UEFA has officially given Juventus a one-year ban from the Conference League over the violation of financial fair p lay rules. This decision of the UEFA was confirmed on Friday, July 28 when the European football announced the breach of its financial rules.
The UEFA has also handed a hefty fine of USD 22 million to the Italian giants with half the amount suspended. The governing body clarified that the 10 million euros will be added if the 2023, 2024 and 2025 financial years do not meet their accounting requirements. “Juventus violated UEFA’s regulatory framework… and it was decided to exclude Juventus from the 2023/24 UEFA men’s club competition,” part of the official statement read.
The Italian club has accepted the ruling of the UEFA as their President Gianluca Ferrero’s statement read, “We regret the decision of the UEFA Club Financial Control Body. We do not share the interpretation that has been given of our defense and we remain firmly convinced of the legitimacy of our actions and the validity of our arguments.”
In the statement, he further added that the club will not appeal this judgement and will face the decision imposed by the UEFA. “However, we have decided not to appeal this judgement. Despite this painful decision, we now face the new season by focusing on the field and not on the courts,” his statement read.
It is to be further understood that Juventus’ Europa Conference League spot will now go to Fiorentina in the playoffs, starting August 24.
Chelsea also fined USD 11 million over separate rulings
It is to be further added that Chelsea has also been handed USD 11 million fine for submitting incorrect financial information between 2012-19. This was when before the club’s acquisition by the Boehly-Clearlake consortium in 2022.
“Following the club’s sale in May 2022, the new ownership identified and proactively reported to UEFA, instances of potentially incomplete financial reporting under the club’s previous ownership,” a part of UEFA’s statement read. “Following its assessment, including the applicable statute of limitations, the CFCB First Chamber entered into a settlement agreement with the club which has agreed to pay a financial contribution of 10 million euros to fully resolve the reported matters,” it continued.
The London club, which finished 12th in the Premier League will also not be competing in Europe in 2023-24.