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Despite relegation, Juventus' shares rise
Italy - 18 July, 2006
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Shares in Juventus rose 1.4 percent to €1.48 in early trade today after the Italian club were relegated to Serie B late Friday as a punishment for match-fixing.
Ex-champions Fiorentina and Lazio also were demoted to Serie B when a sports tribunal found the clubs guilty of offences in a match-fixing trial. The tribunal also ruled that, though AC Milan will remain in Serie A, the club would have points from last season reduced by 44 - ruling them out of next season's UEFA Champions League.
Juventus were stripped of their 2005 and 2006 title wins. All four clubs will start next season with points penalties with Juventus forced to begin their Serie B campaign with minus 30 points, almost guaranteeing they will spend at least two seasons in the Serie B.
Milan will start their Serie A campaign next season with minus 15 points. In Serie B, Fiorentina begin on minus 12 and Lazio on minus seven.
The clubs will use the opportunity to appeal the decision. Juventus said in a statement that they would be appealing what they termed an "unbelievable" decision, while Milan said the verdict was "an extraordinary injustice." Fiorentina said their relegation was "profoundly unjust" and promised to "fight with all means and in every forum." Lazio president Claudio Lotito said he was willing to take the matter as far as the European Court of Justice.
Together the four clubs punished accounted for most of the players in the Italian national team that beat France to win the FIFA World Cup. Many of the top players from Juventus may seek new clubs either in Italy or elsewhere in Europe.
Coach Fabio Capello, who guided Juventus to the two titles they have been stripped of, quit as coach last week and joined Spanish Primera Liga club Real Madrid.
As well as the clubs, the tribunal barred former Juventus general manager Luciano Moggi, who was at the centre of the scandal, for five years and ex-Federation president Franco Carraro for four and a half years. Referee Massimo De Santis, who missed out on the World Cup due to the scandal, was handed a four and a half year ban while another Serie A ref, Paolo Dondarini, was handed one of three and a half years.
The prosecutor who brought charges had sought relegation to the third division Serie C for Juventus. No decision has been made on which teams will fill the gaps in Serie A although relegated teams Lecce, Messina and Treviso will expect to be returned to the top flight.
Ex-champions Fiorentina and Lazio also were demoted to Serie B when a sports tribunal found the clubs guilty of offences in a match-fixing trial. The tribunal also ruled that, though AC Milan will remain in Serie A, the club would have points from last season reduced by 44 - ruling them out of next season's UEFA Champions League.
Juventus were stripped of their 2005 and 2006 title wins. All four clubs will start next season with points penalties with Juventus forced to begin their Serie B campaign with minus 30 points, almost guaranteeing they will spend at least two seasons in the Serie B.
Milan will start their Serie A campaign next season with minus 15 points. In Serie B, Fiorentina begin on minus 12 and Lazio on minus seven.
The clubs will use the opportunity to appeal the decision. Juventus said in a statement that they would be appealing what they termed an "unbelievable" decision, while Milan said the verdict was "an extraordinary injustice." Fiorentina said their relegation was "profoundly unjust" and promised to "fight with all means and in every forum." Lazio president Claudio Lotito said he was willing to take the matter as far as the European Court of Justice.
Together the four clubs punished accounted for most of the players in the Italian national team that beat France to win the FIFA World Cup. Many of the top players from Juventus may seek new clubs either in Italy or elsewhere in Europe.
Coach Fabio Capello, who guided Juventus to the two titles they have been stripped of, quit as coach last week and joined Spanish Primera Liga club Real Madrid.
As well as the clubs, the tribunal barred former Juventus general manager Luciano Moggi, who was at the centre of the scandal, for five years and ex-Federation president Franco Carraro for four and a half years. Referee Massimo De Santis, who missed out on the World Cup due to the scandal, was handed a four and a half year ban while another Serie A ref, Paolo Dondarini, was handed one of three and a half years.
The prosecutor who brought charges had sought relegation to the third division Serie C for Juventus. No decision has been made on which teams will fill the gaps in Serie A although relegated teams Lecce, Messina and Treviso will expect to be returned to the top flight.
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