The body governing football in Europe, UEFA on Friday have announced the immediate suspension of Serie A club, Juventus from its league competition for one year.
UEFA stated this in a statement which was released on its official website on Friday, July 28, 2023.
According to UEFA, the decision was taken after Juventus was found guilty of breaching financial fair play rule.
The Old Lady will not play in the next season’s (2023/24) Europa Conference League and will pay €20m, Although, €10m of that is conditional and will only be enforced if there are irregularities in Juventus’ annual financial statements for 2023, 2024 or 2025.
“The CFCB First Chamber concluded that Juventus (ITA) violated the UEFA’s regulatory framework and breached the settlement agreement signed in August 2022.
As a result, the CFCB First Chamber terminated the settlement agreement concluded with the club and decided to exclude Juventus from the 2023/24 UEFA men’s club competition. And impose an additional financial contribution of €20 million on the club.
“Of this amount, €10 million is conditional and will only be enforced if the club’s annual financial statements for the financial years 2023, 2024 and 2025 do not comply with the accounting requirements as defined in Annex G of the UEFA Club Licensing and Financial Sustainability Regulations.”
The club had 10 points deducted from their total points in the Serie A table in May for artificially inflating transfer fees to boost capital gains. That saw them ultimately drop down from third place to seventh qualifying for the Conference League.