LaLiga Demands 'Immediate Sanctions' Against Juventus After Board Resignations
On Tuesday, Spanish top-flight LaLiga demanded "immediate" sanctions be imposed on Juventus over claims the Italian club had acknowledged account irregularities intended to mislead the UEFA financial fair play authorities.
Facts
- On Tuesday, Spanish top-flight LaLiga demanded "immediate" sanctions be imposed on Juventus over claims the Italian club had acknowledged account irregularities intended to mislead the UEFA financial fair play authorities.
- The request comes after the entire Juventus board of directors, including chairman Andrea Agnelli, vice president Pavel Nedved, and CEO Maurizio Arrivabene, resigned Monday, citing "pending legal and technical/accounting matters.”
- Although Juventus recently faced accusations of reporting inflated capital gains on player transfers, Forbes reported that this latest move likely stems from an investigation into possible financial fraud during the COVID pandemic.
- Exor, Juventus' parent company, indicated it will tab Gianluca Ferrero to replace Agnelli, while shareholders are set to meet on Jan. 18 to appoint the new board. The club finished fourth in Italy's Serie A last season, setting an Italian record with their €254.3M loss.
- Juventus — which has seen its stock drop by more than 40% in the past year — has announced plans to share fresh financial statements for the 2021-22 season after obtaining, "new legal and accounting opinions from the independent experts to assess the issues raised by (Italian market regulator) Consob."
- Agnelli succeeded Jean-Claude Blanc as Juventus chairman in 2010 and rebuilt the club, which was still recovering from the infamous Calciopoli scandal at the time. He moved Juventus to a new stadium, and balanced the team’s finances — Juventus then went on to win nine league titles in a row.
Sources: ESPN, Forbes, BBC News, Financial Times, and Athletic.
Narratives
- Narrative A, as provided by LaLiga. Juventus has long been accused of violating UEFA financial rules, and the resignation of its board of directors came with an admission that it had committed accounting irregularities. Sports authorities must impose sanctions on the Italian club to protect soccer and ensure that sustainability rules are adhered to.
- Narrative B, as provided by Ansa. LaLiga should be focused on the problems of Spanish clubs, instead of attacking Juventus and urging UEFA to punish the club. The soccer world is facing troubling times all over Europe, and no entity should be penalized before a trial has been held.
