Earthquake Juventus in Turin. Board of Directors The famous Italian team, one of the most idolized teams in the Alps country, resigned in block. The decision, announced this Monday after being revealed by the Italian newspaper La Gazzetta dello Sport, was also taken by President Andrea Agnelli and vice-president of the controversial European Super League, and secondly, former football player Pavel Nevded, who served as vice-president of the Piedmontese club.
The announcement followed the opening of an inquiry. The investigation by the financial authorities into Turin’s accounts prompted scrutiny from Consob, the commission overseeing the Italian stock exchange, which reviewed the club’s budget plan. The move also required the shareholders’ meeting to be held twice in succession.
Inquiry into accounts
Juve’s difficulties, as fans know, began to surface when law enforcement authorities launched a review of the club’s accounts for the previous year. The news gained traction in the press after registrations at centers in Milan and Turin tied to the club surfaced publicly.
Development records and consolidated balance sheet projects up to 30 June 2022 were shared by the club prior to the leadership renewal. The club also announced the renewal of the Board of Directors in late 2022, a move widely discussed among observers and supporters alike.
During the probe, investigators focused on 2019 and 2020 balance sheet documents. Like many other top clubs, Juve reportedly acknowledged player salary reductions related to the pandemic. The inquiry considered whether such operations were properly disclosed, noting that omitting these adjustments could affect the reported earnings and tax implications for that fiscal year.
According to documents reported by Italian press, there were discussions about a substantial payment to a star player that occurred before the fiscal year closing, raising questions about the timing and recognition of that expense in the accounts for the period in question.