Postponement of a part of the salaries and capital features: Juve-Consob within the judicial motion | First web page
It is going to be a authorized battle between Juventus and Consob: Andrea Agnelli’s membershipin response to Consob on some vital points contested by the Italian monetary market management physique within the final two annual accounts, publicizes to not share “the opinion formulated by Consob and consider the actions to guard their rights with the competent judicial authorities “. From Consob’s perspective, the settlement on the postponement of a part of the gamers’ salaries through the confinement referred to the years 2019-20 and 2020-21, the capital features from operations carried out earlier than June 30, 2020 and the cross 15 the operations had ended categorized as “simultaneous buy and sale operations of rights to the sports activities performances of the gamers held with the identical counterparty” within the years 2019-20 and 2020-21.
THE DISPUTE – On the finish of the process, Consob had requested Juventus for extra info to tell the markets in regards to the deficiencies and criticisms detected in relation to the accounting correction of the annual accounts as of June 30, 2021; on violations discovered within the relevant worldwide accounting requirements; on the illustration of the results that will have been produced by accounting in accordance with the rules on the steadiness sheet, the revenue and loss account and the online fairness of the monetary yr for which incorrect info has been offered. Specifically, with regard to cross operations, Consob accused Juventus of getting accounted for separate and distinct transactions that will have been thought-about unitary.
I AM – Relating to the wage maneuvers, because of the three-month postponement in 2019/20, in accordance with Consob, “The membership ought to have recorded increased prices and a legal responsibility, or at the very least a provision and a provision for dangers, in relation to the workers registered within the annual accounts at 30 June 2020 “whereas” the situations for the registration of a provision referring to the workers registered within the annual accounts at 30 June 2021 for the accountability inherent within the particular person agreements signed in September 2021 referring to the variable remuneration could be fulfilled to be acknowledged by some gamers”.
THE PRECISION – Juventus has specified that “any impact of the conclusions raised by Consob could be null and void on money flows and web monetary indebtedness, each in earlier monetary years and within the one simply ended, whereas in financial and patrimonial stage would stay zero within the accrued stage through the five-year interval 2019-2024 for transversal operations and the four-year interval 2019-2023 for wage maneuvers”.
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