Gianluca Ferrero is being proposed as the new chairman of Italian Serie A giants Juventus, after the entire board at the Italian Serie A club resigned over a probe into allegations of false accounting.

Read also: Entire Juventus board resigns

“Exor communicates that it will indicate Gianluca Ferrero for the role of chairman of Juventus,” after former chairman Andrea Agnelli and the rest of the board stepped down en masse Monday, the company said in a statement.

Agnelli resigned with all the club’s board members after an emergency meeting on Monday evening following an investigation for alleged tax fraud from the Turin Prosecutor and the requests from CONSOB, the Italian body in charge of supervising activities in the stock exchange market, to clarify the club’s balance sheet at June 2021.

Juventus registered a record loss of €254.3m for 2021-22.

Exor, the holding company that formally owns Juventus, indicated Ferrero as the candidate to replace Agnelli at the helm of the club.

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