Ferrari Stalwart Slapped With a 2 Year Ban as Juventus Scandal Grabs Headlines

On November 28 last year, the entire Juventus board of directors, including CEO Maurizio Arrivabene, resigned from their duties. The development came amidst serious allegations of financial irregularities. While most of the members of the board’s resignations were accepted, Arrivabene was urged to continue with his duties until the transition to the new board. He and a few others have now been slapped with a ban for 2 years. Moreover, the Federal Court of the Italian Football Federation has deducted 15 points from the club.

Arrivabene took up the role of Ferrari team principal in November 2014. The Italian team boss’ 4-year stint was an unsuccessful one as the team did not win any championship, and that led to his sacking. In 2019, Mattia Binotto took the reins of the team before being replaced by Frederic Vasseur in 2023.

As for the latest in Arrivabene’s life, Mirror reports, “Juventus are believed to have 30 days to launch an appeal against the verdict. If that fails, then Arrivabene, along with [Fabio] Paratici, [Andrea] Agnelli, Pavel Nedved, and Federico Cherubini, will all have to serve their bans. As it stands they only apply to Italian football, but reports have claimed they could be extended to UEFA and FIFA competition also.”

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The Old Lady will slip down to 10th in the points table if the points deduction stays after the appeal. Moreover, the team’s dreams of playing in the Champions League next season will take a huge hit, seeing them 12 points away from the top-4 position.

The charges Maurizio Arrivabene & Co. is facing

Prosecutors and Italian market regulator Consob (Commissione Nazionale per le Societa e la Borsa) scrutinized the club’s financial statements. They alleged the company had indulged in false accounting and market manipulation. While the club denied any wrongdoing, the board followed Agnelli’s proposal to resign.

As per CNN’s report, “Upon the proposal of Agnelli, the board agreed that it was in the best interest of the club for a new board to take over at Juventus.”

“Juve posted losses of €254.3 million ($256.95 million) for 2021/22, the largest recorded loss in Serie A history.”

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While the ban will hurt the former Ferrari boss, it will be interesting to see how rapidly the executive acts against the alleged wrongdoings. Furthermore, it will also be interesting to see if Juve will file an appeal against the recent ban and points deduction. In most probabilities, this is not the end of the controversy for the former Italian champions. Things could well get ugly in the coming days.