The departure of Juventus President and Chair Andrea Agnelli from the club is being seen as a "serious blow to attempts to revive the European Super League." Agnelli and the entire Juventus board of directors resigned after an investigation by Turin prosecutors into alleged false accounting. The timing of Agnelli’s resignation will dismay his allies at Real Madrid and Barcelona, who had joined Juventus in a legal challenge against UEFA to try to force through a breakaway competition with a European Court of Justice (ECJ) judgement due on December 15. In his departing message to Juventus’s employees, Agnelli said the resignations were necessary because “unity has been lost” (LONDON TIMES, 11/29).
However, it didn’t take an awful lot of time for the owners to appoint a new chairman of the board, suggesting that the change was "already pre-designed." Exor (the holding company that owns the majority of the club’s shares) has announced the appointment of accountant Gianluca Ferrero as the new Juventus president, while the rest of the vacant posts on the board will soon be filled (GAZZETTA DELLO SPORT, 11/29).
Meanwhile, Juventus shares fell 6 per cent in early trading on Tuesday in Milan before recovering some losses. The stock is down by more than 40 per cent in the past year. U.K. fund manager Lindsell Train is the biggest shareholder apart from majority-owner Exor (FINANCIAL TIMES, 11/29).