Chelsea could reportedly be hit with a points deduction if they are found guilty of breaching strict football rules. An investigation into the reign of Roman Abramovich has prompted questions about some of the finances involved in his success as owner of the club. The 57-year-old sold the Blues in 2022 after his assets – including the club – were put under sanction by the British government following Russia’s invasion of Ukraine.
Abramovich purchased Chelsea in 2003 for £140million and quickly made it his mission to make the club one of the best in the world. He invested heavily into the squad and saw his side win a total of 19 major trophies during his time at Stamford Bridge before reluctantly selling last year.
However, according to The Guardian, Chelsea are set to face ‘fresh questions’ about Abramovich’s reign as leaked documents suggest that strict rules may have been breached during his tenure – including Financial Fair Play regulations. Secret payments are said to have been made during his reign, which if proven true, would prompt action from the Premier League.
Leaked files allegedly show that a series of payments worth over tens of millions of pounds were made between 2013 and 2022, with the transactions routed through offshore vehicles belonging to Abramovich. It has been reported that the payments benefitted Chelsea, with agents connected to Eden Hazard and Antonio Conte allegedly among the beneficiaries. There is no suggestion that either knew about the payments.
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Experts say if Chelsea are found guilty and the Premier League impose a punishment, a deduction of points is one possible sanction. Earlier this year, the Blues voluntarily reported that they had ‘incomplete financial information’ during the previous ownership (Abramovich’s).
The Premier League are consequently investigating their finances between 2012 and 2019. It remains to be seen whether The Guardian’s alleged findings prompt further action to be taken as documents flagged are dated both ‘during and outside the period’.
The appointment of Conte in 2017 is among the key moments that are expected to come under scrutiny. It is claimed on the day that he was announced as Blues boss, Federico Pastorella, who has worked closely over the years with Conte, was paid £10m by an Abramovich-owned company based in the British Virgin Islands for a 75 per cent stake in Excellence Investment Fund, a business based in the US. When approached by The Guardian about the transaction, Pastorella declined to comment but insisted that he was not the agent of Conte.
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Other documents have also raised questions, and it is unclear whether they were declared by Chelsea in accounts submitted to the footballing authorities. Almost 12 months after Hazard joined the Blues, another company based in the British Virgin Islands and owned by Abramovich is said to have paid £6.1m to a Dubai-based company for ‘consultancy’.
The contract was allegedly signed on behalf of the company by John Bico-Penaque, the agent of Hazard. He did not respond when asked to comment by The Guardian.
Transactions involving companies linked to club officials have also allegedly been leaked, including a £250,000 payment made to ex-sporting director Frank Arnesen – which he says he declared for tax purposes.
It remains to be seen whether action is taken as a result of the investigation and if the strict regulations in the Premier League were breached whilst Chelsea enjoyed success on the pitch.
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