This news means that the capital gains and salary manoeuvres cases that have dominated the 2022/23 season for Juventus have now come to an end within Italy. The matter is not fully closed continentally, as there is a chance UEFA will impose further punishment for their financial misconduct.
As part of the deal, Juventus will not be launching a fresh appeal against the 10-point deduction that they were handed on May 2022 which took them out of the Serie A top four.
Clarity within Italy for Juventus
Whilst it has been a terrible season off of the pitch for Juventus at club level, the Bianconeri can now prepare for the 2023/24 Serie A season in the knowledge that they will not be handed further fines or points deductions by the FIGC.
Despite presumably being pleased to not have domestic rulings hanging over them all summer, the club have denied any wrongdoing on this and said their accounting is in line with industry standards.
“The settlement of all open FIGC sports proceedings allows the company to achieve a definite result,” Juventus said in a statement. They also said it would remove ‘tension and instability’ ahead of the new campaign.
The hearing on Tuesday, May 30, took place as part of a separate investigation from the capital gains scandal. This investigation was known as Prisma and it brought allegations of false accounting, false financial statements and market manipulation.
Why might UEFA punish Juventus?
Juventus were fined €3.5 million in September 2022 for Financial Fair Play violations and they could have paid up to €23 million had it not been for the signing of various agreements based on balance sheets they provided to the organisation.
These are the same balance sheets used by both the FIGC and the Public Prosecutor’s Office in Turin for their respective capital gains investigations. Numerous directors formerly of Juventus have been punished for their roles in capital gains fraud, but for UEFA, it needs to go even further.
The Bianconeri settled on a fine for Financial Fair Play, acknowledging that they were outside of the parameters. However, the plea bargain would not have been granted if the reported figures were false, and Juventus’ disqualification from the Champions League, Europa League and/or Europa Conference League is possible.
While the likes of Paris Saint-Germain and Manchester City inflated sponsorship values, the revenues generated were real figures. Meanwhile, Juventus have been accused of falsifying balance sheets.