The Board of Directors of the Juventus club approved the consolidated half-yearly report as at 31 December 2021. In addition to communicating the Juventus accounts, it also confirmed the opening by UEFA of an investigation into possible violations of financial fair play and communicated the remarks made by the club’s accounting and legal consultants on the new documents of the First Investigation filed by the Turin prosecutor’s office
At the Continassa day dedicated to conti and at evaluations of the Prisma investigation on the hypothesis of the crime of false accounting. The Juventus board of directors met under the guidance of the president Gianluca Ferrero. The Board approved the financial report as at 31 December. The first half of the 2022/2023 financial year closes with a loss of 29.5 million euros with an improvement of 82.6 million euros compared to the loss of the first half of the previous year. An improvement due in particular to the 23% revenue growth for €53 million, together with lower costs for licensed personnel for €30.3 million. The shareholders’ equity at December 31, 2022 amounted to €135.2 millionlies thenet financial debt compared to 30 June 2022, it grew by 180 million and is equal to 333 million. An increase in debt linked to the market operations of previous years for a total of 67 million euros and to the purchase of the buildings that house the registered office and the training center at Continassa for a cost of 47.6 million euros.
“Irrelevance from Radical Inquiry Memorandum”
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As regards the Prisma investigation, the company communicated that on February 27th e March 21, 2023the Public Prosecutor’s Office of Turin filed further investigative documents relating to the criminal proceedingwhich the company proceeded to analyze to verify the presence of documents suitable for determining, even if only potentially, accounting effects on the situation. The legal and accounting consultants have ascertained its radical irrelevance and non-existence from a legal point of view, both for the sporting system and for the state one. Consequently, it has not decided to change its analysis of revenues or costs.
Juve confirms ongoing UEFA investigation
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Juve, the UEFA investigation: reasons and what risks
In the half-year report, the Juventus club also confirmed that, last December, UEFA opened an investigation into the club following the investigation by Consob and the Turin Public Prosecutor’s Office, to verify any violations of the Financial Fair Play. “On 1 December 2022 – reads the press release from the Juventus club –the UEFA Control Financial Control Body, “following the alleged financial violations that have recently been made public following the proceedings initiated by Consob and the Public Prosecutor’s Office of Turin”, has launched a procedure aimed at verifying compliance with the UEFA Club Licensing and Financial Fair Play Regulations – 2018 Edition. The Company will fully cooperate with UEFA in the context of the proceeding and will provide all information and useful data aimed at demonstrating that the economic, equity and financial situation of the Company has not significantly changed compared to what reported to the CFCB in the context of signing the Settlement Agreement”.