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Top executives at Italy’s most valuable soccer team could face a criminal trial, depending on what investigators found in the club’s financial records.
Prosecutors concluded their investigation into Juventus regarding financial dealings and accounts between 2018-2020. The team is now waiting to hear if there will be criminal charges.
- The team is under investigation for taking illegal commissions from player transfers and loans and for false accounting practices regarding those transactions.
- There are reportedly 15 suspects in addition to the club itself, including club president Andrea Agnelli, vice president Pavel Nedved, and CEO Maurizio Arrivabene.
- A judge rejected a request that Agnelli be placed under house arrest.
Juventus released a statement on Tuesday saying it “remains convinced” that it “operated according to the laws and rules that govern financial relations” and “international customs of the football industry.”
Loss Leader
Juventus, which is publicly traded, has lost money each of the last five years, including a $253.3 million loss in the 2021-22 fiscal year and a $209 million loss the previous year.
Its stock fell 17.6% on Tuesday to a market cap of $725 million.
The team was valued at $2.45 billion in May by Forbes, ninth among all soccer teams and first among Italian clubs.
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