As it continues to be investigated for financial improprieties, Juventus FC have made a shocking move in their leadership.
At a board meeting Monday, the entire board of Juventus — including president Andrea Agnelli and vice president Pavel Nedved — stepped down from their posts, the club confirmed.
CEO Maurizio Arrivabene will step down once a new board has been appointed in January, but will remain in his position to ease the transition in the meantime.
Given the mass of financial allegations against the storied Italian club, the board members felt it best to step aside as potential punishment comes in.
Juve are under investigation for allegedly taking illegal commissions from player transfers and loans — and for false accounting practices regarding those transactions — between 2019 and 2021.
The club’s financial woes don’t stop there: During the 2021-22 season, Juventus reported a $246.1 million loss — a Serie A record and their fifth consecutive annual deficit.
Juve finished fourth in the Italian league in each of the last two seasons. This season, they are currently third — but have already been eliminated from UEFA Champions League.