Juventus under investigation by UEFA over financial fair play

Serie A club Juventus said on Thursday it was under investigation by the European governing body UEFA for possible breaches of its financial rules.

The Turin-based club made the announcement in its financial statements to be presented at its annual shareholders' meeting on November 7.

Juventus said that UEFA had informed the club on September 18 that proceedings had been opened to investigate possible breaches of the governing body's football earnings rule between 2022 and 2025, with a verdict expected in the spring of next year.

The club said this could result in "a possible economic sanction ... and possible sporting restrictions."

UEFA's football earnings rule limits clubs to 60 million euros ($70.14 million) in losses over a three-year period.

This can be raised by 10 million euros per year if clubs meet four conditions that UEFA considers representative of "good financial health."

Juventus, fifth in the Serie A standings with 12 points from six matches, made a modest start to the season with three wins and three draws.

Controlled by the Agnelli family for a century, Juventus posted a 58-million-euro loss in the fiscal year ended June 30.

The club posted its last annual net profit in the 2016/2017 season.