Juventus lays bare soccer’s rotten finances

By Chris Bryant

29 Nov 2022 · 3 min read

Editor's Note

There's optimism that new financial fair-play rules will make the European soccer industry more sustainable. But don't bet on it, cautions Bloomberg columnist Chris Bryant.

Football may be the beautiful game, but success on the pitch requires an ugly financial battle to sign top players and pay their vastly inflated wages. Monday's resignation of Juventus Football Club's entire board of directors, including chairman Andrea Agnelli, amid multiple investigations into the club's financial reporting is a searing moment for the club and the wider soccer universe.

Though the sport is governed by so-called financial fair play guidelines, teams continually look for creative ways to secure an advantage. After all, relegation to a lower league or failure to qualify for or win major competitions can be economically disastrous.

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