The entire board of Italian champions Juventus resigned has after days of press revelations over embarrassing telephone interceptions involving its top management.

The Italian Football Federation is investigating the content of tapped telephone conversations involving Juve general manager Luciano Moggi talking of refereeing appointments for games with a Football Federation official responsible for selecting  match officials.

"The board has tendered its resignation," Juventus said, without offering any explanation. The statement said that a general assembly of the club's shareholders would be held on June 29th.

Juve's share price fell by almost 10 per cent after the news.

The case has rapidly snowballed, with public prosecutors in Turin, Rome and Naples now reportedly investigating alleged widespread malpractice involving referees and several Serie A clubs.

The president and vice-president of the Football Federation, Franco Carraro and Innocenzo Mazzini, have both resigned their positions in the wake of the publication of the taps.

Moggi is at the centre of the probes which are looking into the operation of the GEA management company headed by his son Alessandro, which controls the affairs of almost 200 players and coaches in Italy.

Yesterday, judicial sources in Turin said that Juve CEO Antonio Giraudo was under investigation for false accounting relating to player transfer deals.

Giraudo and Moggi are both members of the Juventus board but it was not immediately clear how the resignation of the board would effect their full time positions with the club who they are under contract to.

Juventus is owned by Ifil, the holding company of the FIAT group.