Juventus kicked out of Europe over financial rules breach, Chelsea fined

PARIS – Juventus will not play in Europe next season after being banned over breaches of Uefa’s Financial Fair Play rules, while Premier League side Chelsea will pay €10 million (S$14.7 million) for submitting incomplete financial information, European football’s governing body said on Friday.

The Uefa Club Financial Control Body (CFCB) opened a formal investigation into Juventus in December, months after the Italian side were among eight clubs that reached a settlement with Uefa for failing to comply with break-even requirements.

In a statement on Friday, Uefa also said it would “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,” it added.

Juventus, who qualified for the Conference League play-off round after finishing seventh in Serie A last term, said they had waived the right to appeal that decision but maintained their innocence.

“We do not share the interpretation that has been given of our defence, and we remain firmly convinced of the legitimacy of our actions and the validity of our arguments,” chairman Gianluca Ferrero said.

“However, we have decided not to appeal this judgment.”

Ferrero added that the club’s decision not to appeal was in line with the policy they employed during a settlement with Italy’s football federation in May, when they opted to pay a fine of €718,000 and not challenge a 10-point penalty.

“As in that case, we prefer to put an end to the period of uncertainty and ensure full visibility and certainty to our internal and external stakeholders about the club’s participation in future international competitions,” he said.

Uefa also reached a settlement with Chelsea over the submission of incomplete financial information, related to “historical transactions” between 2012 to 2019 – which is also before the London 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,” Uefa said.

“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 to fully resolve the reported matters.”

Chelsea, who finished 12th in the Premier League following a chaotic campaign, will not be competing in Europe in the 2023-24 season. REUTERS