Italian football giant, Juventus, has been disqualified from the upcoming 2023/24 Europa Conference League due to violations of UEFA’s financial fair play rules.
The decision was announced by UEFA on Friday, accompanied by a hefty fine of €20 million, half of which is suspended pending future financial assessments.
The governing body of European football stated that Juventus had breached UEFA’s regulatory framework, leading to their exclusion from the prestigious men’s club competition.
Moreover, an additional €10 million fine looms over the club if their financial records for the years 2023, 2024, and 2025 fail to meet the necessary accounting requirements.
Juventus, in response to the verdict, issued a statement accepting the decision and confirming that they will not appeal the sanction.
The club, while deeming the alleged violations as unsubstantial and their actions as appropriate, asserted that their acceptance of the decision should not be seen as an admission of any liability.
Gianluco Ferrero’s Regret
Gianluco Ferrero, the President of Juventus, expressed regret over the UEFA Club Financial Control Body’s decisions.
He emphasized the desire to put an end to a period of uncertainty, which was clouding their possible participation in the prestigious Champions League for the 2024/2025 season.
The expulsion from the Europa Conference League opens the door for Fiorentina, who secured the eighth spot in Serie A last season, to replace Juventus in the competition.
This recent financial fair play breach is not the first time Juventus has faced repercussions for misconduct.
In May, the club agreed to pay a fine exceeding €700,000 ($751,000) for providing misleading information about players foregoing wages during the Covid-19 pandemic.
The fine was part of a plea bargain approved by the Italian Football Federation tribunal, effectively resolving a series of legal cases involving the Turin club.
Earlier, Juventus had suffered a 10-point deduction in Serie A after an investigation into illicit transfer activity, revising their initial 15-point penalty.
The disciplinary tribunal of the Italian federation (FIGC) had imposed a fine of €718,240 on the club, with seven management figures being ordered to pay fines ranging from €47,000 to €10,000.
Chelsea’s Settlement Fine
In the same announcement, UEFA also reached a settlement with English Premier League side Chelsea.
The settlement requires Chelsea to pay a sum of €10 million for “submitting incomplete financial information” during the period of Roman Abramovich’s ownership from 2012 to 2019.
The club’s new owners reported instances of potentially incomplete financial reporting under the previous ownership, leading to the resolution of the reported matters.