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… 🧵 A black and white stylised image including Andrea Agnelli, F
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 Juventus' club badge
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. An illustration of Andrea Agnelli on a wallFabio Paratici
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’.
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.
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. Miralem Pjanic and Arthur Melo playing in the Champions Leag
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.
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. Libro Nero FP - Black Book FP
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. Dejan Kulusevski cutting a frustrated figure
Inside the Juventus crisis: The Paratici ‘black book’, Chiellini’s WhatsApps and Ronaldo’s wages.

The full story, by @JamesHorncastle… second thread coming soon ⤵️

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More from @TheAthleticFC

Feb 9
The financial storm around Juventus has battered the reputation of one of European football's powerhouses, catching in its eye some of football’s biggest names, including Cristiano Ronaldo & Giorgio Chiellini. Giorgio Chiellini and Crist...
Juventus’ change in strategy was signalled by signing Ronaldo in 2018 for €116m.

Fabio Paratici had knocked on the door of Andrea Agnelli’s office; Jorge Mendes had confided in him the desire of Ronaldo to play for #Juve

Paratici told Agnelli to sign him.
Juventus’ executives locked themselves away in a villa on Lake Maggiore to crunch the numbers.

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The Premier League’s decision to hit Manchester City with more than 100 financial fair play-related charges is unprecedented, surprising & potentially transformative in terms of the football landscape.

This is what has happened, why it has taken place now & what comes next 🧵
Manchester City are accused by the #PL of the following:

▪️ Not providing accurate financial information
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Manchester City expressed their “surprise” at the Premier League’s charges & pushed back against claims they had failed to cooperate fully with the investigation.

#MCFC are determined to defend themselves against the allegations & are confident of doing so.
Read 8 tweets
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🇦🇷 Argentina
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We've provided the ultimate guide to six of the most compelling nations at the World Cup over on our YouTube channel.

A thread 🎥👇
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@JamesHorncastle & @LiamTharmeCoach provide the ultimate guide to Argentina at the World Cup... #ARG

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Players and staff recall the tournament and the emotions that came with it.

A thread🧵 Image
🏴󠁧󠁢󠁥󠁮󠁧󠁿 𝐖𝐡𝐞𝐫𝐞 𝐚𝐫𝐞 𝐭𝐡𝐞𝐲 𝐧𝐨𝐰: 𝐔𝐧𝐝𝐞𝐫-𝟏𝟕 𝐖𝐨𝐫𝐥𝐝 𝐂𝐮𝐩 𝐖𝐢𝐧𝐧𝐞𝐫𝐬 🏴󠁧󠁢󠁥󠁮󠁧󠁿

𝟐𝟎𝟏𝟕:
𝐍𝐚𝐦𝐞: Steve Cooper
𝐏𝐨𝐬𝐢𝐭𝐢𝐨𝐧: Manager

𝟐𝟎𝟐𝟐:
𝐂𝐥𝐮𝐛: #NFFC Image
🏴󠁧󠁢󠁥󠁮󠁧󠁿 𝐖𝐡𝐞𝐫𝐞 𝐚𝐫𝐞 𝐭𝐡𝐞𝐲 𝐧𝐨𝐰: 𝐔𝐧𝐝𝐞𝐫-𝟏𝟕 𝐖𝐨𝐫𝐥𝐝 𝐂𝐮𝐩 𝐖𝐢𝐧𝐧𝐞𝐫𝐬 🏴󠁧󠁢󠁥󠁮󠁧󠁿

𝐍𝐚𝐦𝐞: Conor Gallagher
𝐏𝐨𝐬𝐢𝐭𝐢𝐨𝐧: Midfielder

𝐂𝐥𝐮𝐛:
𝟐𝟎𝟏𝟕: #CFC
𝟐𝟎𝟐𝟐: Chelsea Image
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A thread... 🧵 ImageImage
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#PSG #Messi
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#PSG #Messi
Read 6 tweets

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