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    JUVE   IT0000336518

JUVENTUS FOOTBALL CLUB S.P.A.

(JUVE)
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Juventus Football Club S p A : Soccer-Super League rebels face sanctions after defectors sign deal with UEFA

05/07/2021 | 01:37pm EDT

MANCHESTER, England (Reuters) - The three teams that remain involved in the breakaway Super League operation, Real Madrid, Barcelona and Juventus, face sanctions from UEFA, who have reached an agreement with the nine other clubs.

European soccer's governing body said on Friday the nine clubs who backed out of the plan had signed a 'Club Commitment Declaration' including a series of "reintegration" steps.

The six English clubs -- Manchester United, Liverpool, Manchester City, Chelsea, Tottenham Hotspur and Arsenal along with AC Milan, Inter Milan and Atletico Madrid, all signed the agreement, UEFA said in a statement https://www.uefa.com/insideuefa/mediaservices/mediareleases/news/0269-123871bd86ca-d9571aa78f72-1000--uefa-approves-reintegration-measures-for-nine-clubs-involved-in.

"These clubs recognised their mistakes quickly and have taken action to demonstrate their contrition and future commitment to European football," said UEFA president Aleksander Ceferin.

"The same cannot be said for the clubs that remain involved in the so-called 'Super League' and UEFA will deal with those clubs subsequently," he added.

UEFA said it was now starting disciplinary proceedings against Juventus, Real and Barca.

"UEFA has reserved all rights to take whatever action it deems appropriate against those clubs that have so far refused to renounce the so-called 'Super League'. The matter will promptly be referred to the competent UEFA disciplinary bodies."

ALL STEPS

The nine clubs back in the UEFA fold have agreed to "take all steps within their power" to end their involvement in the Super League company.

"As a gesture of goodwill, and together with the other clubs, will make a donation totalling an aggregate of 15 million euros ($18.23 million), to be used for the benefit of children, youth and grassroots football in local communities across Europe, including the UK," said UEFA.

The clubs also agreed to a five percent withholding of any revenues they would receive from Champions League or Europa League involvement for one season.

The deal involved the clubs accepting they would face a 100 million euro fine if they seek to play in an unauthorised competition or a 50 million euro fine if they breach any other commitment they have entered into in the Club Commitment Declaration.

A breakaway Super League set up by the 12 was announced last month but fell apart after just 48 hours.

The Super League argued it would increase revenue for the top soccer clubs in Europe and allow them to distribute more money to the rest of the game.

However, UEFA, other teams and fan organisations said the league would only boost the power and wealth of elite clubs, and that the partially closed structure went against European football's long-standing model.

($1 = 0.8227 euros)

(Reporting by Simon Evans; Editing by Ken Ferris)

By Simon Evans


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
JUVENTUS FOOTBALL CLUB S.P.A. -0.41% 0.7375 Delayed Quote.-9.10%
MANCHESTER UNITED PLC 0.19% 15.97 Delayed Quote.-4.78%
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Financials
Sales 2021 454 M 540 M 540 M
Net income 2021 -198 M -235 M -235 M
Net Debt 2021 431 M 512 M 512 M
P/E ratio 2021 -4,92x
Yield 2021 -
Capitalization 981 M 1 166 M 1 166 M
EV / Sales 2021 3,11x
EV / Sales 2022 2,54x
Nbr of Employees 915
Free-Float 36,2%
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Last Close Price 0,74 €
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Andrea Agnelli Chairman
Claudio Leonardi Head-Information Technology & Logistics
Alberto Mignone Head-Administration
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