Juventus banned from Europe in 2023/24 for breaching Financial Fair Play rules, Chelsea fined
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Updated 28/07/2023 at 20:09 GMT
Juventus will play no European football during the 2023/24 season after being found guilty of breaching Financial Fair Play (FFP) rules by Uefa between 2012 and 2019. The Italian giants have lost their place in the Europa Conference League and have also been fined £17.4 million as part of the ruling. Chelsea have been fined £8.57m for "submitting incomplete financial information."
A Juventus branded corner flag is seen in a general view of the stadium interior prior to the Serie A match between Juventus and US Lecce at Allianz Stadium on May 03, 2023 in Turin, Italy.
Image credit: Getty Images
Juventus have been banned from Europe for the 2023/24 season and fined after UEFA found the club guilty of breaching Financial Fair Play (FFP) rules.
The Italian side finished seventh in Serie A last season and were therefore due to compete in the Europa Conference League.
They have now been stripped of their place in the competition and fined £17.4 million, although they will only have to pay half if they comply with the regulations for the next three years.
UEFA also confirmed that Chelsea have agreed a fine £8.57m for breaching FFP rules relating to the submission of "incomplete financial reporting under the club's previous ownership." The Blues have spent big money since Todd Boehly took over but the breaches are in relation to the seven-year period from 2012 to 2019 when Roman Abramovich was at the helm.
The statement added: "Following its assessment, including the applicable statute of limitations, the CFCB (Club Financial Control Body) First Chamber entered into a settlement agreement with the club which has agreed to pay a financial contribution of 10million euros to fully resolve the reported matters."
Juventus were handed a 10-point penalty that demoted them from second in Serie A after an investigation into the club's transfer dealings by an Italian court and they went on to finish seventh.
The demotion dropped them outside of the Champions League places but in line for a Europa Conference League debut.
The Italian club were also assessed a 15-point penalty in January for "financial irregularities" but it was later rescinded.
Juventus president Gianluca Ferrero said he was "convinced of the legitimacy of our actions" but that the club would accept the ruling.
"We regret the decision of the UEFA." 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.
"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."
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