Former Ferrari team boss Maurizio Arrivabene has been slapped with a two-year ban from Italian football following an investigation into the finances of Serie A giants Juventus, where he served as chief executive officer.
Juventus found themselves in the news when it was revealed that first-team squad members were paid off during the height of the COVID-19 pandemic. the Commissione Nazionale per le Societa e la Borsa (CONSOB), an Italian government agency responsible for regulating Italy’s security market, had discovered that several players who had signed agreements to cut their salaries to help the club through the pandemic had allegedly received that money through back channels .
In doing so, the club not only falsified its balance sheet, but also, like the players, did not pay the required taxes. with juventus As a public company, this meant the club committed financial fraud.
Alongside Arrivabene, Fabio Paratici and Federico Cherubini (former Juventus sporting directors), Andrea Agnelli (former Juventus chairman) and Pavel Nedved (former vice-chairman of Juventus) have also been suspended.
The sanction came as a result of a breach of capital gains by the club’s current and former directors, who were also suspended by the Serie A FIGC: Fabio Patrici 2½ years Andróa Agnelli 2 years Maurizio Arrivabene 2 years Paved Nedved 8 months Federico Cherubini 1 year 4 months https://t.co/rax0uqTmif
The 36-time Italian champion was also hit with a 15-point deduction.
A look back at Maurizio Arrivabene’s time at Ferrari
With the promotion to the management board Scuderia FerrariLongtime partner Philip Morris, Maurizio Arrivabene was appointed team principal of the Formula 1 team in November 2014, replacing Marco Mattiacci, who had only been in charge for six months.
When Arrivabene was appointed boss of the team, Ferrari President Sergio Marchionne spoke highly of his compatriot. He said:
“We need a person with a thorough understanding not only of Ferrari but also of the governance mechanisms and requirements of the sport.”
However, the 65-year-old’s appearance in red was uninspiring and failed to change the side’s fortunes.
In his three years with the Prancing Horse, Arrivabene failed to end the team’s title drought that dates back to 2008. Mercedes and Lewis Hamilton were too dominant for the Italian team, although Sebastian Vettel came close when he finished second to Hamilton in 2018.
Overall, he oversaw 81 races with the Scuderia, in which the team clinched 14 wins, 71 podiums and 12 pole positions. He was relieved of his duties at the end of the 2018 season and was soon replaced by Mattia Binotto.
Here are Ferrari’s numbers with Arrivabene at the top. How do you think Binotto will fare? https://t.co/w7im70TbXh
