Francesco Calvo appointed as Juventus’ CFO days after points deduction
After artificially inflating players’ value for capital gains, Juventus was hit with a 15-point deduction penalty, and now the club appoints Francesco Calvo as their new CFO days after the deduction.
were hit with a 15-point penalty for false accounting on Friday after an appeal hearing at the Italian football federation. The deduction has pushed them down to ninth place on the Serie A table.
Now, with the former board resigned in November, the Bianconeri confirms
will become the club's new CFO, reporting to new CEO Maurizio Scanavino.
The Bianconeri have been convicted of inflating players’ values in the market for financial gains. This sees the Old Lady drop to the 10th place in Serie A as their 37 points are now reduced to 22!
The financial prosecutor in Serie A has found Juventus guilty of a series of financial violations, which resulted in the club saving €90 million in player salaries during the COVID-19 pandemic. The investigations and the final conviction followed the resignation of the Juventus board back in November which raised quite a few eyebrows.
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