Juventus Shares Price

Italy's football prosecutor has ordered four top clubs, Juventus, AC Milan, Lazio and Fiorentina, to stand trial in a match-fixing scandal which could see them relegated from Serie A if found guilty.

Since the scandal broke in early May, Juventus shares have lost half their value.

The Italian media have speculated that league champions Juventus could be demoted to all the way down to Serie C1 and be stripped of their previous two Serie A titles.

Milan, owned by former Italian Prime Minister Silvio Berlusconi, also risk sanctions after phone taps showed an official discussing referee appointments with FIGC staff.

In a reminder of how the affair bridges Italy's favourite sport and finance, FIGC was asked not to release the news during market trading hours to prevent disorderly trading in Juventus shares and Lazio shares.

Juve shares closed up 5.9 percent on the day at 1.329 euros while Lazio shares, which only price once a day, added 4.32 percent to 29 cents, according to data on the Bourse website.

Any team convicted of "sporting fraud" risk sanctions ranging from having points deducted next season to relegation to a lower division and loss of titles.

The charge of "violating fairness and probity" can lead to warnings or fines as well as points deducted, relegation and loss of titles.

Individuals found guilty risk being banned from the sport.

Any club or individual who is convicted can ask for an appeals trial which FIGC has promised will end by July 27, in time for FIGC to tell UEFA which teams will compete in next season's Champions League and UEFA Cup competitions.

In a previous major scandal to hit Italian football, AC Milan and Lazio were relegated for match-fixing in 1980 and several players were banned.

It is considered unlikely that the Italian Serie A league will begin on time and may be put back as far as October.

Date: 23.06.06

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