Juventus will not be allowed to compete in the Europa Conference League after UEFA fined the Italian side for Financial Fair Play breaches.
Juventus have been booted out of the Europa Conference League by UEFA for financial wrongdoing.
The Old Lady will miss out on the chance to play in Europe’s third tier competition. The CFCB First Chamber concluded that the Italian side breached the UEFA’s regulatory framework and went against a settlement agreement signed in August 2022.
Fiorentina, who finished eighth in Serie A, one spot below Max Allegri’s side, will now get the chance to play in the Europa Conference League. UEFA have also ordered Juventus to pay a fine of £17.14m – although they will only have to pay half of their fine if their financial records for the next three years comply with regulations – for breaking Financial Fair Play rules whilst Chelsea too have been reprimanded.
The Serie A outfit have endured a difficult 12 months, which saw previous president Andrea Agnelli, as well as other members of the board, resign for breaching rules. It saw them deducted points in Serie A which hampered their season.
Juventus chiefs though have made it known they will not be challenging the decision from UEFA, despite disagreeing with it, as it would affect their preparation for the upcoming season. The club haven’t been able to win Serie A for the last three seasons following an era of dominance.
President Gianluca Ferrero said: “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. However, we have decided not to appeal this judgment.
“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. Lodging an appeal, possibly to other levels of judgement, with uncertain outcomes and timing, would increase the uncertainty with respect to our eventual participation in the 2024/25 UEFA Champions League. Despite this painful decision we can now face the new season by focusing on the field and not on the courts.”
Chelsea’s punishment comes after they breached FFP rules as a result of “submitting incomplete financial information”. The sanctions from UEFA relate to transactions which took place between 2012 and 2019. The club have spent over £600m since Todd Boehly arrived, but it is their dealings under Roman Abramovich which have seen them punished.
Europe’s governing body said: “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.”