Juventus’ board resigning en masse on Monday evening was a decision taken to protect the club as best they could, according to claims from sports law expert Andrea Scalco.
Serie A was stunned as news emerged late on Monday that all of Juventus’ board members, including Andrea Agnelli, Pavel Nedved, and CEO Maurizio Arrivabene had resigned from the club.
“It’s a decision that comes unexpectedly,” Scalco told Radio Bianconera on the night of the resignations. “The investigations were ongoing and it was known by everybody that they were. Some phases had even ended.
“Nobody would have expected this at this point. But, advised by lawyers, president Agnelli and the directors opted to protect themselves and the club.
“It is a very important choice for them to make, and not only for the fate of Juventus but for the entire proceedings that will initiate.”
Are Juventus guilty?
Although many have suggested that the decision to resign in such a manner implies wrongdoing at Juventus, Scalco wasn’t willing express that opinion himself.
“It’s still premature to say that,” Salco said. “People who want to think that way can think that way, but we don’t have the answers.
“You can also think that it was a decision taken for corporate continuity.
“It won’t be a last-minute or sudden choice, but I think it’s something that has been thought about in the last few days and weeks with real experts on the case.
“Juventus remains operational and somebody has to man the ship until the next Board of Directors is confirmed on January 18, 2023. Choices will have to be made.
“This decision was made to protect the club as much as possible.”
What is happening at Juventus?
On Monday, November 28, Juventus’ entire board resigned from their positions at the club, including Andrea Agnelli, Pavel Nedved, and CEO Maurizio Arrivabene.
The news is thought to be in relation to the fact that Juventus are being investigated for suspicious transfer activity whereby they allegedly inflated values of players for reasons of capital gains. The financial statements from 2018, 2019 and 2020 are being looked into by investigators. There may also be questions regarding allegedly deferred payments during the COVID-19 pandemic.
Juventus’ board of directors consisted of Agnelli, Nedved, Arrivabene, Laurence Debroux, Massimo Della Ragione, Kathryn Fink, Daniela Marilungo, Francesco Roncaglio, Giorgio Tacchia and Suzanne Heywood. The club confirmed that they had resigned on Monday night.
“Given the centrality and relevance of legal issues and technical-accounting pending, [board members] have deemed, in accordance with the best social interest, to recommend that Juventus provide a new Board of Directors to address these issues,” the Bianconeri said.
“Juventus will continue to cooperate with supervisory and industry authorities, without prejudice to the protection of its rights in relation to disputes against the financial statements and communications of the Company by CONSOB and by the Prosecutor’s Office.”
The club went on to explain that Arrivabene would remain involved until a new board had been founded and that a new Board of Directors would be confirmed in a meeting scheduled for January 18, 2023.
