Juventus are under investigation by UEFA for alleged breaches of club licensing and financial fair play regulations. The situation at the club has led to the resignation of the board led by Andrea Agnelli.
There are problems at Juventus, and it may consume many people. The Italian giants have not been at their peak for a few years. The results on the pitch have not been at par with the investment in the team. There is a need for retrospection at the club and answers found before the club drowns.
The financial situation at the club is dire and probably explains why Andreas Agnelli was bent on dragging the Old Lady into the Super League. Like Barcelona, the Bianconeri is in a financial crisis, with a high possibility of crashing to the lower league. One thing is sure, if Juventus is guilty of any financial crime, there will be penalties.
UEFA are worried about the Old lady, and amid insinuations that things are not right with the Italian giants, the European soccer governing body have stepped into the matter. According to recent reports, UEFA have confirmed opening investigations of potential breaches of club licensing and financial fair play regulations by Juventus.
UEFA want to ascertain that Juventus have not breached any licensing regulations. It could get messy as the signs show massive problems at the club.
The agreement between UEFA and the Italian club in August was due to financial information provided between 2018 and 2022. A twist to the tale came on Monday when the board, led by president Andrea Agnelli, resigned. Their resignation came after an emergency meeting at the club.
There is a crisis at the club, but no one understands to what extent and how deep the rot is. The resignation of the board came after Club Financial Control Body (CONSOB), the body in charge of supervising activities in the stock exchange market, requested the balance sheet from June 2021.
Following the recent revelations, UEFA have confirmed investigations on the Serie A club are well underway
UEFA released a statement on the matter on the ground. The football body said the CFCB First Chamber started investigations of potential breaches of the Club Licensing and Financial Fair Play regulations at Juventus.
The investigation will beam its searchlights on alleged financial violations recently made public due to the proceedings led by the Italian Companies and Exchange Commission (CONSOB) and the public prosecutor in Turin.
There is a feeling that Juventus may have been cooking their books, and UEFA want to be sure before taking any decisions.
The CFCB reserves the right to terminate the agreement over any discrepancy when it was agreed. It can also take any legal step it may deem appropriate.