By Chris King • 28 November 2021 • 1:57
Image: James Hetfield/Instagram
Officers from the Italian police’s financial unit raided the Turin and Milan offices of football giants Juventus on the morning of Saturday, November 27. According to prosecutor Anna Maria Loreto, they were reportedly searching for documents relating to the Serie A club’s transfer activities between 2019 and 2021.
The Italian football club is listed on Milan’s stock exchange, and is the most successful team in the country, having won 36 Serie A titles to date. This investigation allegedly surrounded “revenues from players” registration rights.
A statement issued said that the club was “cooperating with the investigators, and trusts that it will clarify any aspect of interest to it”. It is believed that also under investigation are Andrea Agnelli, who owns Juventus, and is its chairman, along with vice-president Pavel Nedved. Stefano Cerrato, the chief financial officer, is also thought to be under investigation, along with Fabio Paratici, now Tottenham’s director of football.
Anna Maria Loreto, a Turin prosecutor, said the investigation is looking into whether false information was given to investors by senior managers at Juventus, and whether they issued invoices for non-existent transactions.
The Juventus statement added that it “believes to have acted in compliance with the laws and regulations governing the preparation of financial reports, in accordance with accounting principles, and in line with the international practice in the football industry and market conditions”.
Last September, another investigation was allegedly carried out by market regulator CONSOB. This was confirmed by the club at the time, and confirmed that it was in relation to revenue received from player transfers.
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Originally from Wales, Chris spent years on the Costa del Sol before moving to the Algarve where he is a web reporter for The Euro Weekly News covering international and Spanish national news.
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