STORY: The parent company of Italian soccer giant Juventus denied Monday (September 11) it plans to sell the club.Exor's announcement denied a report in local newspaper Il Giornale, which it called "groundless".The paper reported the holding company considered Juventus' recent financial results "no longer sustainable".It also said Exor had been embarrassed by the soccer club's ongoing legal problems.Juventus, its former chairman Andrea Agnelli and 11 others could face trial after judges in Italy last year launched a criminal case against them over allegations of false accounting.The club has denied wrongdoing and said its accounting is in line with industry standards.Il Giornale's article said Exor believes it could put Juventus up for sale for at least $1.6 billion, after taking measures to resolve its accounting issues.Exor is the holding company of the Agnelli family.Reuters reported in May that representatives of the Agnellis had become more open to ideas about the financial future of the club, citing sources.Exor said then its commitment to Juventus was unchanged and that any suggestion to the contrary was without foundation.Those sources added no imminent changes were expected.And they further said any possible decision would only come once there was clarity on the accounting and judicial issues hanging over the club.Exor owns around 64% of the shares and 78% of the voting rights in Juventus.The soccer giant has a market value of around $858 million.Shares rose sharply at just under 5% in early trade, but soon fell back.