Juventus Banned From Europe And Chelsea Fined €10m For FFP Breaches

Juventus and Chelsea have both been hit with punishments by UEFA for breaching Financial Fair Play rules. Juventus have been banned from Europe for one season.

Juventus and Chelsea have both been hit with punishments by UEFA for breaching Financial Fair Play rules.

The Premier League club have agreed a settlement with UEFA and will pay a penalty of €10 million for "submitting incomplete financial information".

Meanwhile, Juventus have been banned from competing in all European men's tournaments organized by UEFA during the 2023/24 season.

That means that Juventus will not feature in the third edition of the UEFA Europa Conference League. They will likely be replaced in the play-off round by Fiorentina, who finished one place lower in last season's Serie A.

European soccer's governing body said in a media release that Juventus "violated UEFA's regulatory framework and breached the settlement agreement signed in August 2022."

Juventus have also been issued with a fine of €10m, plus a further suspended €10m fine that will only be enforced if irregularities are found in the club's annual accounts for 2023, 2024 or 2025.

In a club statement, Juventus president Gianluca Ferrero said: "We regret the decision of the UEFA Club Financial Control Body.

"We do not share the interpretation that has been given of our defense, and we remain firmly convinced of the legitimacy of our actions and the validity of our arguments."

However, Ferrero added that Juventus will not be appealing against UEFA's ruling because that "would increase the uncertainty with respect to our eventual participation in the 2024-25 UEFA Champions League."

Juventus will not play in the 2023/24 UEFA Europa Conference League as part of a punishment for breaching FFP regulations :: IMAGO/NurPhoto/Alberto Gandolfo

Chelsea's wrongdoing occurred during the Roman Abramovich era and UEFA said in a statement that the club's new owners - including chairman Todd Boehly - had acted "proactively" in their attempts to resolve the issue.

Meanwhile, a Chelsea club statement issued on Friday read: "Chelsea FC's ownership group completed its purchase of the club on 30 May 2022. During a thorough due diligence process prior to completion of the purchase, the ownership group became aware of potentially incomplete financial reporting concerning historical transactions during the club's previous ownership.

"Immediately following the completion of the purchase, Chelsea self-reported these matters to UEFA.

"Chelsea has fully cooperated and assisted UEFA with its investigation of these matters and, following an analysis by the UEFA Club Financial Control Body, the club has entered into a settlement agreement with UEFA. Under that settlement the club is to pay a financial contribution of €10m to UEFA as a fixed payment.

"In accordance with the club's ownership group's core principles of full compliance and transparency with its regulators, we are grateful that this case has been concluded by proactive disclosure of information to UEFA and a settlement that fully resolves the reported matters.

"We wish to place on record our gratitude to UEFA for its consideration of this matter. Chelsea greatly values its relationship with UEFA and looks forward to building on that relationship in the years to come."

Chelsea have been fined €10 million by UEFA for "submitting incomplete financial information" :: IMAGO/Robert Sambles