Chelsea given HUGE fine by UEFA for historical FFP breach

Chelsea given HUGE fine by UEFA for historical FFP breach

Ifeanyi Ufomadu 20:00 - 28.07.2023

Premier League side Chelsea have been fined €10million by UEFA for Financial Fair Play(FFP) breaches dating back to the Roman Abramovic era.

Chelsea allegedly submitted incomplete financial information related to transactions that took place between 2012 and 2019 under the previous ownership of Russian billionaire Roman Abramovich.

Chelsea fined by UEFA

Chelsea football club

According to UEFA, Chelsea’s new ownership, led by co-owner Todd Boehly and Clearlake, called the governing body's attention to the historical cases of financial irregularities.

A statement on Friday evening read: "With respect to Chelsea FC (ENG), the CFCB First Chamber concluded that the club breached the UEFA Club Licensing and Financial Fair Play regulations as a result of submitting incomplete financial information.

"Following the club’s sale in May 2022, the new ownership identified, and proactively reported to UEFA, instances of potentially incomplete financial reporting under the club’s previous ownership. The reported matters related to historical transactions which took place between 2012 and 2019.

"Following its assessment, including the applicable statute of limitations, the CFCB First Chamber entered into a settlement agreement with the club which has agreed to pay a financial contribution of €10 million to fully resolve the reported matters."

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