La Liga demands immediate sanctions on Juventus after board of direction’s’ resignation
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La Liga demands sanctions on Juventus
Following a revamp of the board at the Serie A club due to significant financial losses and claimed financial irregularities, La Liga has demanded sanctions against Juventus FC. The league’s push for stricter regulations in European soccer has led to the request. Amid a probe into allegations of taking illegal commissions from player transfers and loans and using false financial measures in connection with those transactions, the whole Juve board, along with president Andrea Agnelli, stepped down on Monday.
Spain’s La Liga, the top-tier football league that has proposed stricter rules for European teams, has demanded immediate sanctions against Italy’s Juventus Football Club following a surprise board turnaround last night due to a financial controversy. According to people familiar with the situation, La Liga will request that the sport’s European governing body, UEFA, and Italy’s Serie A league instantly impose sanctions regarding point exemptions or financial restrictions.
According to the document, La Liga referred to potential accounting irregularities in connection with reporting for departing transfers of players at above market price and voiced fears that the Italian club might be hiding the real wage bill consented upon with players. The league has voiced its suspicion over certain European teams’ ability to circumvent the so-called financial fair play rules by inflating their revenues or understating their expenses.
Why did the entire Juventus board resign?
The Juve board decided to leave the club in response to an inquiry into allegations of misleading accounting and communication duty on the part of the Serie A biggies, and the explanation of the Bianconeri’s balance sheet, was requested by CONSOB, the body in charge of regulating activity on the Italian stock market. Juve reported record losses of €254.3 million ($264 million; £219 million) for 2021–22.
It has been revealed that present CEO Maurizio Arrivabene, who joined Juventus in 2019 after leaving Formula One team Scuderia Ferrari, will stay in his position whilst the new board is put together. A conference to finish that procedure is timed for January 18, 2023. Agnelli, who was with the Bianconeri since 2010, will step down as president, and Gianluca Ferrero will carry over.
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Khushi Bhanushali
(146 Articles Published)