In response to the ruling, Juve stated: Juventus Football Club S.p.A. (Juventus" or the Company") announces that, with reference to the arbitration proceeding brought by the former registered player Cristiano Ronaldo dos Santos Aveiro (Former Registered Player") against the Company, today the arbitration board has transmitted to the parties its decision on the dispute," said the Serie A giants.
The arbitration board, with the decision made by the majority, ascertained the validity of the Former Registered Player's compensation reduction agreement in relation to the 2020-21 sporting season and recognised the absence of any supplementing agreement entered into between the parties, hence concluding that the so-called Ronaldo paper" (carta Ronaldo") lacks any binding effect; thus, the arbitration board rejected the Former Registered Player's requests concerning the invalidity of the compensation reduction agreement and the fulfilment of the supplementing agreement; they also rejected the request concerning the annulment of the compensation reduction agreement, recognising the absence of fraud by the Company, whose conduct did not affect the Former Registered Player's willingness to enter into such compensation reduction agreement; they partially granted the request made by the Former Registered Player in the extreme alternative, ascertaining Juventus' pre-contractual liability resulting from the failure of negotiations and ordering the defendant to pay an amount of approximately Euro 9.8 million (equal to half of the amount requested by the Former Registered Player of approximately Euro 19.6 million).
The Company, also with the support of its legal counsel, is reviewing the decision made by the arbitration board, reserving all assessments and initiatives to preserve its rights."