July 28, (THEWILL) – In a significant blow to one of Europe’s football powerhouses, UEFA has officially announced that Juventus will be banned from participating in European football competitions during the upcoming 2023/2024 season.
The decision comes as a result of an extensive investigation into the Turin-based club’s financial affairs and their violation of UEFA’s regulatory framework. The investigation, conducted by the Club Financial Control Body (CFCB), revealed irregularities and a breach of the settlement agreement the club had previously signed in August 2022.
As a consequence of their actions, Juventus will not be able to compete in the UEFA Europa Conference League, depriving the Italian giants of an opportunity to ply their talents at the continental stage. Alongside the ban, UEFA has imposed a fine of €10 million on the club. However, the financial woes do not end there, as an additional conditional financial contribution of €20 million is set to be enforced if Juventus fails to comply with the accounting requirements outlined in Annex G of the UEFA Club Licensing and Financial Sustainability Regulations for the financial years 2023, 2024, and 2025.
A statement released on the official UEFA website outlined the reasons behind the harsh punishment: “The CFCB First Chamber concluded that Juventus (ITA) violated the UEFA’s regulatory framework and breached the settlement agreement signed in August 2022.”
The severity of the sanctions highlights UEFA’s commitment to maintaining financial integrity and adherence to its rules among its member clubs, regardless of their footballing pedigree.
About the Author
Jude Obafemi is a versatile senior Correspondent at THEWILL Newspapers, excelling in sourcing, researching, and delivering sports news stories for both print and digital publications.
