Juventus respond to financial mismanagement investigation

Juventus have stressed their innocence after seeing their headquarters raided by police as part of an investigation into alleged false accounting.

Officials went to offices in both Turin and Milan to pick up paperwork relating to Juventus’ financial records over the past few years, with investigators not convinced about the validity of their transfer profits between 2019 and 2021.


In a statement on Saturday evening, Juventus insisted they were happy to work with the prosecutors as they believe they have nothing to hide.

Juventus acknowledges that the Public Prosecutor’s Office of the Court of Turin has started investigations against the Company and some of its current officers (Andrea Agnelli), Pavel Nedved and Stefano Cerrato) and former officers concerning item ‘Revenues from players’ registration rights” of the financial statements as of and for the years ended June 20, 2019, 2020 and 2021,” the statement read.

“The Company is cooperating with the investigators and with CONSOB and trusts that it will clarify any aspect of interest to it as it believes to have acted in compliance with the laws and regulations governing the preparation of financial reports, in accordance with accounting principles and in line with the international practice in the football industry and market conditions.

“In connection with the capital increase, which was resolved upon by the Shareholders’ meeting on October 29, 2021, the Company hereby confirms the timing disclosed in the press release dated November 22, 2021 and, accordingly, that the period for the exercise of pre-emptive rights and trading of such rights will commence on November 29, 2021.”

Investigators are believed to be looking into no fewer than 42 transfers from the club, the most prominent of which was the controversial swap deal with Barcelona involving midfielders Miralem Pjanic and Arthur, neither of whom have been accused of any wrongdoings.

Reports have also suggested that the manner in which Juventus declared Cristiano Ronaldo’s wages is also under investigation. Again, the player himself is not believed to have any involvement in this.

Prosecutors are focusing on false documents from companies related to Juventus and invoices for non-existent transactions, with fears that the Bianconeri may have made up their income in order to balance the books.

Juventus have argued their innocence, but prosecutors continue to trawl through the mountain of paperwork.

Source of the article

Author: XenBet