Football: Premier League investigating Chelsea over possible financial violations
Football: Premier League investigating Chelsea over possible financial violations
The Premier League is investigating potential financial rule breaches at Chelsea under Roman Abramovich's ownership, CEO Richard Masters told Britain's Times newspaper on Wednesday (August 9, 2023).
Abramovich sold the club last year to an investment group led by American businessman Todd Boehly and Clearlake Capital after the Russian oligarch's assets in Britain were frozen by the UK government following his country's invasion of Ukraine, which Moscow calls a "special military operation".
Chelsea's new owners self-reported a number of financial transactions during the Abramovich era to European soccer's governing body UEFA, the Premier League and the FA.
The Times reported that the inquiry encompasses multi-million-pound payments to undisclosed offshore entities, with connections to football intermediaries, potentially resulting in penalties such as a substantial fine or even a points deduction for the club.
UEFA reached a settlement in July with Chelsea over the submission of incomplete financial information, related to "historical transactions" between 2012-19, with the London club paying a fine of 10 million euros ($10.98 million).
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