Juventus Lays Bare Soccer's Rotten Finances – Bloomberg

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The resignation of the Italian club’s board is a searing moment for a financially unsustainable sport.
The beautiful game is financially ugly.
Photographer: GIUSEPPE CACACE Giuseppe Cacace/AFP via Getty Images
Chris Bryant
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Football may be the beautiful game, but success on the pitch requires an ugly financial battle to sign top players and pay their vastly inflated wages. Monday’s resignation of Juventus Football Club SpA’s entire board of directors, including chairman Andrea Agnelli, amid multiple investigations into the club’s financial reporting is a searing moment for the club and the wider soccer universe.
Though the sport is governed by so-called financial fair play guidelines, teams continually look for creative ways to secure an advantage. After all, relegation to a lower league or failure to qualify for or win major competitions can be economically disastrous.

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