Shock investigation against Juventus, what's going on

Prosecutor in Turin has indicted the investigation into Juventus' accounts

by Lorenzo Ciotti
Shock investigation against Juventus, what's going on

Earthquake at Juventus: the board of directors resigned en masse due to allegations of tax fraud, tax balance sheets rigged due to fictitious capital gains and salaries recorded in the wrong periods. Prosecutor in Turin has indicted the investigation into Juventus' accounts.

The provision concerns Chairman Andrea Agnelli and 11 other people who in recent weeks had received the notice of closure of the investigation. These are Nedved, Paratici, Re, Bertola, Cerrato, Gabasio, Arrivabene, Roncaglio, Vellano, Boschetti and Grossi.

John Elkann, Chief Executive Officer of Exor, said: "No new capital increases are needed. We are in a situation where there is a clear direction ahead, as we announced yesterday. The new board of directors will be appointed in January and the president will be Gianluca Ferrero, who will be able to address the various issues.

The club will have a very capable General Manager in the areas where Juventus is present. We have a great experienced coach in Massimiliano Allegri. Football is a sector of great value and we think that with the ingredients that Juventus has the ability to become a company of even greater value than it has today." Juventus, in a note, explains: "In the belief that it has always operated correctly, Juventus FC intends to assert its reasons and defend its interests, corporate, economic and sporting, in all venues.

With reference to what is reported by some bodies of the press - in full compliance with the judiciary and market regulatory bodies, and while reaffirming the utmost confidence in the judicial authorities - JFC specifies the following.

Following the launch of the Consob proceeding to ascertain alleged accounting non-compliance (July 2021), concluded on 19 October 2022, with the results made public by Juventus with the two press releases dated 21 October and 20 November 2022, and following the acquisition of the criminal file documents (following the notification of the notice of conclusion of the preliminary investigations on 24 October 2022), Juventus' corporate bodies continued the process of rigorous and scrupulous assessment of all the accounting disputes raised with regard to the financial statements of Juventus (2019/2020 and 2020/2021 and, successively, 2021/2022)." The League of the main Spanish professional league has issued a very harsh statement: "LaLiga has the objective of promoting financially sustainable football in Europe, and requests that the competent authorities apply immediate sporting sanctions against Juventus.

Already in April 2022 it had been presented an official complaint to UEFA against Juventus, in which they reported violations of the rules on financial fair play which the Italian Guardia di Finanza is investigating."