Shares in Juventus have fallen by 10% following the imposition of a 15-point deduction by Italian soccer authorities over irregularities in its transfer dealings, striking a serious blow to the club’s standing.
The most successful club in Italian league history, Juventus, is currently ninth in Serie A and faces an uphill battle to qualify for lucrative European competition.
Sunday evening in Turin, Juventus drew 3-3 with Atalanta in their first game since the sanction was revealed late on Friday.
The club stated that it will await the decision’s rationale, which is expected by the end of the month, before appealing the sanction to the Italian Olympic Committee, a higher sporting court.
Juventus, which is owned by the Exor holding of the Agnelli family, has been investigated by sporting and legal authorities for its accounting, which the club claims is in accordance with industry norms.
The club is also believed to have agreed to reimburse players for the majority of their Covid-related wage reductions without properly accounting for it, which could result in further disciplinary action.