Chelsea fined €10m for breaches of FFP regulations in the Roman Abramovich era
As per the Athletic (subscription required), Chelsea are fined €10m for previous breaches of the Financial Fair Play (FFP) regulations when Roman Abramovich was in charge of the club.
It is revealed that the Blues submitted incomplete financial information which was related to the transactions taking place between 2012 and 2019. Abramovich was the club owner in that time period.
The ownership changed hands last summer when the Russian billionaire had to relinquish his UK-based asset following the sanctions due to the war in Ukraine.
New Chelsea owners, which is a consortium led by Clearlake Capital and Todd Boehly, informed UEFA about the sharing of incomplete financial information in the past.
After all that, it is confirmed that the Blues will face no further punishment once they pay the €10m fine for the wrongdoing. FFP has taken over football transfers in the past few years. The application of the regulations seems weird at the times, but this was one straightforward case.
Chelsea have made a conscious attempt to avoid further FFP breaches by balancing the financial books through multiple player sales this summer. To their credit, the club has done a good job of raising a decent amount of money from selling players who were not required anymore.
More departures might take place as manager Mauricio Pochettino clearly mentioned that the squad is too big for the sustainable development of the team. The window still has just over a month remaining.
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While it is good to sell players and make a profit, Chelsea are short in the midfield department and need a couple of signings there. Apart from Enzo Fernandez and Conor Gallagher, there isn’t any experience in the remaining players. The Moises Caicedo deal is becoming harder to complete by the day as well.