Chelsea faces probe over alleged financial breaches 

Chelsea is reportedly the subject of a Premier League investigation for alleged breaches of financial regulations during Roman Abramovich’s time at the club, according to a report on Tuesday published by the British newspaper “The Times”. It has been reported current owners, represented by an alliance led by American businessman Todd Boehly and the Clearlake Capital Consortium, who took over last summer after Abramovich was forced to sell following sanctions as a result of Russia’s invasion of Ukraine, flagged the potential issue to the Premier League and Football Association themselves. The new owners of Chelsea submitted a report to the English Premier League and the European Football Association (UEFA) stating that financial manipulation had been discovered in the Abramovich era, which spanned between 2003 and 2022. In the event that Chelsea is convicted, the expected penalty is the deduction of points from its balance in the English Premier League or financial fines. 2023-2024. UEFA announced last month it had been approached “proactively” by the club, who agreed to pay 10 million euros to Europe’s governing body after owning up to “incomplete financial reporting” between 2012 and 2019. Chelsea said in a statement at the time their new owners became aware of potential impropriety when carrying out a “thorough due diligence process” prior to the purchase. According to reports, no charges have yet been brought by the Premier League but, even though the allegations relate to previous ownership, possible sanctions could include a fine or points deduction if the club is found guilty of any wrongdoing. Now, Chelsea is facing similar charges that may plague the “Blues” season, as the club set to host its counterpart, Liverpool on August 13 at Stamford Bridge for the first round of the English Premier League 2023-2024.