UEFA bans Juventus from Conference League over violations
A UEFA statement last night said: ‘With respect to Chelsea FC, the CFCB First Chamber concluded that the club breached the UEFA Club Licensing and Financial Fair Play regulations as a result of submitting incomplete financial information.
‘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. The reported matters related to historical transactions which took place between 2012 and 2019.
‘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 are not in European competition next season after they finished 12th in the Premier League. Even though the irregularities stretch back to 2012, UEFA’s rules state Chelsea can only be punished for breaches that happened during the last five years.
UEFA announced that it would ban Italian football club Juventus from the 2023-24 Conference League for violating the Financial Fair Play (FFP) rules.
“The decision of the First Chamber of the UEFA CFCB (Club Financial Control Body) entails the termination of the Settlement Agreement between UEFA and Juventus dated 31 August 2022 and the exclusion of Juventus from the UEFA Conference League of the sports season 2023/2024,” Juventus said in a statement.
The Turin club stated that they are required to pay 20 million euros (approximately $22 million) as a result of the UEFA CFCB decision.
It added that half of the 20 million euro fine is conditional, which means that an additional 10 million euros will be imposed if Juventus fail to comply with the UEFA regulations for the 2023, 2024 and 2025 financial years.
“We regret the decision of the UEFA Club Financial Control Body. We do not share the interpretation that has been given of our defense, and we remain firmly convinced of the legitimacy of our actions and the validity of our arguments,” Juventus said, adding that the club will not appeal the judgment.
[…] Chelsea had a season to forget, finishing in 11th place after racking up more losses than wins. The Blues have spent nearly £200 million this summer looking to upgrade their squad in order to compete for a European spot this season, and their first test comes in the form of a Liverpool side that are also aiming for improvement during this campaign. […]