Chelsea and Uefa have come to an agreement, and as retaliation for “incomplete financial reporting” while owned by Roman Abramovich, Chelsea will pay Uefa €10 million (£8.57 million).
Todd Boehly and Clearlake Capital, as the club’s new ownership group, completed the displacement of Abramovich in May of last year. Abramovich faced punishment due to his connections to Russian President Vladimir Putin.The Boehly-led consortium “proactively” contacted Uefa, according to Uefa. In historical transactions that took place between 2012 and 2019, it found instances of incomplete financial information being provided, in violation of Uefa Club Licencing and Financial Fair Play rules.
“Following its assessment, including the applicable statute of limitations, the CFCB [Club Financial Control Body] First Chamber entered into a settlement agreement with the club which has agreed to pay a financial contribution of €10m to fully resolve the reported matters,” read a Uefa statement.
A Chelsea statement read: “In accordance with the club’s ownership group’s core principles of full compliance and transparency with its regulators, we are grateful that this case has been concluded by proactive disclosure of information to Uefa and a settlement that fully resolves the reported matters.
“We wish to place on record our gratitude to Uefa for its consideration of this matter. Chelsea greatly values its relationship with Uefa and looks forward to building on that relationship in the years to come.”
Uefa has also banned Juventus from playing in European competition next season over breaches of its Club Licensing and Financial Fair Play rules.
In December, UEFA opened a formal investigation into Juventus, several months after the Italian club, along with seven other clubs, reached a settlement with UEFA for their failure to comply with break-even requirements. In a statement, the governing body said it would “impose an additional financial contribution of €20m on the club.”