UEFA open investigation into alleged financial fraud at Juve

December 2 - UEFA have opened an investigation into Juventus for alleged financial fraud which has led to the resignation of Juve's board and a series of indictments issued against them by Italian authorities.

UEFA's investigation will be led by the First Chamber of the Club Financial Control Body (CFCB) which will look for possible breaches of club licensing and financial fair play regulations .

UEFA said the investigation "will focus on alleged financial breaches which have recently been made public following the procedure carried out by the Italian Commission for Companies and Exchanges (CONSOB) and the Prosecutor of Turin ."

During the investigation, UEFA said it would "cooperate with the national authorities".

In August, the CFCB First Chamber reached a three-year settlement agreement with Juventus and a number of other clubs for breaching Financial Fair Play rules. This settlement was made on the basis of the financial information presented for the financial years ended in 2018, 2019, 2020, 2021 and 2022.

UEFA will now look to see if the information it had at the time of the conclusion of this agreement is "significantly different" and if "new and substantial facts arise or become known". If so, UEFA said it "reserves the right to terminate the settlement agreement, take any legal action it deems appropriate and impose disciplinary action in accordance with applicable procedural rules. UEFA CFCB".

The entire Juventus board, including chairman Andrea Agnelli, resigned at the end of last month, plunging one of the world's most famous clubs into crisis.

Their resignations follow a preliminary investigation by the Turin public prosecutor's office into fraudulent accounting for alleged hidden payments to players.

Prosecutors have been investigating since last year whether Juventus, which is listed on the Milan Stock Exchange, collected illegal commissions on player transfers and loans. Agnelli, Vice President Pavel Nedved and CEO Maurizio Arrivabene are among 15 people likely to face trial.

There is no love lost between the UEFA hierarchy and Juventus (and Agnelli in particular), who UEFA believe have betrayed the trust of European football in general in their promotion and the pursuit of the riches that a European Super League could bring them. Juve, Barcelona and Real Madrid have refused to give up on this ambition, although the credibility of Juventus as partners again calls into question the morality of the partners and their plan.

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