Italy's most storied soccer club, Juventus, have been hit with a massive 15-point penalty for false accounting following an appeal hearing at the Italian soccer federation.
The punishment could eliminate the club's chances of playing in Europe next season.
Juventus were third in Serie A and the penalty drops the Bianconeri into the bottom half of the standings, 25 points behind leaders Napoli and 12 points from the Champions League places.
Also, former Juventus president Andrea Agnelli and former club CEO Maurizio Arrivabene were each banned for two years from soccer activities.
More bans were handed out for nine other members of Juve's staff or former board, who resigned en masse in November following an investigation by Turin public prosecutors into alleged false accounting.
The longest ban of two and a half years was handed out to former Juventus sporting director and current Tottenham managing director Fabio Paratici, while former Juventus player turned board member Pavel Nedved was given eight months.
The bans prohibit those individuals from engaging in soccer activities in Italy, "with the request that the ban be extended to UEFA and FIFA activities."
Juventus have denied wrongdoing and were initially cleared by the sports court in April. But an appeal was made after the federation collected papers from the Turin prosecutors.
Juventus can appeal the decision to Italy's highest sports court within the Italian Olympic Committee.
Federation prosecutor Giuseppe Chine had requested a nine-point penalty for Juventus earlier Friday.
Gianluca Ferrero was appointed Juventus' new president on Wednesday, presiding over a smaller five-person board of directors.
Also Wednesday, Agnelli announced he was stepping down from all of his positions within the family businesses, including carmaker Stellantis, which controls FIAT, as well as the Exor holding company.
Agnelli was also one of the architects of the failed European Super League project.
The penalty comes 17 years after the "Calciopoli" refereeing scandal that saw Juventus, a record 36-time Italian champion, demoted to Serie B and stripped of two Serie A titles.
Fines were requested for eight other clubs: Sampdoria, Pro Vercelli, Genoa, Parma, Pisa, Empoli, Pescara and Novara. But all eight other clubs were cleared.
Juventus were already eliminated from the Champions League in a horrible start to this season, which also saw them win only two of their opening nine Serie A matches. But the club had bounced back to climb into the top four.
Juventus could face further penalties from UEFA, which also opened an inquiry into the club's finances after the Turin prosecutor's office requested indictments for Agnelli and 10 other former board members as well as the club itself.
At the start of the pandemic, Juventus said 23 players had agreed to reduce their salary for four months to help the club through the crisis. But prosecutors claim the players gave up only one month's salary.
Turin prosecutors have also apparently discovered more alleged secret payments to former player Cristiano Ronaldo that were not reported by Juventus.
In September, Juventus reported a record loss of 254.3 million euros ($A397 million) for the 2021-22 financial year.
It was the fifth consecutive year that Juventus reported a loss and it was 44.4 million euros ($A69 million) more than in 2020-21.
A preliminary hearing for the investigation by Turin prosecutors is scheduled for March.