Chelsea news: The Blues have paid a settlement after breaching financial fair play rules in regards to reporting of finances
Chelsea have agreed a settlement with UEFA in the region of £8.5million for breaching Financial Fair Play rules that related to incomplete reporting of their finances.
The charge came in light of the sale of the football club last May, which saw former owner Roman Abramovich forced to sell amid sanctions levied by the UK government. That was due to claims that he had ties to Vladimir Putin - which he denies - and such sanctions were made following Russia's invasion of Ukraine.
It led to the club being unable to operate in its usual way, especially on a commercial basis and with the inability to sell tickets, until a takeover was complete. A thorough but quick process was undertaken and eventually, Boehly-Clearlake were chosen as the winning consortium.
The huge change did see the new ownership report to UEFA some instances of potential incomplete financial reports, which is what led to the charges. The period is claimed to be between 2012 and 2019, related to historical transactions and resulted in the settlement being agreed.
A statement from UEFA reads: "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."
This is a developing story, more to come as it breaks...