Juventus kicked out of Europe over financial rules breach

Juventus, celebrating a pre-season friendly win over AC Milan in California on Thursday, have been kicked out of the Europa Conference League by UEFA (Frederic J. BROWN)

Juventus were kicked out of next season’s Europa Conference League on Friday for breaching financial fair play rules, UEFA announced.

The Italian giants were also fined 20 million euros ($22 million) with half that amount suspended.

“Juventus violated UEFA’s regulatory framework…and it was decided to exclude Juventus from the 2023/24 UEFA men’s club competition,” said a UEFA statement.

European football’s governing body said the 10-million-euro additional fine will only be applied if the 2023, 2024 and 2025 financial years do not meet their accounting requirements.

Juventus said in a statement that they accepted the decision and would not appeal the sanction.

“Juventus, while continuing to consider the alleged violations insubstantial and its actions correct, has declared to accept the decision,” the club said.

However, they insisted that this did not “constitute admission of any liability against itself”.

“We regret the decisions of the UEFA Club Financial Control Body,” said Juventus president Gianluco Ferrero who added the club preferred “to put an end to a period of uncertainty”.

Ferrero highlighted the “uncertainty about a possible participation in the 2024/2025 season of the Champions League” that could weigh on an appeal procedure.

Fiorentina, who finished in eighth place in Serie A last season, are likely to replace Juventus in the Conference League.

In May, Juventus agreed to pay a fine of more than 700,000 euros ($751,000) for lying about players foregoing wages during the Covid-19 pandemic after a plea bargain approved by the Italian Football Federation tribunal.

The plea deal brought to an end a series of cases in Italy‘s sporting courts involving the Turin club.

They were also handed a 10-point deduction in Serie A after a revision of their initial 15-point penalty inflicted on the club over illicit transfer activity.

The disciplinary tribunal of the Italian federation (FIGC) said it had fined the club 718,240 euros, while seven of its management figures were ordered to pay fines ranging from 47,000 euros to 10,000 euros.

On Friday, UEFA also reached a settlement with Chelsea which will result in the English Premier League side paying 10 million euros for “submitting incomplete financial information” during the Roman Abramovich era.

A UEFA statement said the club’s new owners “identified, and proactively reported to UEFA, instances of potentially incomplete financial reporting under the club’s previous ownership” between 2012 and 2019.

“Following its assessment, including the applicable statute of limitations, the CFCB entered into a settlement agreement with the club which has agreed to pay a financial contribution of 10 million euros to fully resolve the reported matters.”


Source link: https://sports.yahoo.com/juventus-kicked-europe-over-financial-190310861.html?src=rss




Counter-Strike: Global Offensive is reportedly getting a major update soon

Valve’s on the precipice of launching a major update to Counter-Strike: Global Offensive, according to a report from esports journalist Richard Lewis (via...

Martin Odegaard seen signing Arsenal shirt for Declan Rice in tunnel cam footage amid transfer rumours

Martin Odegaard was seen signing an Arsenal shirt for rumoured transfer target Declan Rice after the Gunners’ draw at West Ham. Arsenal suffered...

Trump’s Second NFT Card Series Launch Sees First Collection Plummet in Nice Guy Credit Bid

Former US President Donald Trump released a second NFT collection.  Trump’s new collection met with profound...

USMNT vs Panama live! How to watch, stream, start time, preview

The United States men's national team has showcased its depth at the 2023 Gold Cup, and interim coach BJ Callaghan is two matches...

KSI stuns fans with crazy neck workout ahead of Joe Fournier fight

KSI showed off some interesting training routines during his media workout ahead of his clash with Joe Fournier. The social media star turned boxer...