If English football needed proof of how hard it is to dispel the clouds cast by a major financial scandal, they need only look at Italy.
While Manchester City start to confront accusations of financial breaches, Juventus have been under investigation for almost two years… 🧵
While Manchester City start to confront accusations of financial breaches, Juventus have been under investigation for almost two years… 🧵
Scrutiny on #Juve has been four-pronged:
▪️ Inspections & audits conducted
▪️ Prosecutors in Turin wire-tapped executives & carried out searches
▪️ Disciplinary proceedings brought against Juve & other clubs last April
▪️ UEFA have opened investigation into potential breaches
▪️ Inspections & audits conducted
▪️ Prosecutors in Turin wire-tapped executives & carried out searches
▪️ Disciplinary proceedings brought against Juve & other clubs last April
▪️ UEFA have opened investigation into potential breaches
Proceedings brought by the federal prosecutor of the Italian Football Federation (IFF) prompted punishments: a 15-point penalty, a two-year ban from Italian football for former chairman Andrea Agnelli & a 30-month ban for former sporting director Fabio Paratici, now at Tottenham.
Juventus were asked for information regarding transfer revenue. They'd raised astonishing income from player trading — €157m for 2018-19 & €172m for 2019-20.
What intrigued CONSOB, the Italian equivalent of the US securities & exchange commission, was ‘plusvalenze’.
What intrigued CONSOB, the Italian equivalent of the US securities & exchange commission, was ‘plusvalenze’.
Plusvalenze is the Italian term for capital gains, accrued from cross-transactions — the criteria used to value the players involved and the effects on a listed company’s accounts.
Colloquially, football fans and media alike have tended to think of them as swap deals.
Colloquially, football fans and media alike have tended to think of them as swap deals.
The most high-profile cross-transaction or swap deal happened in 2020 when Miralem Pjanic & Arthur traded places.
Juventus valued Pjanic, who had just turned 30, at €60m. Barcelona considered Arthur worth €72m.
Only €12m in actual money changed hands.
Juventus valued Pjanic, who had just turned 30, at €60m. Barcelona considered Arthur worth €72m.
Only €12m in actual money changed hands.
COVISOC, a watchdog supervising Italian football, passed on a list to IFF president Gabriele Gravina flagging 62 transfers involving 11 Italian clubs between 2019 and 2021.
Forty-two were done by Juventus, of which 36 included lesser-known youngsters.
Forty-two were done by Juventus, of which 36 included lesser-known youngsters.
Of particular interest to investigators was a piece of paper that turned up during the search of Juventus’ premises.
Branded “disturbing”, it was found among Juve director Federico Cherubini’s things & entitled ‘Libro Nero FP’ – ‘Black Book FP’, the initials of Fabio Paratici.
Branded “disturbing”, it was found among Juve director Federico Cherubini’s things & entitled ‘Libro Nero FP’ – ‘Black Book FP’, the initials of Fabio Paratici.
On the paper, Cherubini listed four sections: management, strategy, relationships, behaviour.
“How did we get here?” he wrote. “Senseless signings.”
Dejan Kulusevski - now at Tottenham - is named as a player for whom, in Cherubini’s opinion, Juventus paid over the odds.
“How did we get here?” he wrote. “Senseless signings.”
Dejan Kulusevski - now at Tottenham - is named as a player for whom, in Cherubini’s opinion, Juventus paid over the odds.
Inside the Juventus crisis: The Paratici ‘black book’, Chiellini’s WhatsApps and Ronaldo’s wages.
The full story, by @JamesHorncastle… second thread coming soon ⤵️
theathletic.com/4141896/?sourc…
The full story, by @JamesHorncastle… second thread coming soon ⤵️
theathletic.com/4141896/?sourc…
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