Chelsea has been hit with a suspended transfer ban and a Premier League record punishment of £10.75 million. It came about as a result of the club paying unregistered agents and third parties in secret during moves between 2011 and 2018.
It might have been far worse, though. A higher fine and possible point punishment could only be avoided by an open acknowledgement of guilt and complete cooperation. The Premier League released a 28-page dossier outlining all the wrongdoings, including the amount of money disbursed, who received it, and which transfer transactions were involved.
Chelsea paid £47.5 million in 36 different payments to 12 people or businesses. They were created through a number of third parties, most of which had British Virgin Islands registrations. The payments were made without showing up on the club’s books, either to finalise player acquisitions or to obtain transfer options.
They “involved deception and concealment in relation to financial matters” and were determined to be “obvious and deliberate breaches”. Roman Abramovich, the former owner of Chelsea, was connected. The money used for the payments was “controlled by or associated with the former owner” and was used “with the knowledge and approval of certain senior former officers and/or Directors”.
Chelsea has suspended transfer ban for breach of rules
Chelsea has also been charged by the Football Association with 74 alleged breaches of that governing body’s rules, also in connection to the information the new owners shared with the football authorities.
Chelsea released the following statement regarding the Premier League settlement: The club voluntarily and proactively disclosed to all relevant regulators potential historical rule breaches, including incomplete financial reporting that occurred more than ten years ago.
“The club proactively released hundreds of papers during a thorough Premier League probe. Additionally, the club immediately responded to the Premier League’s demands for information, facilitating all lines of investigation to assist a complicated and incredibly detailed process.
Additionally, a third party gave the club fresh information throughout the inquiry about possible Premier League rule violations by a former employee in a few past academy deals. This information was immediately and proactively self-reported to the Premier League. “The club has taken these issues seriously from the beginning of this process and has fully cooperated with all the agencies.
