UEFA finds Chelsea guilty of breaching financial fair play rules
The body governing football in Europe, UEFA has found Chelsea Football Club guilty of breaching its financial fair play rules.
This was announced in a statement released by the body confirming that the club failed to submit complete financial information during Roman Abramovich's era. However, Chelsea have agreed a settlement with UEFA and will hand over 10million euros (£8.6m).
The body confirmed in a statement that the club's new owners reported to situation to UEFA, stating instances of potentially incomplete financial reporting under the club's previous ownership" between 2012 and 2019.
"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 10 million euros to fully resolve the reported matters."
On the other hand, UEFA decided to suspend Juventus from the Europa Conference League in a separate financial wrongdoing case.
The CFCB First Chamber concluded that Juventus violated the UEFA's regulatory framework and breached a settlement agreement signed in August 2022.