Chelsea have become the latest Premier League to be fined €10million (£8.6m, $11m) by UEFA for historical breaches of Financial Fair Play (FFP) regulations.
The Premier League side submitted incomplete financial information related to agent transactions that took place between 2012 and 2019 under the previous ownership of Roman Abramovich. The €10m fine has settled the matter and Chelsea will face no further sporting sanctions from UEFA. The west London club are not in any European competition next season after finishing 12th in the Premier League in 2022-23.
A UEFA statement read: “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. 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. The reported matters related to historical transactions which took place between 2012 and 2019. Following its assessment, including the applicable statute of limitations, the CFCB First Chamber entered into a settlement agreement with the club which has agreed to pay a financial contribution of €10million to fully resolve the reported matters.”
Earlier this month UEFA’s Club Financial Control Body fined Manchester United €300,000 (£256,744) for a “minor breakeven deficit” under its Financial Fair Play rules. The CFCB found United did not meet their target to approach breakeven on football-related business, including player transfers, wages and social taxes.
In 2019, Man City were handed a ban from the Champions League for two seasons by UEFA and fined €30m. However, the Court of Arbitration for Sport (CAS) ruled a year later that the club did not disguise equity funding as sponsorship contributions – but that City did fail to co-operate with UEFA authorities over FFP.
Manchester City are alleged to have clocked up more than 100 breaches of Premier League rules during a 14-year-period in which they have won the Premier League six times.
Last year West Ham and 18 other clubs were added to an UEFA watch list
A statement on the UEFA website read: “Finally, the CFCB First Chamber also observed that another 19 clubs that took part in the 2021/22 UEFA club competitions, namely Borussia Dortmund, Chelsea, FC Barcelona, FC Basel 1893, 1.FC Union Berlin, Fenerbahçe SK, Feyenoord, Leicester City FC, Manchester City FC, Olympique Lyonnais, Rangers, Real Betis Balompié, Royal Antwerp FC, Sevilla FC, SS Lazio, SSC Napoli, Trabzonspor AS, VFL Wolfsburg and West Ham United FC, were able to technically fulfil the break-even requirement thanks to the application of the COVID-19 emergency measures and/or because they benefited from historical positive break-even results (T-3 and T-4).
“The CFCB First Chamber reminded these clubs that as from financial year 2023 these exceptional COVID deductions and consideration of historical financial results will no longer be possible. These clubs were further asked for additional financial information and will be monitored closely in the upcoming period. The goal of course is that the clubs’ overall financial situation is in compliance with the UEFA Club Licensing and Financial Sustainability Regulations – Edition 2022, in coming years.”
Last year Paris St-Germain, Milan, Juventus and Internazionale are among eight clubs who have agreed settlements with Uefa after failing to comply with UEFA break-even FFP requirements. The eight clubs have agreed to fines totalling €172m (£149m), of which €26m must be paid in full, with the balance conditional on compliance with targets laid out in their respective settlement agreements.
It has also been confirmed that Juventus have been kicked out of next season’s Europa Conference League over breaches of financial fair play.
A UEFA statement today has confirmed that Juventus violated UEFA’s regulatory framework and breached a settlement agreement signed in 2022.
As a result, Juventus have been excluded from UEFA competitions next season and hit with a 20 million euro (£17.1m fine) – though half of that amount is conditional and will only be enforced if the club’s financial statements for the next three financial years do not breach regulations.
Barcelona were imposed a fine of €500,000 for wrongly reporting, in the financial year 2022, profits on disposal of intangible assets (other than player transfers) which are not a relevant income under the regulations