The Club Financial Control Body (CFCB) of UEFA has launched an investigation on Juventus over alleged financial violations.
Earlier this week, top officials of the club including the the President, Andrea Agnelli, vice-president Pavel Nedved and managing director Maurizio Arrivabene all quit their roles from the Serie A giants.
The exodus of the top club official is reportedly coming on the heels of an investigation into alleged tax fraud, which Juventus have denied
The investigation is also imperative consequently to how the club recorded loss of €254.3million for 2021-22.
UEFA announced on Thursday that the CFCB had opened an investigation on the team.
“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,” a statement from UEFA read.
“The 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.”
The statement added that if the CFCB’s investigation finds Juve’s financial situation was “significantly different” from what was assessed at the time the settlement was agreed, then the CFCB has reserved the right to terminate the agreement and take “any legal step it may deem appropriate, and impose disciplinary.
Juventus who have had an unstable performance in the current season are occupying third position on the log of the Serie A.