Chelsea have received a record fine of £10.75m from the Premier League for breaching financial regulations. The league also handed the club a one-window transfer ban, which is suspended for one year, according to Sky Sports. The sanctions relate to historical transactions occurring between 2012 and 2019 under previous ownership.
An independent commission found that the club failed to report certain payments made to agents and third parties during the acquisition of several players. These undisclosed costs allowed the club to circumvent spending limits. Chelsea reported the discrepancies themselves after the 2022 takeover, per The Guardian.
The Premier League stated the fine is the largest of its kind ever issued for financial reporting failures. Club officials expressed regret over the historical issues and confirmed they have implemented new reporting procedures. The suspended ban will only take effect if the club commits further financial breaches within the next 12 months. Chelsea will not appeal the decision, having co-operated fully with the investigation throughout the process.
