MILAN (Reuters) -- Juventus and the four other clubs implicated in Italy's match-fixing scandal have their last chance at getting their punishments reduced when the final verdicts are made by an arbitration tribunal this week.

The tribunal, hosted by the Italian Olympic Committee (CONI) meets today with the decision expected by Thursday at the latest.

Juventus, who were stripped of their last two Serie A titles and were demoted to Serie B with a 17-point deduction, had initially said they would appeal to a civil court.

They later dropped that option, saying they would instead bring the case to the CONI arbitration court -- Italian media have speculated that they may be rewarded for that decision with reduced penalty points.

"We are waiting and we expect them to see our point of view," Riccardo Montanaro, one of Juve's lawyers, told the news agency ANSA.

Juventus were the only team of the five involved in the affair to be relegated from the top flight.

AC Milan began the Serie A season with an eight-point penalty, Fiorentina began on minus 19 points with Lazio on minus 11.

Reggina, the fifth top flight team embroiled in the scandal, were docked 15 points.

Juventus, whose former general manager Luciano Moggi was at the center of the scandal, have complained they have been punished much more severely than other clubs.

With four wins from five games Juventus currently stand on -4 points at the bottom of the Serie B table -- they are 16 points behind leaders Genoa.

Antonio Matarrese, president of the Italian Football League said he expected troubled days ahead regardless of the outcome of the arbitration.

"However it goes there is going to be a row and I expect turbulence," he said.