Calendar An icon of a desk calendar. Cancel An icon of a circle with a diagonal line across. Caret An icon of a block arrow pointing to the right. Email An icon of a paper envelope. Facebook An icon of the Facebook "f" mark. Google An icon of the Google "G" mark. Linked In An icon of the Linked In "in" mark. Logout An icon representing logout. Profile An icon that resembles human head and shoulders. Telephone An icon of a traditional telephone receiver. Tick An icon of a tick mark. Is Public An icon of a human eye and eyelashes. Is Not Public An icon of a human eye and eyelashes with a diagonal line through it. Pause Icon A two-lined pause icon for stopping interactions. Quote Mark A opening quote mark. Quote Mark A closing quote mark. Arrow An icon of an arrow. Folder An icon of a paper folder. Breaking An icon of an exclamation mark on a circular background. Camera An icon of a digital camera. Caret An icon of a caret arrow. Clock An icon of a clock face. Close An icon of the an X shape. Close Icon An icon used to represent where to interact to collapse or dismiss a component Comment An icon of a speech bubble. Comments An icon of a speech bubble, denoting user comments. Ellipsis An icon of 3 horizontal dots. Envelope An icon of a paper envelope. Facebook An icon of a facebook f logo. Camera An icon of a digital camera. Home An icon of a house. Instagram An icon of the Instagram logo. LinkedIn An icon of the LinkedIn logo. Magnifying Glass An icon of a magnifying glass. Search Icon A magnifying glass icon that is used to represent the function of searching. Menu An icon of 3 horizontal lines. Hamburger Menu Icon An icon used to represent a collapsed menu. Next An icon of an arrow pointing to the right. Notice An explanation mark centred inside a circle. Previous An icon of an arrow pointing to the left. Rating An icon of a star. Tag An icon of a tag. Twitter An icon of the Twitter logo. Video Camera An icon of a video camera shape. Speech Bubble Icon A icon displaying a speech bubble WhatsApp An icon of the WhatsApp logo. Information An icon of an information logo. Plus A mathematical 'plus' symbol. Duration An icon indicating Time. Success Tick An icon of a green tick. Success Tick Timeout An icon of a greyed out success tick. Loading Spinner An icon of a loading spinner.

Uefa probing Juventus as prosecutors request indictments for ex-club president

(Alamy/PA)
(Alamy/PA)

European football chiefs have opened an investigation into Juventus, hours after it was revealed that the Turin prosecutor’s office had requested indictments for former president Andrea Agnelli and 10 other former board members as well as the club itself amid allegations of false accounting.

Former vice-president Pavel Nedved and chief executive Maurizio Arrivabene — who both left the club on Monday when Agnelli and the entire board of directors resigned — are among those for whom indictments have been requested, along with former director of sport Fabio Paratici, who has moved to Tottenham.

“The CFCB (Club Financial Control Body) First Chamber has today opened a formal investigation into Juventus for potential breaches of the club licensing and financial fair play regulations,” Uefa said in a statement.

The 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.”

Italy Soccer Juventus Board Resigns
Andrea Agnelli (Salvatore Laporta/AP)

The Uefa-appointed investigation unit is chaired by Sunil Gulati, the former US football federation president who is an economics lecturer at Columbia University.

The unit concluded a settlement agreement with Juventus in August — to avoid more serious sanctions for breaches of financial monitoring rules that apply to all clubs who qualify for Uefa competitions — but the body said on Thursday that that could be revoked.

“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,” Uefa said.

It added that it will co-operate with Italian authorities, who are expected to announce within the next week a date for a preliminary hearing, when it will be decided whether to indict and proceed to trial.

Juventus maintain that “the accounting treatment adopted in the contested financial statements falls within those allowed by applicable accounting principles” and that it has drawn that conclusion “on the basis of a solid set of opinions by leading legal and accounting professionals”.

Pavel Nedved
Pavel Nedved (Nick Potts/PA)

In a lengthy statement, the club added: “Juventus remains convinced that it has always acted correctly and intends to assert its reasons and defend its corporate, economic and sporting interests in all forums.”

Prosecutors have been investigating since last year whether Juventus cashed in on illegal commissions from transfer and loans of players. The case is also exploring if investors were misled with invoices being issued for non-existent transactions to demonstrate income that in turn could be deemed false accounting.

The case involves player contracts, transfers and agent dealings between 2018 and 2020.

At the start of the pandemic, Juventus said 23 players had agreed to reduce their salary for four months to help the club through the crisis, but prosecutors claim the players gave up only one month’s salary.

Turin prosecutors have also apparently discovered more secret payments to former player Cristiano Ronaldo that were not reported by Juventus.

The club is listed on the Milan stock exchange, which also opens it to regulatory scrutiny by the CONSOB watchdog.

The club’s chief financial officer, Stefano Cerrato, was caught on phone taps allegedly saying that if CONSOB questioned their moves, they would “razzle-dazzle” the regulators with fancy words, according to leaks to Italian media.