The governing body of football in Europe, UEFA, said on Friday that the Serie A team, Juventus, will be immediately suspended from its league tournament for a year.
On Friday, July 28, 2023, UEFA issued a statement that was posted on its official website.
The decision was made, according to UEFA, after Juventus was judged to have broken the financial fair play criteria.
The Old Lady will forfeit its right to compete in the European Conference League in the upcoming season (2023-2024) and pay €20 million; however, €10 million of that amount is conditional and will only be enforced if Juventus’ financial dealings with the Old Lady are improper.
“The CFCB First Chamber concluded that Juventus (ITA) violated the UEFA’s regulatory framework and breached the settlement agreement signed in August 2022.
“As a result, the CFCB First Chamber terminated the settlement agreement concluded with the club and decided to exclude Juventus from the 2023/24 UEFA men’s club competition. And impose an additional financial contribution of €20 million on the club.
“Of this amount, €10 million is conditional and will only be enforced if the club’s annual financial statements for the financial years 2023, 2024 and 2025 do not comply with the accounting requirements as defined in Annex G of the UEFA Club Licensing and Financial Sustainability Regulations.”
The club had 10 points deducted from their total points in the Serie A table in May for artificially inflating transfer fees to boost capital gains.
That saw them ultimately drop down from third place to seventh qualifying for the Conference League.
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