UEFA announce investigation into Juventus for potential FFP violations

While some competition called the World Cup goes on in the Middle East, Juventus have bigger issues closer to home with news of impending investigations, mass resignations and other boardroom chaos descending on the club this week.

What we know so far is that the entire board has left the club, starting with club president Andrea Agnelli, though reports yesterday indicated that coach Massimiliano Allegri and Director of Football Federico Cherubini have been asked to stay on. Stay abreast of all the latest details in our story stream right here.

So far it has been domestic authorities that have been focusing on Juve, but now it appears UEFA will also be jumping into the fray. Don’t forget, there was a very public falling out between the head of the European footballing body Aleksander Ceferin and Agnelli, who had often worked together until Juve became one of the founding members of the European Super League last year.

In a statement released earlier today, UEFA said -

“The CFCB First Chamber has today opened a formal investigation into Juventus FC for potential breaches of the Club Licensing and Financial Fair Play regulations.

“The CFCB First Chamber 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.

“On 23 August 2022, the CFCB First Chamber concluded a settlement agreement with Juventus FC. This settlement agreement was concluded on the basis of the financial information previously submitted by the club pertaining to the financial years closing in 2018, 2019, 2020, 2021 and 2022.

“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 in accordance with the applicable UEFA CFCB Procedural Rules.

“The CFCB First Chamber will cooperate with national authorities and will make no further comment on the matter while the investigation is ongoing.”

While the statement is mostly procedural corporate lingo, it does look like should the Italian governing body levy some punishments on the Bianconeri, then UEFA might also follow suit with additional disciplinary actions as well. More to come on this, it looks like.