Juventus News: Juventus reaches settlement in salary case with no further point deductions
On Tuesday, the football authorities in Italy announced that they had come to an agreement with Juventus regarding a case that focused on suspected irregularities in the payment of players’ salaries.
By settling the matter, the club, which is the most successful in Italy, hopes to resolve any issues with the authorities before the current Serie A season ends and to bring clarity to its future, which has been affected by financial scandals.
Juventus has agreed to pay a fine of 718,000 euros and will not appeal ongoing sports cases. They will not receive any further point deductions for this season, as they had previously lost 10 points in a separate case related to player transfers.
Following the announcement of the settlement, shares in Juventus rose by up to 9.9% and were up 6.5% by 13:25 CET. Although Juventus maintains the correctness of their actions and arguments, they have decided to accept the settlement in the best interest of the club, shareholders, and stakeholders.
“The settlement of all open FIGC sports proceedings allows the company to achieve a definite result,” Juventus said in a statement, adding this would remove “tension and instability” and allow the club to focus on planning for next season.
Juventus has secured a spot in next season’s Europa Conference League and still has a chance to qualify for the more lucrative Europa League, despite being in seventh place in the Serie A table with one match remaining.
However, the club may have to give up their place in European competitions due to potential sanctions from UEFA in a separate investigation. The settlement reached on Tuesday also includes fines for seven current and former Juventus executives, and the position of former Chairman Andrea Agnelli will be evaluated in a hearing on June 15th. The investigations into Juventus were initiated by criminal prosecutors in Turin regarding alleged false accounting, which could result in Agnelli, 11 others, and the club itself facing trial.
Juventus has denied any wrongdoing and claims their accounting practices are in line with industry standards.
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