Turin [Italy], July 29 : Juventus Football Club S.p.A. have been banned for UEFA Conference League 2023–2024 season and fined with 10 million euros for violating Financial Fair Play rules.
The First Chamber of the UEFA Club Financial Control Body found Juventus guilty of violating the UEFA’s regulatory framework and breaching the settlement agreement signed on August 31, 2022.
The club would further have to pay an additional 10 million euros if it fails to comply with UEFA financial monitoring rules in future seasons.
However, Juventus stated in the press release that they consider the alleged violations insubstantial and its actions correct, has declared to accept the decision by waiving to appeal, expressly excluding, with the UEFA CFCB acknowledgement, that this may constitute an admission of any liability against itself.
Juventus president Gianluca Ferrero stated in the press release, “We regret the decision of the UEFA Club Financial Control Body. We do not share the interpretation that has been given of our defence, and we remain firmly convinced of the legitimacy of our actions and the validity of our arguments.”
“However, we have decided not to appeal this judgment. This decision is in line with the one taken last May in the context of the disputes with the FIGC. As in that case, we prefer to put an end to the period of uncertainty and ensure full visibility and certainty to our internal and external stakeholders about the club's participation in future international competitions.
"Lodging an appeal, possibly to other levels of judgement, with uncertain outcomes and timing, would increase the uncertainty with respect to our eventual participation in the 2024/25 UEFA Champions League. Instead, we want the first team, our fans, our sponsors, suppliers and financial partners to be able to experience the 2023/24 season with the utmost serenity and certainty with respect to the results achievable on the pitch, especially after the turbulent past season, ” Gianluca said.
“Despite this painful decision we can now face the new season by focusing on the field and not on the courts. We now focus our attention on the Championship and the Italian Cup: we will do our utmost to give our fans the greatest possible satisfaction in these competitions,” he added.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor