Regulator Opens Investigation Into Juventus Football Club
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(Bloomberg) -- European football’s top regulatory body, UEFA, said it has opened a formal investigation into Juventus FC for potential breaches of its club licensing and financial fair play rules.
In a statement Thursday, it said its investigation will focus on the alleged violations made public recently as a result of proceedings led by Italian regulators and the public prosecutor in Turin. Earlier this week, Juventus Football Club Spa Chairman Andrea Agnelli and the team’s entire board of directors resigned amid a probe into alleged wrongdoing related to the company’s financial filings.
UEFA said in its statement that it concluded a settlement agreement with the Italian club in August. But if it now finds that the club’s financial situation was significantly different from that presented at the time, it “reserves the right to terminate the settlement agreement, take any legal step it may deem appropriate, and impose disciplinary measures in accordance with the applicable UEFA CFCB Procedural Rules.”
A spokesperson for Juventus declined to comment.
Juventus is one of the leaders of a European superleague, which is a direct threat to UEFA. Its first incarnation, which was toppled within 48 hours after criticism from fans and politicians, envisaged a rival competition to UEFA’s Champions League.
–With assistance from Daniele Lepido.
In a statement Thursday, it said its investigation will focus on the alleged violations made public recently as a result of proceedings led by Italian regulators and the public prosecutor in Turin. Earlier this week, Juventus Football Club Spa Chairman Andrea Agnelli and the team’s entire board of directors resigned amid a probe into alleged wrongdoing related to the company’s financial filings.
UEFA said in its statement that it concluded a settlement agreement with the Italian club in August. But if it now finds that the club’s financial situation was significantly different from that presented at the time, it “reserves the right to terminate the settlement agreement, take any legal step it may deem appropriate, and impose disciplinary measures in accordance with the applicable UEFA CFCB Procedural Rules.”
A spokesperson for Juventus declined to comment.
Juventus is one of the leaders of a European superleague, which is a direct threat to UEFA. Its first incarnation, which was toppled within 48 hours after criticism from fans and politicians, envisaged a rival competition to UEFA’s Champions League.
–With assistance from Daniele Lepido.