Author: Amrit Santlani
Juventus have been facing a lot of financial problems lately. The Turin club has been through a lot of turbulence and, to make matters worse, the Old Lady has been barred from participating in the European Conference League next season, as well as receiving a hefty fine from UEFA.
Massimiliano Allegri’s side were found guilty of flouting UEFA’s financial fair play rules and were therefore fined £17.14 million.
In addition, Chelsea were also punished for breaching FFP rules, but received a fine of just £8.57 million. According to the European soccer regulator, the London-based club was penalized due to “incomplete” financial reports between 2012 and 2019, under the ownership of Roman Abramovich.
Although Chelsea have agreed to pay the fine imposed by UEFA, Juventus have a catch: the Italian club only have to pay half of the fine and will be exempt from paying the rest, as long as their finances are in line with FFP rules for the next three seasons.
According to a statement from Chelsea and UEFA, the club itself contacted UEFA to report the irregularities in the finances shortly after Todd Boehly took over the club in May 2022. Under the current administration, Chelsea have spent around 600 million pounds on 19 new players, but the FFP violations date back to the Abramovich era and so the club said it had agreed to a “settlement” with UEFA.
“In line with the club ownership group’s fundamental principles of full compliance and transparency with its regulatory bodies, we are grateful that this case has concluded with the proactive disclosure of information to Uefa and an agreement that fully resolves the issues reported“, says Chelsea’s statement.
After Juve were barred from taking part in the UEFA Europa League, Fiorentina could benefit from the decision, as they could get a place in the third-tier continental tournament, depending on the approval of the Italian Football Federation (FIGC).
The latest punishment is yet another blow for the Old Lady, who had already been fined 718,000 euros (£620,000) for a settlement with the Italian soccer authorities relating to an issue over the payment of players’ wages.
Following a hearing into the club’s previous transfers, Juventus were also penalized 10 points in Serie A. Initially, the penalty was 15 points, but it was reduced after Italy’s highest sports court intervened and ordered the case to be re-examined. If it hadn’t been for the sanctions, Max Allegri’s side would have finished fourth and qualified for the Champions League, but as they finished seventh, they will have to settle for a season without continental competitions.
Club president Gianluca Ferrero confirmed that he had accepted the punishments and would not appeal against UEFA’s decision.
“The filing of an appeal, possibly to other levels of judgment, with uncertain results and deadlines, would increase the uncertainty regarding our possible participation in the 2024/25 Uefa Champions League,” Juve’s statement reads.
For the first time since 2011-12, the Italian club will not be playing in Europe. However, some Juve fans may be hopeful for next season, as the last time they didn’t take part in continental competitions, they won Serie A, the first of their nine consecutive titles.
Chelsea also failed to secure a place in Europe, finishing 12th in the Premier League last season, having changed three managers in one year, and then appointing Mauricio Pochettino.