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Cristiano Ronaldo's high-profile move to Juventus in 2018 marked the beginning of the Italian club's financial problems, according to Football Italia. The Portuguese icon copped a move to Turin from Real Madrid in the summer of 2018 for a sum of €117 million.
Juventus find themselves in a state of disarray with Andrea Agnelli and the board of directors reportedly resigning from their posts on Monday. This unfortunate turn of events has been triggered by the club's financial issues, which involve hidden wage payments to players.
Italy's financial police have reportedly found evidence that proves that the club made several transactions that are not reflected in their financial statements. Chief among such transactions is a multi-million deal they struck with Ronaldo during the initial stages of the COVID-19 pandemic.
According to a report by La Stampa (via Football Italia), the Turin Public Prosecutor summoned Ronaldo to clarify the situation but the 37-year-old paid no heed to it.
Cristiano Ronaldo's big-money move has severe ramifications for Juventus
Juventus broke the bank to sign Ronaldo from Real Madrid in July 2018. It was a move that certainly worked out on the pitch for the most part. Ronaldo scored 101 goals and provided 22 assists in 134 appearances for the Bianconeri before leaving the club to join Manchester United in the summer of 2021.
Off the pitch though, the move has left Juventus in dire straits. The €117 million deal to secure Ronaldo's services put the club's financial situation in a state of bother. As per the report, this led to them falsifying their capital gains in their financial reports in the following years.
The COVID-19 pandemic aggravated their financial troubles. Italy's financial police, the Guardia Di Finanza, happened upon a secret document signed by Ronaldo and the Bianconeri courtesy of wiretaps from the directors of the club.
As per Juventus' financial statements, they had suspended player salaries for four months during the first wave of the COVID-19 pandemic. However, the club have allegedly been making under-the-table payments to their players by virtue of certain secret deals.
As per one such deal, Juventus reportedly promised Ronaldo a payment of €19.9 million even if he exited the club. This payment was not registered in Juventus' financial statements.
Ronaldo did not appear before the Turin Public Prosecutor to give information about the deal despite being summoned. The Portuguese is currently without a club after leaving Manchester United by mutual agreement earlier this month.
