Juventus shares have collapsed
2023.01.23 05:17
Juventus shares have collapsed
By Kristina Sobol
Budrigannews.com – After Italian soccer officials docked the club 15 points for its transfer dealings, a blow to the club’s reputation and short-term sporting prospects caused shares in Juventus to drop about 10% on Monday.
Juventus, who have won the Italian league more times than any other team, is currently in ninth place in Serie A and will have a difficult time qualifying for a lucrative European competition.
In their first game since the punishment was announced late on Friday, Juventus and Atalanta played to a 3-3 draw on Sunday night in Turin, their home city.
The club stated that it would wait for the reasons for the decision, which should be available by the end of the month. However, it plans to appeal the penalty to a higher sporting court at the Italian Olympic Committee.
New Juventus CEO Maurizio Scanavino said in a statement on Sunday evening, “We believe we’re in a strong position and we’ll continue down this path.” He added that fans of other clubs were also against the decision.
Exor, a member of the Agnelli family, is in charge of Juventus. holding, whose accounting, the club claims is in line with industry standards, has been the subject of scrutiny from sporting and legal authorities.
The club is also said to have agreed to reimburse players for the majority of their COVID-related wage cuts without adequately accounting for them, which could result in additional sporting sanctions.
“We must be prepared for anything. Scanavino said, “Unfortunately, this sentence has taught us that it is pointless to be optimistic or pessimistic,” and he also said he expected the team to win a lot of games.
In regards to allegations of false accounting, a court hearing is scheduled for late March in Turin to determine whether to order a trial for former chairman Andrea Agnelli, 11 others, and the club itself.
Shares are down 8.5% as of 09:07 GMT, outperforming a 0.2% decline in Italy’s all-share index and on track for their worst day since April 2021.
