The entire Juventus board resigns, including chairman Andrea Agnelli and club legend Pavel Nedved as an ‘extraordinary meeting’ comes amid an investigation into the club’s finances

Juventus board members, led by European Super League founder Andrea Agnelli, have resigned after an emergency meeting at the club.

Agnelli, who was named club president in 2010, is joined by club legend Pavel Nedved and CEO Maurizio Arrivabene along with eight other board members to leave the club.

A club statement confirmed the departures after what was described as an “extraordinary meeting” by Italian media.

La Gazzetta dello Sport said the decision was made after CONSOB, the body responsible for overseeing stock market activities, requested clarification on the club’s balance sheet from June 2021.

Juventus were under investigation for false accounting and false market communications, with prosecutors in Turin investigating suspicious transfers from the 2018, 2019 and 2020 financial statements. Juventus deny any wrongdoing.

Following CONSOB’s request in the June 2021 accounts, the Serie A giants have postponed their general meeting from November 23 to December 27, but the entire board has now resigned before it could. take place.

In a lengthy statement on Juventus.com – which singled out the June 2021 accounts – the Italian side confirmed the resignations.

“The members of the board of directors, given the centrality and relevance of the outstanding legal and technical-accounting issues, considered that it was in the corporate interest to recommend that Juventus adopt a new board administration to solve these problems.

“To this end, on the proposal of Chairman Andrea Agnelli and in order to allow the decision to renew the Board to be submitted to the General Assembly as soon as possible, all the members of the Board of Directors present at the meeting declared that they resigned from their posts.

The board has asked that former Ferrari Formula 1 team principal Arrivabene stay on as CEO to oversee the change, but Agnelli’s departure marks a monumental change.

The club has been owned by the Agnelli family since 1923 with the business dynasty also known for founding automotive giants Fiat.

Agnelli took over as chairman in 2010, marking an incredible period in the club’s history where they won their first Serie A title since 2003 in the 2011/12 season, and went on to win eight more consecutive titles and reach two champions. League finals.

However, the Italian became the subject of a story that shook football in April 2021 when he resigned as chairman of the European Club Association to become vice-chairman of the ill-fated Super League project. European.