Serie A giants Juventus have dealt with a huge blow as their entire board of directors including president Andrea Agnelli and vice-president Pavel Nedved resigned after a board meeting on Monday.
After finishing fourth in Serie A last season, the Old Lady made a record €254.3m ($264m) loss. The mass resignations came due to the ongoing investigations over the transfers at the club from 2019/20 and 2020/21 seasons.
The Bianconeri released a statement following their board meeting on Monday that read, "Each of the three directors with powers (the Chairman of the Board of Directors Andrea Agnelli, the Vice Chairman Pavel Nedved and the Chief Executive Officer Maurizio Arrivabene) has considered appropriate to forego the powers granted to them."
Juventus also confirmed the appointment of Maurizio Scanavino, previously of FIAT, as General Manager while Maurizio Arrivabene will continue his position of CEO for an interim period. The new board will be selected at a shareholders meeting rescheduled for December 27, however, the meeting was postponed again to January 18.
Meanwhile, Juventus are placed at the third spot in the Serie A standings behind toppers Napoli and second-placed AC Milan while the Italian club faced relegation to the UEFA Europa League playoffs after finishing at the third place in the UEFA Champions League Group H. Portuguese club Benfica Lisbon and Ligue 1 giants Paris Saint-Germain qualified for the UCL knockout stages.