Juventus is being investigated for capital gains of 282 million euros from player transfers.
Italian The entire board of football club Juventus is leaving their positions, the club says in the bulletin. The chairman of the board is also leaving his position Andrea Agnelli and Vice President Pavel Nedved.
In the release, the resignation of the board is connected to open legal and accounting problems. These refer to an ongoing criminal investigation. Prosecutors in Turin, Italy, have been investigating allegations of accounting crimes and irregularities related to player transfers and loans since last year.
The outgoing board decided to resign due to “new legal and accounting insights” received from experts. In the opinion of the board, it would be best for the Torino club to have a new board to deal with its problems.
Juventus according to the CEO Maurizio Arrivabene was asked to extend the transition period in the club until a new board is put together.
According to the press release, the next shareholders’ meeting is scheduled for December 27. After this, the shareholders are supposed to meet again on January 18 and appoint a new board for the company.
The resignation of the board is the end of an era for chairman Agnelli, under whose watchful eye Juventus won nine Italian Serie A championships and reached the Champions League final twice.
Agnelli has also been a strong advocate of the football Superliga.
Juventus is being investigated due to capital gains of a total of EUR 282 million from player transfers appearing in the results of 2019, 2020 and 2021.
Prosecutors are investigating whether Juventus, which is listed on the Italian stock exchange, has presented false accounting information to investors during the above-mentioned period, as well as presented receipts for non-existent business transactions.
At the same time, Juventus, along with other clubs, is being investigated by the Italian Football Federation (FIGC) for player transfers. The FIGC began its investigation in October.
The results of the prosecutors’ investigation will also be forwarded to the FIGC, which has the power to punish football clubs. Teams can be fined or even kicked out of the league.
According to Juventus’ press release, the club will continue to cooperate with the authorities.
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