Chief executive Richard Masters confirmed on Wednesday that the Premier League is investigating possible breaches of financial regulations at Chelsea under Roman Abramovich’s ownership.
Abramovich sold the club last year to an investment group led by American businessman Todd Boehly and Clearlake Capital after the Russian oligarch’s assets in Britain were frozen by the British government following his country’s invasion of Ukraine.
Chelsea’s new owners have reported a number of financial dealings under Abramovich with European football’s governing body UEFA, the Premier League and the FA.
“We’ve been quite open about historic matters regarding Chelsea because they reported themselves to the Premier League and the FA so obviously we’re looking into it,” Masters told British media as quoted by ESPN.
“If the Premier League believes a club has breached financial regulations and there is a case to be answered, that case will go to the club.”
The Times reports that the investigation includes payments of millions of pounds to undisclosed overseas entities, with connections to football brokers, which could lead to penalties such as hefty fines, or even a reduction in points for clubs.
“We want the legal process to be served as efficiently as possible, as quickly as possible,” added Masters.
“It’s not always easy to do these things quickly, but we want the right answer, positive or negative, whether the club is found guilty of breaking the rules or not.”
UEFA reached a settlement in July with Chelsea over the submission of incomplete financial information related to transactions between 2012 and 2019, for which the London club paid a fine of 10 million euros ($10.98 million).
“In accordance with the club ownership group’s core principles of full compliance and transparency with its regulators, we are grateful that this case has been resolved by the proactive disclosure of information to UEFA and a settlement that fully resolves the matter raised,” Chelsea said in a statement at the time. That.
Chelsea, who finished 12th in the Premier League last season, will not be competing in Europe in 2023-24.
