Juventus risk getting fined up to €‎60m for Cristiano Ronaldo financial irregularities

Juventus could receive a fine between €‎20 million and €‎60 million for the financial irregularities after it was revealed recently that the Italian side had not recorded the alleged payment to Cristiano Ronaldo in their financial budget.

According to La Repubblica, there was a private agreement between the Portuguese international and the Bianconeri management that would have allowed them to pay Ronaldo an amount of €‎19.9 million despite the end of the relationship between the club and the player.

Following the investigation of the Turin Public Prosecutor’s Office that looked into the alleged alteration of Juventus’ financial statements in the year 2018, 2019 and 2020, it came to light that the “Ronaldo card” played an integral role.

When the financial emergency hit Juventus during the first period of the pandemic, the club reportedly reached a private agreement with Ronaldo, subsequently making him take a pay cut. A new report suggests that this kind of agreement could lead to serious penalties.

Juve agreed to return the amount at a later date without mentioning that in their records. Instead, they transformed that into “loyalty bonuses”, with the amount understood to be paid to Ronaldo at the end of the pandemic. But now that the nature of the same turning from “bonus” to “debt”, Juventus risk getting fined up to €‎60 million.

GIFN | Jyotirmoy Halder

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