In May of last year, a new ownership group completed the purchase of the club from Abramovich, who had been subject to sanctions because of his connections to Russian President Vladimir Putin. The consortium was headed by Todd Boehly and Clearlake Capital.
UEFA said it was contacted “proactively” by the Boehly-led consortium. UEFA, which has also barred Juventus from participating in the Europa Conference League this season owing to financial problems, confirmed this.
They found instances of past transactions between 2012 and 2019 submitting incomplete financial information, in violation of UEFA Club Licencing and Financial Fair Play rules.
According to a statement from UEFA, “the CFCB (Club Financial Control Body) First Chamber entered into a settlement agreement with the club which has agreed to pay a financial contribution after its assessment, including the applicable statute of limitations.”
After a poor first year in charge, the sanction is yet another setback for Chelsea’s current owners. The club’s 12th-place result in the Premier League last season was its lowest since 1993/94.
Since Boehly’s appointment, Chelsea has spent almost £600 million on new players, and former Tottenham manager Mauricio Pochettino has been given the job of improving the team’s performance on the pitch.
The Italian powerhouses Juventus have also received criticism after a separate UEFA probe, and in addition to being banned from playing in Europe, they have also been fined 20 million euros (£17.14 million).
Juventus will only be required to pay the remaining half of the fine if their financial records for the following three years do not meet the accounting standards. The other half of the payment, however, has been deferred.
The club was previously eliminated by UEFA.
Juventus – who were docked 10 points last season over their past transfer dealings, effectively ending their hopes of Champions League qualification – were found to have violated the framework of a settlement agreement with UEFA in August last year.
Juventus president Gianluca Ferrero said in a statement on the club’s website: “We regret the decision of the UEFA Club Financial Control Body.
“We do not share the interpretation that has been given of our defence and we remain firmly convinced of the legitimacy of our actions and the validity of our arguments.
“However, we have decided not to appeal this judgement. Despite this painful decision, we can now face the new season by focusing on the field and not on the courts.”
