UEFA has announced the Club Financial Control Body (CFCB) First Chamber will investigate Juventus for potential breaches in two major areas.
According to Goal.com, Juve’s board of directors stepped down as a result of investigations being opened by Italian authorities into the Old Lady’s accounts, specifically payments and wages that were supposedly deferred throughout the COVID-19 pandemic in 2020.
Being investigated by a UEFA body now adds to the club’s concerns.
Prosecutors have been investigating accounting and statements the group has made to financial markets over the past three years, between 2018 and 2022.
Player transfers have been a focus with the values ascribed between clubs, and investigations have taken place into whether salaries were sacrificed during the COVID-19 pandemic or simply deferred.
A statement published to UEFA’s website on 1 December, reads: “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.”
The statement says a prior settlement with Juventus could be nullified : because that 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.”