Chelsea probed for financial breaches: Premier League investigation underway

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The Premier League has initiated an investigation into potential breaches of financial regulations by Chelsea Football Club. 

This inquiry follows closely on the heels of Chelsea being fined £8.6 million by UEFA in July due to violations of Financial Fair Play rules. The transgressions revolved around the club's failure to provide comprehensive financial information between the years 2012 and 2019.

The non-compliance came to light under the new ownership structure of Stamford Bridge, which was established after the club's sale in May. It is believed that the club's current ownership promptly alerted the Premier League authorities about similar issues, indicating a commitment to transparency and adherence to financial rules.

The Premier League is now deliberating whether to proceed with formal charges, a course of action comparable to that undertaken against Manchester City and Everton for similar financial irregularities. Notably, the previously mentioned UEFA fine pertained to a period spanning seven years during Roman Abramovich's tenure as the club's owner.

Notably, Abramovich recently transferred ownership of Chelsea to a consortium led by American investor Todd Boehly and private equity firm Clearlake Capital. The club has confirmed its cooperation with UEFA's investigations and the subsequent settlement reached with the governing body.

It's crucial to highlight that clubs found guilty of financial rule violations can incur fines and even points deductions. Manchester City, reigning Premier League champions, faced a barrage of over 100 charges related to financial misconduct in February. However, they vehemently denied any wrongdoing. Similarly, Everton found themselves under scrutiny by the Premier League in May for alleged breaches of financial fair play regulations. They, too, denied the accusations.