Juventus Investigated For €282m Inflated Transfers

Juventus are reportedly under investigation for false accounting related to the transfer of over 42 players in and out of the club, including Cristiano Ronaldo. The club’s offices were raided for paperwork on Thursday night, then repeated on Friday afternoon in both Turin and Milan. Serie-A giants Juventus are reportedly under investigation regarding the false accounting of over 42 player transfers between 2019 and 2021. Juve risk more than the other clubs under the wider-ranging investigation, because they are floated on the stock exchange and therefore the transfer fees and revenue fall under the purview of the Guardia di Finanza Italy’s financial police. As reported by Goal, the club’s Turin and Milan offices were raided by Italian police officers on Friday, November 26, as they were in search of documents related to transfers, invoices, and financial statements.

The club is being investigated regarding the profit made from transfers and agent fees between the years 2019 to 2021, which also includes the legendary footballer Cristiano Ronaldo. Ronaldo exited Juventus during the Summer Transfer Window 2021 and returned to Premier League club Manchester United. As per Goal.com’s report, six officials from the Italian club including president Andrea Agnelli and vice-president Pavel Nedved face the investigation. At the same time, Fabio Paratici, who joined Tottenham Hotspur in the summer also faces the investigation being carried out by Italian football watchdog COVISOC and finance regulator Consob. As mentioned in the report by Goal, a statement by the Turin Public Prosecutor’s office confirmed the news, while explaining the whereabouts of the charge. The statement read, “Since this afternoon, on the orders of this Public Prosecutor's Office, soldiers of the Guardia di Finanza have been carrying out local searches at the Turin and Milan offices of Juventus Football Club SpaThe financiers of the Turin Economic-Financial Police Unit, delegated to the investigations, were instructed to find documentation and other useful elements relating to the company financial statements approved in the years from 2019 to 2021, with reference to both the purchase and sale of rights to the sports performance of the players, and the regular formation of financial statements”. The statement further stated, “At present, the activities are aimed at ascertaining the crime of false communications from listed companies and issuing invoices for non-existent transactions, towards the top management and the managers of the business, financial and sports management areas”. The statement further implied that various transfer operations of players and the services provided by some agents involved in relative intermediaries are under consideration. As per Gazzetta dello Sport, the 42 players whose transfers are under the scanner include players like Miralem Pjanic, Arthur, Danilo, and Joao Cancelo among the others.