Juventus fined but avoid further points deduction in plea bargain
Juventus reach a settlement with the Italian football authorities over payments to players and the club’s accounts.
Juventus have escaped an additional Serie A point deduction for lying about players paying wages during the COVID-19 pandemic after a plea was approved by the Italian Football Federation tribunal.
Italy’s most successful club agreed to pay a fine of more than 700,000 euros ($751,000) on Tuesday, ending a series of lawsuits in Italian sports courts.
Juventus said they had decided to accept the settlement “in the best interest” of the club itself, their shareholders and stakeholders.
“The settlement of all outstanding FIGC sports proceedings will allow the company to achieve a final result,” Juventus said in a statement, adding that this would remove “tension and instability” and allow the club to focus on the schedule for next season.
Last week, they were given a 10-point deduction in Serie A following a review of their initial 15-point penalty imposed on the club for unauthorized transfer activity.
Juventus have agreed not to appeal the deduction as part of Tuesday’s deal.
The plea deal involved the Turin club allegedly lying about players giving up salary during the 2020 pandemic, while privately assuring those players that they would only miss a portion of what was publicly announced.
By doing so, it was able to artificially reduce losses on the club’s annual balance sheets during the pandemic, as matches were canceled and revenues plummeted.
The Disciplinary Tribunal of the Italian Federation (FIGC) said in a published decision that it had fined the troubled club 718,240 euros ($770,284), while seven of its managers were ordered to pay fines.
Shares of Juventus rose as much as 9.9 percent on the Milan Stock Exchange after the settlement was announced and were up 5.1 percent at 13:50 GMT.
With one game left to play, the deal leaves Juventus seventh in Serie A, allowing them to qualify for next season’s Europa Conference League and even finish fifth, giving them hope of a spot in the more lucrative Europa League . Competition.
However, the club may have to give up a place in European competitions due to sanctions that could be imposed in a separate investigation by UEFA, the governing body of European football, newspapers have reported.
However, excluded from the plea deal is former president Andrea Agnelli, who along with prosecutors requested that his hearing be postponed to June 15 given what the tribunal called “advanced talks” about possible sanctions.
As part of this case, Agnelli, 11 other people and the club itself risk being put on trial.
Juve faces separate criminal proceedings in the affair, with 12 current and former key figures, including former chairman Agnelli, potentially on trial.