The Premier League has began investigations on Chelsea for possible breaches of financial fair play rules.
The London club came under the Premier League radar after they were slammed with a £8.6m fine by UEFA in July, 2023 for breaching financial fair play rules
From UEFA table, Chelsea submitted incomplete financial documents from 2012 to 2019 when Roman Abramovich was still in-charge of the club before exiting the reins in 2022.
Unlike other clubs such as Manchester City, Juventus, and PSG who have come under the scrutiny of UEFA for alleged breach of financial regulations, Chelsea self-reported themselves.
The move to hand themselves in to relevant authorities is spearheaded by the current Chelsea ownership led by Todd Boehly.
Todd Boehly reportedly handed the club in for alleged financial breaches under his predecessor Roman Abramovich, pledging to cooperate with UEFA and other relevant bodies in the investigation process.
In July 2023, UEFA slammed a £8.6m fine on the London club for the alleged breaches.
Now, the Premier League have swung into action, beginning investigations into the alleged breaches as the club also notified the Premier League of the financial irregularities under Roman Abramovich’s tenure.
Premier League chief executive, Richard Masters, confirmed the Premier League’s investigations into the “historic issues with regard to Chelsea.”
Masters also confirmed Chelsea self-reported themselves and are under probe.
“We have been pretty open about the historic issues with regard to Chelsea because they self-reported to the Premier League and to the Football Association so it is obvious we are looking into that.”
There are projections Chelsea may end in a “Manchester City-style” faceoff with the Premier League as investigations into the alleged financial breaches takes center stage.
Manchester City have denied the allegations but are set for a dragging legal tussle with the Premier League.
If found guilty, they could be stripped of all Premier League titles won, fined, or suspended from the Premier League and relegated to the second division.
Chelsea’s case may take a slight departure from Manchester City’s however but how the outcome will swing is still unpredictable.
Chelsea are not denying the allegations but self-reported themselves and have pledged maximum cooperation with relevant authorities.
Hence, it is believed the club are not likely to face hefty sanctions such as relegation to the second division but may be hit with a fine or frozen out of the transfer market by being restricted from buying players.
Meanwhile, while the UEFA limited their probe to Roman Abramovich era from 2012 to 2019, there are reports Todd Boehly last summer’s £685m splurge on transfer may also put the club in dire condition.
While the Premier League intends to focus on the said financial breaches during Abramovich’s era, the football governing body is reportedly set to extend their searchlight into Chelsea’s recent spending under Todd Boehly.
Despite risking sanctions and potential Champions League ban, Todd Boehly has continued on his wild spending spree this summer but has pecked down his spending by going for low-value players.
He has also overseen a massive overhaul to streamline the squad and also balance off the financial books.
