The entire board of directors at Serie A giants Juventus, including club president Andrea Agnelli, has resigned with immediate effect amid an ongoing investigation by prosecutors and financial regulators into allegations of false accounting and market manipulation.
The club and its owners have denied any wrongdoing.
Agnelli and the club’s vice president Pavel Nedved, the Czech footballer who represented Juventus between 2001 and 2009, are among those currently under investigation after Juventus posted a loss of more than $263 million (£220 million) for last season, the highest such financial loss in the club’s history.
“The Board of Directors, considering the focus and relevance of the pending legal and technical-accounting issues, have deemed it in the best interest to recommend that Juventus adopt a new Board of Directors to deal with these issues,” the club announced in a statement.
News of the cull in the Juve boardroom led to a 5% drop in the club’s market price when…
