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Chelsea fined €10m by UEFA for FFP breaches


Chelsea have been fined €10million (£8.6m, $11m) by UEFA for historical breaches of Financial Fair Play (FFP) regulations.

The Premier League side submitted incomplete financial information related to transactions that took place between 2012 and 2019 under the previous ownership of Roman Abramovich.

UEFA says Chelsea’s new ownership, a consortium led by Clearlake Capital and Todd Boehly who purchased the club in May 2022, alerted European football’s governing body to the historical cases of incomplete financial reporting.

The €10m fine has settled the matter and Chelsea will face no further sporting sanctions from UEFA. The west London club are not in any European competition next season after finishing 12th in the Premier League in 2022-23.

Chelsea also reported their incomplete financial reporting to the Premier League when they informed UEFA of the issue. The Premier League are yet to confirm if they are investigating the club.

The case was overseen by the Club Financial Control Body (CFCB), an independent panel within UEFA that has investigatory and adjudicatory arms and is tasked with policing FFP and ensuring the regulations are followed.

A UEFA statement read: “With respect to Chelsea FC 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 €10million to fully resolve the reported matters.”

A Chelsea statement read: “Chelsea has fully cooperated and assisted UEFA with its investigation of these matters and, following an analysis by the UEFA Club Financial Control Body, the club has entered into a settlement agreement with UEFA.

“In accordance with the club’s ownership group’s core principles of full compliance and transparency with its regulators, we are grateful that this case has been concluded by proactive disclosure of information to UEFA and a settlement that fully resolves the reported matters.

“We wish to place on record our gratitude to UEFA for its consideration of this matter.”

Juventus, meanwhile, were fined €20m (€10m suspended) and banned from European competition for a year by UEFA.

GO DEEPER

Special report: What Roman Abramovich did next

(Photo: Mike Hewitt/Getty Images)



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