said Juventus president Gianluco Ferrero who added the club preferred “to put an end to a period of uncertainty”.

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Ferrero highlighted the “uncertainty about a possible participation in the 2024/2025 season of the Champions League” that could weigh on an appeal procedure.

Fiorentina, who finished in eighth place in Serie A last season, are likely to replace Juventus in the Conference League.

In May, Juventus agreed to pay a fine of more than 700,000 euros ($751,000) for lying about players foregoing wages during the Covid-19 pandemic after a plea bargain approved by the Italian Football Federation tribunal.

The plea deal brought to an end a series of cases in Italy’s sporting courts involving the Turin club.

They were also handed a 10-point deduction in Serie A after a revision of their initial 15-point penalty inflicted on the club over illicit transfer activity.

The disciplinary tribunal of the Italian federation (FIGC) said it had fined the club 718,240 euros, while seven of its management figures were ordered to pay fines ranging from 47,000 euros to 10,000 euros.

On Friday, UEFA also reached a settlement with Chelsea which will result in the English Premier League side paying 10 million euros for “submitting incomplete financial information” during the Roman Abramovich era.

A UEFA statement said the club’s new owners “identified, and proactively reported to UEFA, instances of potentially incomplete financial reporting under the club’s previous ownership” between 2012 and 2019.

“Following its assessment, including the applicable statute of limitations, the CFCB entered into a settlement agreement with the club which has agreed to pay a financial contribution of 10 million euros to fully resolve the reported matters.”

AFP

Emmanuel Egobiambu

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