2023-07-28 17:37:19
During the 2022/23 season, the CFCB Trial Chamber, chaired by Sunil Gulati, opened investigations against Juventus (ITA) and Chelsea FC (ENG) for potential violations of the UEFA Regulations on club licensing and financial fair play.
The CFCB Trial Chamber found that Juventus (ITA) breached the UEFA regulatory framework and breached the settlement agreement signed in August 2022. Therefore, it terminated the settlement agreement reached with the club and decided:
• to exclude Juventus from the 2023/24 edition of the UEFA men’s club competitions; And
• to request an additional financial contribution from the club of EUR 20 million. A share of this amount, €10 million, is conditional and will only be imposed if the club’s annual financial statements for the financial years 2023, 2024 and 2025 do not meet the accounting requirements set out in Annex G of the UEFA Regulations. on club licensing and financial viability.
Regarding Chelsea FC (ENG), the CFCB Trial Chamber found that the club breached the UEFA Club Licensing and Financial Fair Play Regulations by submitting a incomplete financial information.
Following the sale of the club in May 2022, the new owner identified, and proactively reported to UEFA, instances of potentially incomplete financial reporting under the club’s previous management. The points raised relate to old transactions that took place between 2012 and 2019.
After assessment and consideration of a possible statute of limitations, the CFCB Trial Chamber reached a settlement agreement with the club, which agreed to pay a financial contribution of EUR 10 million in order to fully resolve the issues raised.
1690570162
#Conclusion #CFCB #procedure #Juventus #Chelsea #UEFA