Chelsea respond to £8.6m UEFA settlement for Abramovich-era FFP breach

Chelsea self-reported some incomplete financial reporting to UEFA and as a result agreed to a settlement with the European governing body with regards to Financial Fair Play

The west London side discovered the issues during their due diligence process and following the completion of the purchase of the club in May 2022 raised the issue to UEFA. The settlement figure was agreed following an analysis by the UEFA Club Financial Control Body. It will be a fixed payment.

The breaches occurred in a period between 2012 and 2019, with Club Financial Control Body first chamber concluded that the club breached the UEFA Club licensing and Financial Fair Play regulations as a result of submitting incomplete financial information.

Chelsea's full statement reads:

"Chelsea FC’s ownership group completed its purchase of the club on 30 May 2022. During a thorough due diligence process prior to completion of the purchase, the ownership group became aware of potentially incomplete financial reporting concerning historical transactions during the club’s previous ownership. Immediately following the completion of the purchase, Chelsea self-reported these matters to UEFA.

"Chelsea has fully cooperated and assisted UEFA with its investigation of these matters and, following an analysis by the UEFA Club Financial Control Body, the club has entered into a settlement agreement with UEFA. Under that settlement the club is to pay a financial contribution of €10 million to UEFA as a fixed payment.

"In accordance with the club’s ownership group’s core principles of full compliance and transparency with its regulators, we are grateful that this case has been concluded by proactive disclosure of information to UEFA and a settlement that fully resolves the reported matters.

"We wish to place on record our gratitude to UEFA for its consideration of this matter. Chelsea greatly values its relationship with UEFA and looks forward to building on that relationship in the years to come."