Juventus' president, his board stepped down to pave way for investigations

Andrea Agnelli and his entire board have resigned after Juventus registered a loss during the 2020/22 Italian Serie A season.

It has also been revealed that the main reason that has led to the mass resignation is false accounting at the club after Juventus' financial statements underwent scrutiny by prosecutors and Italian market regulator Consob in recent months

"The Board of Directors, considering the focus and relevance of the pending legal and technical-accounting issues, have deemed it in the best interest to recommend that Juventus adopt a new Board of Directors to deal with these issues." Read Juventus' statement.

Andrea Agnelli, president of Juventus FC looks on during the Serie A 2022/23 football match between Torino FC and Juventus FC at Olimpico Grande Torino Stadium, Turin, Italy on October 15, 2022. AFP

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Laurence Debroux, Massimo Della Ragione, Katryn Fink, Daniela Marilungo, Francesco Roncaglio, Giorgio Tacchia and Suzanne Keywood who were part of the Juve board have also stepped down to ease the ongoing investigations.

Maurizio Arrivabene who is Juventus' chief executive handed in his resignation letter also but he has been asked to oversee a smooth transition in the club's hierarchy before leaving.

Turin-born Ferrero is the leading candidate to replace Agnelli and Juventus has actually certified the rumours via a short statement after the exit of the president.

Andrea Agnelli president of Juventus FC looks on during the Serie A 2022/23 football match between Torino FC and Juventus FC at Olimpico Grande Torino Stadium, Turin, Italy on October 15, 2022. AFP

It must be noted that Agnelli was among the ring leaders who were vouching for the scandalous European Super League which failed to take effect in 2021.

Juventus are struggling to get back to their legs after dominating the Italian league for a period of 10 years hence winning 9 Serie A titles during the period.