Chelsea being investigated by Premier League for possible financial breaches
The Premier League has launched an investigation into potential financial breaches at Chelsea during the ownership of Roman Abramovich, as confirmed by CEO Richard Masters on Wednesday, reported by ESPN. The inquiry focuses on the financial transactions that occurred under Abramovich’s tenure before the club was sold to an investment group led by American businessman Todd Boehly and Clearlake Capital last year.
The investigation stems from a series of self-reported financial transactions by Chelsea’s new owners, who revealed these dealings to UEFA, the Premier League, and the FA. The transactions occurred during Abramovich’s era and involved undisclosed offshore entities with ties to football intermediaries.
Masters stated, “We have been pretty open about the historic issues with regard to Chelsea because they self-reported to the Premier League and to the FA so it is obvious we are looking into that.” If the Premier League finds evidence of financial rule breaches, the matter will be presented to the club.
The probe might result in penalties such as significant fines or even a points deduction for Chelsea. While the process aims for swift resolution, Masters emphasized that accurate outcomes, whether confirming violations or clearing the club of wrongdoing, are the priority.
This inquiry follows UEFA’s settlement with Chelsea in July, where the club paid a €10 million fine over incomplete financial information submitted to the governing body. Chelsea responded with a statement emphasizing their commitment to compliance and transparency.
As Chelsea navigates this investigation, they have the added challenge of not participating in European competitions during the 2023-24 season. The club’s absence from the European stage marks a significant development for a team that has historically been a formidable presence in continental football.
