The Premier League has launched an investigation into potential financial rule infractions involving Chelsea.
Chelsea incurred a £8.6 million fine from UEFA in July due to their violation of Financial Fair Play regulations. This breach arose from their submission of “incomplete financial information” spanning from 2012 to 2019. The new owners of Stamford Bridge, following the club’s sale in May, were responsible for bringing these infractions to light. It’s been disclosed that the Premier League was also apprised of similar concerns.
At present, the league is delving into whether formal charges, akin to those faced by Manchester City and Everton, are warranted in Chelsea’s case. The original fine related to a seven-year period during which Roman Abramovich held sway over the club. Subsequently, Abramovich sold Chelsea to a consortium led by American investor Todd Boehly and private equity firm Clearlake Capital.
Chelsea has affirmed their “complete cooperation and assistance” during UEFA’s investigations, also disclosing that they “reached a settlement agreement” with the governing body.
Consequences for breaching financial rules can encompass fines and points deductions for clubs. Manchester City, the reigning Premier League champions, faced over 100 charges of financial rule violations in February, which they have staunchly denied. Similarly, Everton found themselves referred to an independent commission by the Premier League in May over alleged financial fair play rule violations, also which they deny.
