Latest Chelsea News: UEFA Fines Chelsea €10 Million for Historical FFP Breaches

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Latest Chelsea News: UEFA has fined Chelsea €10 million for historical breaches of Financial Fair Play (FFP) regulations.

The Premier League club submitted incomplete financial information related to transactions that occurred between 2012 and 2019 during the ownership of Roman Abramovich.

Chelsea’s new ownership, led by a consortium headed by Clearlake Capital and Todd Boehly, who acquired the club in May 2022, alerted UEFA to the historical cases of incomplete financial reporting. The €10 million fine settles the matter, and Chelsea will not face any further sporting sanctions as a result of the breach. However, the club will not participate in any European competition in the upcoming season after finishing 12th in the Premier League in the 2022-23 campaign.

The case was overseen by UEFA’s Club Financial Control Body (CFCB), an independent panel responsible for monitoring and enforcing FFP regulations to ensure financial compliance in European football.

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A statement from UEFA explained that the CFCB First Chamber concluded that The Blues breached the UEFA Club Licensing and Financial Fair Play regulations due to the submission of incomplete financial information. The new ownership, upon taking over the club, proactively reported instances of potentially incomplete financial reporting from the previous ownership period, which occurred between 2012 and 2019.

As part of the settlement agreement, Chelsea has agreed to pay a financial contribution of €10 million to fully resolve the reported matters, including historical financial transactions. The club’s cooperation and proactive reporting played a crucial role in the resolution of the case.

In a separate case, Juventus has been fined €20 million by UEFA, with €10 million of the fine suspended, and they have been banned from European competition for a year due to their own FFP violations.

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