Juve under investigation over financial breaches
Serie A giant Juventus is in a crisis after their entire board resigned this week, and the club now faces an investigation from the Club Financial Control Body (CFCB).
It comes amid an investigation into alleged tax fraud, which Juve have denied, and on the back of the club registering a record loss of €254.3million for 2021-2022.
On Friday, UEFA announced the CFCB had opened an investigation.
"The CFCB First Chamber has today opened a formal investigation into Juventus FC for potential breaches of the Club Licensing and Financial Fair Play regulations," a statement from UEFA read.
"The investigation will focus on the alleged financial violations that were recently made public as a result of the proceedings led by the Italian Companies and Exchange Commission (CONSOB) and the public prosecutor in Turin.
"On 23 August 2022, the CFCB First Chamber concluded a settlement agreement with Juventus FC. This settlement agreement was concluded on the basis of the financial information previously submitted by the club pertaining to the financial years closing in 2018, 2019, 2020, 2021 and 2022."
The statement added that if the CFCB's investigation finds Juve's financial situation was "significantly different" from what was assessed at the time the settlement was agreed, then the CFCB has reserved the right to terminate the agreement and take "any legal step it may deem appropriate, and impose disciplinary measures".
