Juventus' 15-point reduction in Serie A has been reversed, their league position has changed dramatically

Juventus' 15-point reduction in Serie A has been temporarily reversed, meaning they have jumped up from seventh to third in the league standings.

Last year, the Serie A club's entire board, including Pavel Nedved, quit after an investigation into the club's finances was opened.

In December, UEFA announced that the CFCB First Chamber would open an investigation into the club for potential breaches surrounding club licensing and Financial Fair Play regulations.

And a month later, the Italian side were handed a 15-point deduction to their Serie A points total for 'financial irregularities' and 'false accounting' in relation to past transfer dealings.

The ruling also came with lengthy bans for multiple former board members, including Andrea Agnelli, Federico Cherubini and Fabio Paratici, who is currently the sporting director at Tottenham.

Paratici has been banned for a total of 30 months, while former chairman Andrea Agnelli was banned from holding office in Italian football for 24 months for his involvement.

In total, the Italian Football Federation investigated a total of 62 transfers and 42 of them involved Juventus.

Juventus were said to be optimistic about their chances of overturning the 15-point deduction thanks to a 'procedural defect' and on Thursday afternoon, the decision was announced.

As a result of the points being reversed pending a new trial to further clarify their capital gains controversy, Juve have knocked both AC Milan and Inter Milan out of the Champions League places.

There is, however, a 30-day period for the prosecutor to appeal the decision and still get the 15 points deducted.

According to journalist Giovanni Albanese, Fabio Paratici's appeal against his two-and-a-half year ban, extended globally by FIFA, has been rejected.

The same applies for bans against other former board members Andrea Agnelli and Federico Cherubini, but the appeal for Pavel Nedved's ban has reportedly been accepted.