With the World Cup in full swing, club football had been put on the backburner. That was until Monday night in Turin.
Just as Portugal were rounding off their 2-0 win against Uruguay, Juventus released a statement confirming their entire board had resigned, including president Andrea Agnelli and vice-president Pavel Nedved.
Italy’s most successful club have been the dominant force in Serie A since Agnelli took over in 2010, winning nine straight league titles between 2011 and 2020 and then winning the 2019-20 campaign, but things have started to go wrong on the pitch in the last couple of years.
Juventus’ entire board including Andrea Agnelli (second left) and Pavel Nedved (right) have resigned from their positions
Things have not been going perfectly behind the scenes either, and now the board of directors have taken the drastic decision to step down from their roles.
The big question is why? And what happens next for this historic club?
Sportsmail looks to answer all your pressing questions following the stunning news coming out of Juventus.
Why has the entire board resigned?
The board unanimously decided that it was in the best interests of the club to resign and allow a new group of executives to take the club forward.
This decision was made following a proposal by Agnelli, and amid the club facing charges relating to false accounting and market manipulation.
The Prisma Investigation was opened by the Turin Public Prosecutor’s Office, with the club alleged to have misrepresented financial losses in the period of 2018 and 2020. Prosecutors are investigating the amount ascribed to player sales during this period.
According to sources close to the matter, there are 15 suspects in the investigation, including Agnelli.
Managing director Maurizio Arrivabene will stay on for now during the transition period
The club have denied any wrongdoing, but the investigation has now been concluded, indicating that the findings could soon be announced.
The 2021-22 season also saw Juventus report record-breaking losses, with a £220million (€254.3million) loss registered.
These numbers indicate things have not gone well behind the scenes for quite some time, and a change of direction is now needed.
Managing director Maurizio Arrivabene has also resigned, but will stay on in the short-term to take on administrative duties during the transition period.
What punishment could Juventus be given?
If Juventus are found to have broken the rules, they could be hit with significant sanctions.
La Gazzetta dello Sport have reported that there is the possibility of a points deduction or even relegation, should it be determined that they tricked authorities over salary payments to players.
This would bring back memories of the Calciopoli scandal in 2006. On that occasion, an investigation uncovered that certain Italian clubs had relations with the referee organisations in the 2004-05 and 2005-06 seasons, and were accused of selecting favourable referees for some of their matches.
Juventus general manager Luciano Moggi was involved in the Calciopoli scandal in 2006
Juventus were subsequently relegated to Serie B, while they were stripped of the 2004-05 title and downgraded to last place in 2005-06.
AC Milan, Fiorentina, Lazio and Reggina were also punished for their involvement in the scandal, but Juventus were the only side relegated from Serie A.
Why has Agnelli walked away now?
The Agnelli family have been associated with Juventus for almost 100 years. Andrea is the fourth member of his family, after his father, uncle and grandfather, to hold the position of president. It’s pretty clear that he will not have taken this decision lightly.
But it seems he felt he was left with little choice due to differences within the club, and the fact that the club’s budget was worrying the majority shareholders.
Agnelli has also taken an aggressive stance when it comes to introducing a European Super League, but that failed to materialise last year, and is still yet to get off the ground.
In his resignation letter sent to all Juventus employees he called for unity, but noted failings by the club.
Agnelli was one the driving forces behind the Super League, but has now stepped down
‘We are facing a delicate moment in society and the compactness has failed. Better to leave everyone together, giving the possibility to a new team to overturn the game,’ he wrote.
‘When the team is not compact it lends itself to the opponents and this can be fatal. At that moment we need to have clarity and contain the damage.
‘I will continue to imagine and work for a better football, comforted by a phrase by Friedrich Nietzsche: “And those who saw themselves dancing were considered crazy by those who did not hear the music”.
‘Remember everyone, we will recognise each other everywhere with a look: we are the people of Juve!’
Who will replace Agnelli?
Juventus have already moved to find Agnelli’s successor, and the club’s holding company Exor announced on Tuesday morning that they plan to put forward the name of Gianluca Ferrero to take up the role.
Exor’s statement read: ‘With reference to the decisions taken yesterday by the Board of Directors of Juventus FC and in advance of its Shareholders Meeting called for 18 January 2023, Exor communicates that it will indicate Gianluca Ferrero for the role of Chairman of Juventus.
‘As a corporate adviser, auditor, Board and committee member of a number of companies, Mr. Ferrero has significant experience and the required technical competencies, as well as a genuine passion for the Bianconero club, making him the person most qualified to fulfil this role
‘Exor will publish the full list of its candidates for the renewed Board of Directors within the timeframe required by law.’
Who is Gianluca Ferrero?
Fortunately, Exor also provided some information on Ferrero in their statement so that fans have the opportunity to get to know Agnelli’s potential replacement a little better.
Attached to the statement, Ferrero’s profile read: ‘Born in Turin in 1963, he graduated in Economics in 1988.
‘He has been a member of the Ordine dei Dottori Commercialisti e degli Esperti Contabili of Turin since 1989 and a member of the Registro dei Revisori Legali since 1995.
Gianluca Ferrero is the clear frontrunner to replace Agnelli as Juventus president
‘He is also a Consultant of the Judge at the same Court. He is Chairman of the Board of Statutory Auditors of Fincantieri S.p.A., Luigi Lavazza S.p.A, Biotronik, Italia S.p.A., Praxi Intellectual Property S.p.A., P. Fiduciaria S.r.l., Emilio Lavazza S.a.p.a., Gedi Gruppo, Editoriale S.p.A.. Nuo S.p.A. and Lifenet S.r.l.
‘He serves as Standing Auditor in Fenera Holding S.p.A..
‘He is Deputy Chairman of the Board of Directors of Banca del Piemonte and member of the Board of Directors of Italia Independent Group S.p.A. and Pygar S.r.l.’
Are there any other potential candidates?
Ferrero is in pole position to take over from Agnelli, but the shareholders meeting to discuss his appointment is still the best part of two months away.
Therefore, it cannot be completely ruled out that other names could come into the mix.
One name that has been mentioned is Evelina Christillin. Born on November 27, 1955, the doctor who loves skiing and Juventus, has been linked with the club for many years and she would be a sensible appointment for many reasons.
Christillin’s charisma could make her the perfect candidate to become the first female president in Juventus’ history.
In 1998, she was chosen as executive president of the ‘Torino 2006 Promoting Committee’, which was responsible for sponsoring the candidacy of the Piedmontese capital as host city of the 2006 Olympic Winter Games, and she is an expert in sports organisations and marketing.
Christillin loves elegance and style, and would look to make changes having not liked the direction taken by Agnelli.
Then there is club legend Alessandro Del Piero. The iconic No 10 is adored by the fans, and looks set to return to Juventus, but his potential role remains unclear.
Club legend Alessandro Del Piero (left) could return to Turin to replace Agnelli
Perhaps taking over from Nedved as vice-president is more likely, but going straight for the presidency is not out of the question.
Speaking to BeIN by telephone on Monday night, Del Piero seemed interested in helping out his former club, stating: ‘Going back to Italy to help Juventus? I don’t know what the plan is but I know the company very well. I still have a house in Turin…’
Finally, Alessandro Nasi could have a chance. The 46-year-old is the number two at Exor, the Dutch financial holding company of the Agnelli family, which is managed by his cousin John Elkann.
Exor represents the second largest Italian economic group by turnover and is number 24 in the world: it would be the perfect link between the historic family that has led the club and Juventus for 100 years.
Nasi is romantically linked to Gianluigi Buffon’s ex-wife, the showgirl Alena Seredova, knows the Juventus environment well and would be the preferred option from a corporate point of view if the club want a technical man at the top of the pyramid.
However, he starts in a disadvantageous position because his appeal to the fans is very low.
Will Allegri keep his job?
When changes occur at the top of a club, this can lead to the manager being moved on. The new president may want to stamp their authority early on.
In truth, since his return to Juventus last year, Massimiliano Allegri has significantly underperformed in the dugout.
Juventus only finished fourth in Serie A last term, failing to win a trophy for the first time in over a decade.
They have not started any better this time around either. The team are currently third in Serie A, but sit 10 points behind leaders Napoli.
Massimiliano Allegri may be fearful for his job when a new president is appointed
Meanwhile, they endured a miserable Champions League campaign, losing five of their six matches to drop into the Europa League.
Agnelli stood by Allegri, knowing that getting rid of him would cost the club a fortune.
Juventus’ next president could see things differently, though, and decide that a clean break is needed, which could lead to a fresh face arriving on the touchline in 2023.
Could there be a mass exodus of players at Juventus?
Juventus’ latest financial records highlight the issues the club are currently having, and it would not be a major surprise to see them look to move players on in 2023.
American midfielder Weston McKennie arrived for £15.6m (€18m) when Fabio Paratici was still at the club, but the Italian sporting director has now moved to Tottenham and wants McKennie to join him in north London.
McKennie is now valued at around £26-30m (€30-35m) and is not considered irreplaceable. He occupies a non-EU slot: his departure would free up a place and allow Juventus to bring in a substantial transfer fee.
McKennie has played in 11 out of Juventus’ 15 league games this term, but that has mainly due to the injuries of Leandro Paredes, Paul Pogba, Manuel Locatelli and Adrien Rabiot.
Juventus could look to sell midfielder Weston McKennie in the January transfer window
With the promotion of youngsters Nicolo Fagioli and Fabio Miretti, his playing time is likely to reduce and he could be sold already in the January transfer window.
McKennie may not be the only midfielder who is let go. Paredes has been a flop since arriving in the summer, with his fitness causing him issues, and he is set to return to PSG at the end of the season when his loan spell expires.
Meanwhile, Rabiot has been a great enigma at Juventus. In his early years at the club, he was one of the worst performers but he is now shining for Juventus and at the World Cup with France.
Adrien Rabiot has improved, but his wage demands could prove too much for Juventus
He now wants £8.6m-a-year (€10m) to stay in Italy, but this could be too much for Juventus, and could lead to him exiting the club on a free transfer next June.
Full-backs Juan Cuadrado and Alex Sandro also face uncertain futures. Cuadrado currently earns £4.3m-a-year (€5m), while Sandro is on £5.2m-a-year (€6m). Juventus are set to ask them to both take 40 per cent pay-cuts to stay on beyond next summer.
The pair are into their thirties, and are deemed past their best, so could be moved on if they refuse to lower their wages.
