Sunday December 3, 2023

Juventus Slapped With Penalty After Doctoring Financial Reports

  • The Federal Appeal Court of the FIGC penalized Juventus with a 15-point reduction.
  • Prosecutors initially requested only a 9-point reduction.
Kirby Lee-USA TODAY Sports
Copy Link
Link Copied
Link Copied

Juventus is starting the second half of its season with a point cut in the domestic standings.

The Federal Appeal Court of the FIGC, Italy’s football federation, penalized the Serie A club with a 15-point reduction for fixing their balance sheets with false gains from player transfers between 2019 and 2021.

  • Prosecutors reportedly initially requested only a nine-point reduction.
  • Eight other clubs that were investigated were acquitted in the appeal ruling.

The point reduction moves the club — which Forbes last valued at $2.45 billion — from third place to ninth in the Serie A rankings, which means it likely won’t qualify for European tournaments. 

Juventus, which has been owned by the Agnelli family since 1923, announced that it plans to appeal the ruling to the Sport Guarantee Board, which can’t amend the penalty, but can order the case to be rerun if there were procedural issues. The penalty will be removed if the appeal is successful.

Board Bans

Eleven top managers at the club have been temporarily banned, including a two-year ban from Italian soccer for former Juventus president and chairman Andrea Agnelli and a 30-month ban for Fabio Paratici, Juventus’ ex-sporting director and Tottenham’s current managing director of football.

Agnelli and Juventus’ entire board of directors resigned last November following allegations of wrongdoing associated with the club’s financial statements.

Copy Link
Link Copied
Link Copied

What to Read

Commanders Spend Big On Current Home While Planning New Stadium

The Washington Commanders will keep upgrading FedEx Field.

New Indiana Pacers Investor Could Offer Succession Option

The Pacers are selling a 20% minority stake in the team.

Brisbane's Big Build: $1.8B Super Stadium For 2032 Olympics

Centerpiece venue for upcoming Games to be torn down, rebuilt.
podcast thumbnail mobile
Front Office Sports Today

CFP Looking to Super Bowl for Media Rights Plan


Featured Today

The College Football Playoff is considering rotating TV networks for the national championship game.

CFP Considers Super Bowl-Like Rotation For National Championship Game

Multiple networks could share rights to the championship game, sources told FOS.
Brett Favre
November 27, 2023

Favre Welfare Case Hold-Up? "AG’s Office Has Not Expressed Interest In Pursuing"

The DOJ interviewed Brett Favre in early 2020.
The future of the Pac-12 rests on a court decision.
November 24, 2023

The Pac-12 Plays Its Final Regular-Season Game. Then A Court Decides Its Fate.

The conference's future rests with a court decision.
Lane Kiffin
November 9, 2023

Ole Miss, Lane Kiffin Lawyers Argue for Dismissal of Player Lawsuit

FOS obtained audio of Lane Kiffin's interaction with the player behind lawsuit.


Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Multiple - USA Careers
Live Nation
Multiple - USA Careers
Saco Bay PT
Multiple - USA Careers

LAFC’s Historic Run: From MLS Cup Final Return to Billion-Dollar Valuation

MLS club looks to become league's first repeat champion since 2012.
Dallas Mavericks owner Mark Cuban celebrates court side behind Luka Doncic
November 29, 2023

Blockbuster Mavs-Cuban Deal Puts Dallas Casino Complex In Spotlight

Deal valuing NBA team at about $3.5 billion premised on arena-casino development.
Inter Miami CF forward Lionel Messi looks on before taking a free-kick against New York City during the second half at DRV PNK Stadium.
November 30, 2023

Inter Miami Already Sold Out 2024 Season Tickets

Miami saw a 1,215% surge in demand even after prices almost doubled.

NHL’s Chris Foster on Amplifying Content Distribution With Automation

Learn how the NHL is using WSC Sports to increase fan engagement.
David Tepper
November 29, 2023

David Tepper and the Problem of the Investor-Owner

The Panthers are 30-63 since Tepper bought the team.
November 28, 2023

Could Panthers' Ongoing Setbacks Lead To A Surprise Move?

The Panthers are searching for yet another head coach.
November 28, 2023

Oakland Baseball Goes From A's To B's

Baseball's independent Pioneer League placing team in Bay Area city.
A general view of Citi Field, home of the New York Mets.
November 27, 2023

Mets Owner's Major Hire Underscores Emphasis on Media Revenue

Cohen turns to Bloomberg Media executive to lead team's business operations.