After the mass resignations from the boardroom that occurred a month ago. Juventus’ problems will continue on Tuesday when the shareholders of Italy’s largest football club meet to approve the most recent disastrous set of accounts. The problems will continue on Tuesday when the shareholders of Juventus meet to approve the most recent disastrous set of accounts.
Juve’s whole board quit as an examination by examiners in Turin into claims of bogus bookkeeping and anomalies in the exchange and credits of players prompted 15 individuals and the club to be accused of various offenses. The fifth consecutive set of annual accounts with revised losses of 239.3 million euros (255 million dollars) will be approved on Tuesday.
In September, Juve, which is traded on the Italian stock market, announced record losses of 254 million euros. This number was revised down after losses for 2020/21 were raised from 209 million euros to 226 million euros. Those records were changed following discoveries of stock trade controller CONSOB as well as examiners and investigators. The meeting on Tuesday was originally scheduled for November 23. Was postponed just over a week before the board announced its resignation.
One of those who resigned was chairman Andrea Agnelli. Ending a 12-year reign that brought a slew of awards and briefly reestablished Juventus as one of Europe’s best teams. However, after spending more than 100 million euros to sign Cristiano Ronaldo from Real Madrid three years earlier. Juve’s run of nine consecutive league titles ended in 2021, and their performances on the continent plummeted.
The COVID-19 pandemic and Ronaldo’s arrival coincided with an increase in salary costs, which led to two capital increases from parent company Exor, which is controlled by the powerful Agnelli family, totaling 700 million euros. Juve is accused, according to documents seen by AFP, of artificially inflating transfer values and lying to the stock market. When they announced that players would help the club save 90 million euros by giving up their salaries for the months of March, April, May, and June of 2020.
Investigators say the club secretly guaranteed players they would just need to allow up one month’s compensation, saving only 22 million euros. A trial date is approaching Shareholders are scheduled to meet once more on January 18 to appoint the new board. Gianluca Ferrero, a Turin-born former head of the coffee brand Lavazza who is regarded with confidence by Exor chairman John Elkann, Andrea Agnelli’s cousin, will be in charge of the board.
It will be determined at a preliminary court hearing next month. Whether those charged by prosecutors will be defendants in a trial. This would be a difficult backdrop for the second half of a season for Juventus that has already been difficult. After finishing the group stage with just three points and trailing Serie A leaders Napoli by 10 points. The Turin giants were eliminated from the Champions League.
After a disastrous start to the season, Juve coach Massimiliano Allegri was criticized. But a string of six league wins in the month leading up to the World Cup moved the team up to third place in Serie A. Allegri, who is still in charge with sporting director Federico Cherubini, hasn’t been directly affected by the chaos elsewhere. However, the season is turning into a nightmare for Agnelli, and UEFA is also looking into Juve’s finances.
The remaining supporters of the failed Super League. Which included Agnelli, who appears to be losing the battle as well, according to the governing body of European football. The European Official courtroom’s top legitimate consultant said recently that UEFA and the worldwide body FIFA had acted. Inside the law when they took steps to oust clubs or players who joined the contained breakaway association.
Despite the Super League’s demise just 48 hours after its announcement in 2021 due to fan outrage. Juventus chairman Agnelli, his counterparts at Barcelona, and European champion Real Madrid were holding on to the idea. Advocate General Athanasios Rantos disagreed with the Super League holding companies. Claim that UEFA abused its market position to prevent fair competition.