In a stunning blow to Juventus, UEFA has announced their decision to boot the Italian giants out of the 2023-24 Europa Conference League.
The severe action comes as a consequence of Juventus violating UEFA's Financial Fair Play regulations, sending shockwaves through the football world.
The Serie A powerhouse had originally qualified for the Europa Conference League after finishing seventh in Serie A the previous season, despite facing a 10-point deduction due to their involvement in the 'Plusvalenza' scandal.
The scandal involved the club overstating the value of certain player transfers to manipulate financial records and balance the books.
Initially, the Italian Football Federation (FIGC) imposed a 15-point deduction on Juventus, but this penalty was later overturned on appeal.
However, a new sentence was handed down, resulting in a 10-point deduction that was enough to push Juventus out of the Champions League qualification spots and into the Europa Conference League.
Besides the ban, UEFA has fined Juventus a substantial amount of €20 million (£17m/$22m) as part of their punishment.
The severity of the financial penalty adds to the gravity of the situation, potentially impacting the club's ability to meet its financial obligations and maintain its competitiveness.
In response to UEFA's decision, Juventus President Gianluca Ferrero expressed regret while maintaining the club's position.
He stated, "We regret the decision of UEFA. We do not share the interpretation that has been given of our defense, and we remain firmly convinced of the legitimacy of our actions and the validity of our arguments. However, we have decided not to appeal this judgment."
The ramifications of this expulsion from European competition are significant. Juventus will endure a season without any UEFA tournament, marking the first time since the 2011-12 campaign.
This void in revenue may force the club to make tough financial decisions, including the possible sale of key players like Federico Chiesa or Dusan Vlahovic.
Looking ahead, Juventus faces a challenging road to regain UEFA's trust and meet Financial Fair Play regulations.
The club will need to focus on reducing its debt and ensuring compliance over the next three years.
Losses are restricted not to exceed €60 million (£51m/$66m) during this period, demanding careful financial planning and sound business strategies.