Just as Chelsea seemed to be on the upswing, a significant report in the Guardian today unveils the looming and tangible threat of a points deduction for the club.
Among the multitude of revelations, one striking disclosure is that Chelsea former owner, Roman Abramovic. He may have been financing the club in a manner that not only violated profitability and sustainability rules. But openly mocked them.
The key development for Chelsea fans is that an inquiry will be there into these matters. If the club violated these regulations to the extent suggested, a points deduction is highly probable.
Roman Abramovich acquired Chelsea for £140 million in 2003 and injected a remarkably substantial amount of funds into the club. It’s crucial to recall that, at that time, such a financial injection on this magnitude had never occurred before. The transformation was rapid, transitioning from signings like Petit and Gallas in one window to an influx of players such as Crespo, Veron, Duff, Makelele, Parker, Cole, Bridge, Glen Johnson, and Mutu in the next—creating a football landscape that seemed almost surreal and happened practically overnight.
Will Chelsea get into trouble because of unclear financial record?
Abramovich eventually divested his ownership last year. Prompted by Russia’s invasion of Ukraine, which rendered his ownership financially untenable due to the UK’s imposed sanctions on the country. However, almost immediately after his departure, various revelations have emerged about his tenure at the club.
In fact, the Premier League had already initiated an investigation into Chelsea’s finances. Todd Bohelly and his associates voluntarily disclosed that they had discovered “incomplete financial information”. Spanning from a period between 2012 and 2019.
If there is evidence demonstrating that the club has engaged in third-party transactions, it would involve every other individual and company mentioned here. Those funneling money, whether directly or indirectly, to individuals associated with Chelsea, are third parties. Despite Abramovich being the owner, they are not inherently affiliates of the club. It goes against the rules for them to expend their own funds on behalf of a football club.
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