UEFA Slams Chelsea With Hefty Fine For “Incomplete Financial Information”

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    UEFA have slapped Chelsea with a fine of £8.6 million for breaching Financial Fair Play rules dating back to former owner Roman Abramovich.

    The governing body of European football on Friday, July 28, 2023 revealed that the Blues put forward “incomplete financial information” between 2012 and 2019 under the ownership of Abramovich.

    Todd Boehly, who acquired the club in May 2022, notified UEFA of the divergence in the accounts after the British government forced Abramovich to sell Chelsea due to his links with Russian president Vladimir Putin.

    UEFA fine Chelsea for Financial Fair Play
    Chelsea breached financial fair play rules under Roman Abrahmovic

    Chelsea will face no additional punishment greater than the £8.6 million fine, although the Premier League are also set to make their own investigations into the breaches.

    Statement from UEFA to Chelsea over the fine for Financial Fair Play breaches

    Excerpt from a statement put out by UEFA reads: “With respect to Chelsea FC, the CFCB First Chamber concluded that the club breached the UEFA Club Licensing and Financial Fair Play regulations as a result of submitting incomplete financial information.”

    The European football governing body indicated Todd Boehly’s proactive actions by identifying and filing a report immediately.

    UEFA wrote: “Following the club’s sale in May 2022, the new ownership identified, and proactively reported to UEFA, instances of potentially incomplete financial reporting under the club’s previous ownership.”

    Chelsea, who are presently involved in a preseason tour to the United States Of America will not be playing in any European competition next season.

    UEFA fine Chelsea for Financial Fair Play
    Chelsea are currently making needed preparations ahead of the 2023/24 season

    The Stamford Bridge club finished 12th last season in the Premier League and are making reinforcements that will catapult them back to competitive reckoning.

    Chelsea will trade tackles with Premier League side Fulham on the 30th of June, 2023 in preseason as they intensify preparations for the new campaign.

    Mauricio Pochettino’s side have been involved in three matches so far this preseason; with a victory against Wrexham (5-0), Brighton (4-3) and a draw against Newcastle United (1-1).

    In what might be a baptism of fire for Pochettino, he will be welcoming Liverpool to Stamford Bridge on the 13th of August in Chelsea’s first game of the 2023/24 season.

    The Southwest Londoners have signed four players this summer, namely; Christopher Nkunku, Nicolas Jackson, Angelo and Diego Moreira.

    Juventus banned by UEFA from playing in the 2023/24 UEFA Europa Conference League

    Meanwhile, UEFA has announced that Juventus have been banned from competing in the 2023/24 edition of the European Conference League due to false accounting matters.

    They were initially deducted 10 points in the Serie A and that resulted in the Bianconeri missing out of the UEFA Champions League.

    Juventus have also been slammed with a fine of £17.2 million, although they will only have to part with half of that amount if there are no irregularities in their accounts till 2025.

    Juventus banned from the 2023/24 UEFA Europa Conference League

    The Turin-based club also put out a statement revealing that they wouldn’t be appealing the decision.

    The Bianconeri express that they do not agree that they have committed any offense and they “remain firmly convinced of the legitimacy” of their actions.

    Confirming their decision not to appeal the judgment, Juventus wrote: “However, we have decided not to appeal this judgment.

    “Lodging an appeal, possibly to other levels of judgment, with uncertain outcomes and timing, would increase the uncertainty with respect to our eventual participation in the 2024-25 UEFA Champions League.”

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