The Guardian and international partners shed light on secret payments made by companies affiliated with former Chelsea owner Roman Abramovich.
These payments have bolstered the club’s fortunes, helping them sign players without a trace in their annual accounts.
Chelsea may face a points deduction if found guilty. It could have dire consequences for the club’s standing in the league table.
A second season without European football will be catastrophic for the Blues, especially after their ridiculous transfer outlay over the past year.
Chelsea’s tumultuous recent history, including Abramovich’s enforced sale of the club in 2022 and subsequent revelations of incomplete financial information submitted to football authorities between 2012 and 2019, has only added fuel to the fire.
The Todd Boehly-Clearlake Capital consortium took over Chelsea last year and set aside £100 million to navigate potential financial investigations.
Chelsea reached an £8.7m settlement with UEFA in July, but the Premier League continues to investigate as they do not have the same statute of limitations.
Unlike UEFA, the Premier League can delve into historical financial discrepancies and dish sanctions like points deduction and expulsion from competition.
Interestingly, Manchester City are also being investigated for breaching FFP having been charged with 115 breaches in February 2023.
However, their case has been a slow-burner. Boosted by the vast riches of Abu Dhabi, the club have enlisted the expertise of Lord Pannick KC, a prominent lawyer who advised Boris Johnson in the Partygate enquiry.
Pannick has suggested that it will take a while before any resolution is reached, emphasising the stark contrast in the swiftness of investigations between the two clubs.
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