The UEFA Club Financial Control Body (CFCB) opened a formal investigation into Juventus in December, months after the Italian side was among eight clubs that reached a settlement with UEFA for failing to comply with break-even requirements.
In a statement on Friday, European soccer's governing body said it would "impose an additional financial contribution of 20 million euros on the club.
However, we have decided not to appeal this judgment," Juventus Chairman Gianluca Ferrero said.
"Following the club's sale in May 2022, the new ownership identified, and proactively reported to UEFA, instances of potentially incomplete financial reporting under the club’s previous ownership," UEFA said.
Chelsea, who finished 12th in the Premier League following a chaotic campaign, will not be competing in Europe in 2023-24.
Persons:
Gianluca Ferrero, Ferrero, Chelsea, Tommy Lund, Aadi Nair, Pritha Sarkar
Organizations:
Juventus, Premier League, Chelsea, UEFA Club, UEFA, Conference League, Serie, UEFA Champions, CHELSEA, London, Thomson
Locations:
Europe, Chelsea