The entire board of directors at Juventus, including president Andrea Agnelli, have resigned with the Italian club set to replace him with Gianluca Ferrero.
The board of directors for the Italian giants met on Monday night where it was decided that president Andrea Agnelli, vice-president Pavel Nedved and managing director Maurizio Arrivabene, among others, would all step down from their positions.
Agnelli is a major player in European football and is one of the founding voices behind the disastrous attempt to launch a European Super League last year. He has been Juve president for 12 years and has been a prominent voice over the past few years in particular.
The collective resignation comes after Juventus’ financial statements underwent scrutiny by prosecutors and Italian market regulator Consob in recent months for alleged false accounting and market manipulation. The company has denied any wrongdoing.
On October 25, Juventus said in a statement: “Juventus remains convinced… 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.”
The allegations are that Juventus misrepresented financial losses in the period 2018 between 2020 – a period when Fabio Paratici worked as the club’s chief football officer. The 50-year-old Italian is now Tottenham ’s managing director of football.
In Agnelli’s reign, Juventus became one of the powerhouses of European football by dominating the Italian leagues. Juventus won nine Serie A titles in a row until 2019-20.
However, Juventus have fallen off their perch in recent seasons, with Inter and AC Milan winning the last two Serie A titles respectively.
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Juventus are currently third in the Serie A table, 10 points behind leaders Napoli, and are currently managed by Massimiliano Allegri – who Agnelli let go in 2019 only to rehire him 18 months later.
Juventus were also knocked out of the Champions League group stages earlier this month and dropped into the Europa League – a further blow to their financial standing.
