In a recent announcement, the Union of European Football Associations (UEFA) revealed that Italian club Juventus will not participate in European competitions during the 2023/24 season due to breaches of the UEFA Club Licensing and Financial Fair Play rules. The decision comes as a consequence of Juventus’ violations of UEFA’s regulatory framework, which led to their exclusion from the upcoming UEFA men’s club competition.
Additionally, UEFA imposed a 10-million-euro fine on Juventus, contingent on whether the club’s financial records for the 2023, 2024, and 2025 financial years meet the required accounting standards. The financial penalty will be enforced should the accounting requirements not be fulfilled.
In response to UEFA’s decision, Juventus released a statement accepting the sanctions and confirming that they will not appeal the ban. The club acknowledged the alleged violations but maintained that their actions were in compliance with regulations. Despite accepting the verdict, Juventus clarified that it does not constitute an admission of liability.
Gianluco Ferrero, the President of Juventus, expressed regret over the UEFA Club Financial Control Body’s decisions. He emphasized that the club preferred to bring an end to the period of uncertainty surrounding the potential participation in the 2024/2025 season of the Champions League, which could have implications on an appeal procedure.
The focus for Juventus now shifts to their domestic competitions, the Championship and the Italian Cup. The club aims to provide their fans with the utmost satisfaction in these events. Having finished seventh in Serie A last season, Juventus qualified for the Conference League playoff round.
Consequently, Fiorentina, who secured the eighth position in Serie A last season, is expected to replace Juventus in the Conference League.
In addition to the sanctions imposed on Juventus, UEFA also reached a settlement with Premier League side Chelsea. The settlement was related to the submission of incomplete financial information concerning “historical transactions” that took place between 2012 and 2019, before Chelsea’s acquisition by the Boehly-Clearlake consortium in 2022.
Following the club’s sale in May 2022, the new ownership proactively reported instances of potentially incomplete financial reporting to UEFA. In response, Chelsea cooperated fully with UEFA’s investigation, resulting in a settlement agreement between the club and the football governing body.
As part of the settlement, Chelsea will pay a fixed financial contribution of 10 million euros to UEFA. Consequently, Chelsea, having finished 12th in the Premier League after a turbulent campaign, will not participate in European competitions during the 2023-24 season.
Similar Posts:
- Manchester United’s European Football Ambitions Under Threat Amid OGC Nice Ownership Complexities
- The most successful managers in football history by trophies won: Ferguson, Guardiola, Mourinho…
- Manchester United Faces Champions League Ban Threat Amid Sir Jim Ratcliffe’s Partial Takeover
- UEFA Allows Manchester United to Compete in Europa League Despite Ownership Rules
- Manchester City and Chelsea Face Premier League Expulsion Threat Over FFP Breaches
