Juventus chairman Andrea Agnelli, along with the soccer team’s entire board of directors, late on Monday resigned amid a probe into alleged wrongdoing related to the company’s last-three-year financial filings.
“We are facing a delicate moment as a company and the unity has failed,” Agnelli said on Monday in a letter to employees, which was viewed by Bloomberg. “It is better to leave everyone together, giving the possibility to a new team to overturn that game.”
The dramatic exits follow an investigation by the public prosecutor’s office in Turin and the Italian Companies and Exchange Commission (CONSOB) into some of the soccer club’s recent financial balance sheets, regarding alleged false accounting and market manipulation.
Photo: AFP
Juventus said it would have to restate its financial statement for this year, after a review of how players were accounted for.
The team added that it had amended its balance sheets, to be approved by shareholders on Dec. 27.
The club has denied any wrongdoing.
Since 2010, Juventus won nine consecutive Serie A titles under the leadership of Andrea Agnelli. However, his reputation suffered after his attempt at leading the so-called European Super League, a project that crumbled just days after its launch as teams pulled out after drawing ire from fans, politicians and sports officials.
The Agnelli family, which founded automaker Fiat SpA nearly 125 years ago, manages most of its properties through holding company Exor NV. It also controls Ferrari NV, CNH Industrial NV and media publisher The Economist Group Ltd, and is the largest single investor in Stellantis NV.
The Agnelli family has owned Juventus since 1923, and manages it through Exor, led by CEO John Elkann.
Juventus deputy chairman Pavel Nedved and CEO Maurizio Arrivabene offered to resign, but the board of directors asked Arrivabene to stay in the job, the letter said.
The company also said it had appointed Maurizio Scanavino as general manager, and Gianluca Ferrero as chairman.
Scanavino is CEO and general manager of GEDI Gruppo Editoriale SpA, the media company owned by the Agnelli family. Tax adviser Ferrero holds positions at shipbuilder Fincantieri SpA and Luigi Lavazza SpA
In September, Juventus reported a 254 million euros (US$263 million) loss, the largest in Serie A history.
The club attributed the poor figures for the 2021-2022 season partly to the effects of COVID-19 and due to an early exit from the UEFA Champions League.
New Taipei Kings guard Jeremy Lin on Friday was named the Taiwan Professional Basketball League’s (TPBL) Player of the Month, the first domestic player to win the award, while the Hsinchu Toplus Lioneers are to welcome their third head coach in less than a year. Lin averaged 22 points, 5.4 rebounds and 6.6 assists over five games in October and last month, helping the Kings to second in the standings with a 4-2 record as of Friday. The Kings last night defeated the Lioneers 96-78 to move level with the top-of-the-table Formosa Dreamers (5-2), while in the night game, the New Taipei
‘REMARKABLE’: Gaelic football is a traditional Irish sport that blends the skills of soccer and rugby, and hurling is an ancient sport played with a wooden stick and ‘sliotar’ The Taiwan Celts Gaelic Football Club marked a milestone achievement at the Asian Gaelic Games in Bangkok on Nov. 23 and 24, with two sides advancing to the knockout stages and competing at hurling for the first time. The event brought together 68 teams from 16 clubs across Asia, with more than 800 players in men’s and women’s tournaments. Gaelic football is a traditional Irish team sport that blends the skills of soccer, rugby union and basketball. Hurling is an ancient Irish sport played with a wooden stick, called a hurley, and a small ball, or sliotar. The Taiwan Celts’ women’s team reached
LIVERPOOL WIN: The 50th Champions League goal by Mohamed Salah helped the leaders of the Premier League to keep their perfect record intact Real Madrid’s big stars on Tuesday turned on the style to revive the Spanish giant’s faltering UEFA Champions League title defense. Galacticos Kylian Mbappe, Vinicius Junior and Jude Bellingham all scored in a thrilling 3-2 win against Serie A leaders Atalanta BC. However, Madrid still had to ride their luck as Mateo Retegui fired over from in front of goal in stoppage-time when handed a golden chance to level the game. It was only Madrid’s third win in the competition’s revamped league phase and leaves the 15-time champions in the unseeded playoff positions in 18th place. “It’s a very important win. Not everyone wins
TO NO AVAIL: The Denver Nuggets’ Serbian center Nikola Jokic surpassed his 53-point performance in the 2023 Western Conference semi-finals against Phoenix The Washington Wizards withstood a 56-point explosion from Denver star Nikola Jokic to beat the Nuggets 122-113 on Saturday and snap their 16-game NBA losing streak. Jokic, who won his third NBA Most Valuable Player (MVP) award last season, posted a career scoring high — surpassing a 53-point performance in game four of the 2023 Western Conference semi-finals against Phoenix and a 50-point regular-season best against Sacramento in 2021. The Serbian big man added 16 rebounds and eight assists, but it was all to no avail as Washington, buoyed by 39 points from Jordan Poole, won for the first time
RSS