(Football news) As a result of violations of UEFA’s Club Licencing and Financial Fair Play rules, Juventus will not participate in European competitions in the upcoming season. Chelsea, a Premier League team, will pay a fine of 10 million euros for providing false financial information, according to UEFA, the body that governs football in Europe.

In December, months after Juventus was among eight teams that negotiated a settlement with UEFA for failing to follow break-even rules, the UEFA Club Financial Control Body (CFCB) formally started an investigation into the Italian team.

The body in charge of controlling football in Europe announced in a statement that it will “impose an additional financial commitment of 20 million euros on the club.

“Of this amount, 10 million euros is conditional and will only be enforced if the club’s annual financial statements for the financial years 2023, 2024 and 2025 do not comply with the accounting requirements,” UEFA added.

Juventus, who finished seventh in Serie A last season and earned a spot in the Conference League knockout round, claimed they had abandoned their right to an appeal but insisted they were innocent.

“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, we have decided not to appeal this judgment,” Juventus Chairman Gianluca Ferrero said.

Ferrero further explained that Juventus’ decision not to appeal was consistent with the strategy they used in a May settlement with the Italian soccer federation (FIGC), when they chose to pay a fine of 718,000 euros and not contest a 10-point penalty.

“As in that case, we prefer to put an end to the period of uncertainty and ensure full visibility and certainty to our internal and external stakeholders about the club’s participation in future international competitions,” Ferrero said.

“Lodging an appeal, possibly to other levels of judgement, with uncertain outcomes and timing, would increase the uncertainty with respect to our eventual participation in the 2024-25 UEFA Champions League.”

Early this month, the Conference League playoffs for the 2023–24 season began.

In addition, UEFA and Chelsea agreed a resolution regarding Chelsea’s submission of insufficient financial data pertaining to “historical transactions” between 2012 and 2019 – before the London club was purchased by the Boehly-Clearlake group in 2022.

“Following the club’s sale in May 2022, the new ownership identified, and proactively reported to UEFA, instances of potentially incomplete financial reporting under the club’s previous ownership,” UEFA said.

“Following its assessment, including the applicable statute of limitations, the CFCB First Chamber entered into a settlement agreement with the club which has agreed to pay a financial contribution of 10 million euros to fully resolve the reported matters.”

Chelsea won’t be taking part in European competition in 2023–24 after an unpredictable season saw them finish 12th in the Premier League.
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