Juventus have had it good for a very long time in Serie A over the previous decade or so, however now the membership faces an era-defining course of within the wake of mass resignations from the membership’s board.
Investigations into participant funds and transfers have been launched in opposition to the Turin outfit and a gathering earlier this week resulted within the likes of Andrea Agnelli and Pavel Nedved leaving their roles.
Having received 9 Serie A titles in a row, Juve slumped to fourth in each 2020/21 and 2021/22 and have Massimiliano Allegri again within the dugout after temporary spells for Maurizio Sarri and Andrea Pirlo.
So, how have Juve received themselves into this place?
All present board members at Juventus have resigned from their roles following a unprecedented assembly which befell on Monday 28 November.
A press release from Juve reads: “In order to strengthen the Company’s management, the Board of Directors resolved to appoint Mr. Maurizio Scanavino as General Manager (‘Direttore Generale’). Mr. Scanavino’s curriculum vitae is attached to this press release.
“Furthermore, the Board of Directors’ members, given the centrality and the relevance of the pending authorized and technical/accounting issues, thought of in the most effective curiosity of the Company that Juventus supplied itself with a brand new Board of Directors to handle these issues.
“For this purpose, upon proposal of the Chairman Andrea Agnelli and in order to allow the decision on the renewal of the Board to be submitted to the Shareholders’ Meeting as soon as possible, all the members of the Board of Directors present at the meeting declared to forego their office.
“For the identical causes, every of the three administrators with powers (the Chairman of the Board of Directors Andrea Agnelli, the Vice Chairman Pavel Nedved and the Chief Executive Officer Maurizio Arrivabene) has thought of acceptable to forego the powers granted to them. The Board of Directors has, nevertheless, requested Maurizio Arrivabene to keep up the place of CEO.”
Prosecutors and Italy’s market regulator have been putting pressure on Juve since last year over the accounting of players’ salaries and club transfers.
Losses of €254m were recovered for 2021/22 and the meeting to discuss such issues resulted in mass resignations. CONSOB – the body that regulates activity on the Italy stock market – has asked for clarification over the club’s balance sheet.
Salary issues are also being looked into by the Turin prosecutor. Juve acknowledge their own “wage manoeuvres” from the seasons 2019/20 and 2020/21, when players signed agreements with the club to reduce their pay to cut costs during the bleak points of the coronavirus pandemic.
It has been alleged that statements were falsified to show balanced books. Authorities are now looking to prove Juve did not supposedly give up four months’ worth of payments.
Who was on Juventus’ board?
Andrea Agnelli was appointed chairman of the board of directors of Juventus in 2010, becoming the fourth member of the Agnelli family to run the club. He was initially seen positively, taking the team to a new stadium and balancing finances while enjoying on-field success with managers like Antonio Conte and Massimiliano Allegri.
However, in recent years Agnelli’s time in office has been investigated by Turin’s public prosecutor office over the management of tickets at Juventus Stadium and he was eventually fined €100,000 for his role in tickets being sold to ultras. He has also pushed hard for the European Super League alongside La Liga giants Real Madrid and Barcelona, further ostracising himself from Juve fans.
Juventus’ general on-pitch decline – shown by their Champions League group stage exit this season and current lacklustre squad – has also been blamed on Agnelli.
Pavel Nedved is a Bianconeri legend for his playing career in Turin. After starring for Lazio, he joined Juve and won two Serie A titles, also earning a silver medal in the 2002/03 Champions League. The former Czech Republic international would win the Ballon d’Or later that year. He moved into a boardroom role in 2015, becoming vice president that year.
The full record of resignations could be seen beneath.
Current CEO Maurizio Arrivabene will continue in his role until a new board is assembled – a meeting is scheduled for 18 January to determine that new board.
“The Board of Directors will proceed its actions beneath a prorogatio regime till the Shareholders’ Meeting that has been convened for 18 January 2023 to nominate the brand new Board of Directors (aside from Director Daniela Marilungo, who has resigned by way of a separate assertion).
“Juventus will continue to collaborate and cooperate with the supervisory and industry Authorities, without prejudice to the defense of its rights in relation to the challenges raised against the Company’s financial statements and press releases by Consob and the Public Prosecutor’s Office.”
The investigations forged a shadow over gamers’ futures at Juve because the membership could have to promote a couple of of their star property to interrupt even. However, whether or not they are going to be capable of flip a revenue on some squad gamers – with many both too outdated or completely out of shape – stays to be seen.