"UEFA Takes Action: Juventus Banned for Violating Financial Fair Play Rules"

UEFA has taken action against Juventus for breaching financial fair play rules, leading to their exclusion from the upcoming 2023/24 Europa Conference League. The Italian football giants were also fined 20 million euros, half of which is suspended.

According to UEFA, Juventus violated its regulatory framework, resulting in their exclusion from the upcoming tournament. Additionally, they imposed a 10-million-euro fine, which will only be enforced if the club's financial records for the years 2023, 2024, and 2025 do not meet the required accounting standards.

Juventus, in response, stated that they accept the decision and will not appeal the sanctions. However, they clarified that accepting the decision does not imply an admission of guilt regarding the alleged violations. Juventus' president, Gianluco Ferrero, expressed regret over the UEFA Club Financial Control Body's decisions and highlighted the desire to put an end to a period of uncertainty, especially regarding their potential participation in the 2024/2025 Champions League.

As a result of Juventus' exclusion, Fiorentina, who finished in eighth place in Serie A during the previous season, are expected to take their place in the Europa Conference League.

It's worth noting that in May, Juventus had already agreed to pay a fine of over 700,000 euros for providing false information about players foregoing wages during the Covid-19 pandemic. This plea bargain, approved by the Italian Football Federation tribunal, resolved a series of cases involving the club in Italy's sporting courts. Moreover, Juventus had received a 10-point deduction in Serie A following an investigation into illicit transfer activity, and the Italian federation's disciplinary tribunal fined the club and its management figures.

Apart from Juventus, UEFA also reached a settlement with Chelsea, which requires the English Premier League side to pay 10 million euros for submitting incomplete financial information during the Roman Abramovich era. The club's new owners proactively reported these instances of incomplete financial reporting under the previous ownership between 2012 and 2019.

Overall, both Juventus and Chelsea faced consequences for their respective financial reporting issues, with UEFA taking measures to enforce financial fair play regulations.