Chelsea FC have been fined £10.75 million and handed a suspended one-year transfer ban by the Premier League after being found guilty of breaching financial regulations during the club’s previous ownership.
An independent commission ruled that the London club failed to disclose more than £47 million in payments made to players, unregistered agents and third parties linked to several transfer deals between 2011 and 2018, when the club was owned by Russian billionaire Roman Abramovich.
The Premier League announced that Chelsea will pay the fine while the ban on registering new first-team players will be suspended for two years, meaning it will only come into effect if the club commits further breaches during that period.
In addition to the financial penalty, Chelsea have also been given a nine-month ban on signing academy players from other English clubs and a further £750,000 fine for breaches of youth recruitment rules between 2019 and 2022.
Chelsea’s current ownership group, led by American businessman Todd Boehly, reportedly uncovered the irregularities during due diligence after purchasing the club in 2022 and voluntarily reported the matter to authorities.
According to the Premier League, the club’s self-reporting and cooperation during the investigation were taken into account when determining the punishment, helping Chelsea avoid more severe sporting sanctions such as a points deduction.
Despite the settlement with the Premier League, Chelsea could still face separate disciplinary proceedings from the The Football Association, which is investigating several alleged breaches related to the use of unregistered agents in transfer dealings.
Chelsea said in a statement that the club accepts the sanctions and remains committed to operating transparently and in compliance with football regulations.
Source: Starrfm.com.gh/Jones Adzi
