Chelsea Football Club is engaged in discussions with the Premier League regarding a financial settlement over undisclosed payments related to transfers during Roman Abramovich’s ownership. The current ownership, led by Todd Boehly and Clearlake Capital, discovered these irregularities during their acquisition of the club in May 2022 and reported them to the Premier League and UEFA.
The investigation revolves around secret payments connected to high-profile transfers, including those of Samuel Eto’o, Willian, and Eden Hazard. These payments, reportedly made in 2013, involved transactions to companies registered in the British Virgin Islands. The payments were not directly tied to the official transfer fees, raising questions about compliance with financial regulations. However, there is no indication that the players involved were aware of these transactions.
While breaches of financial rules could typically result in sporting sanctions, including potential points deductions, Chelsea’s self-reporting and proactive approach may mitigate such outcomes. The club’s current leadership has emphasized that the irregularities occurred under the previous ownership and that their discovery was a result of the due diligence conducted during the takeover process. This transparency is expected to play a significant role in the resolution of the case.
A decision on the matter is anticipated by the end of March. Sources close to the discussions suggest that a financial settlement is the most probable outcome, rather than a sporting penalty. Chelsea’s cooperation and openness have reportedly garnered sympathy from rival clubs, which recognize the challenges faced by the new owners in addressing legacy issues.
In a similar case, Chelsea reached an agreement with UEFA in July 2023, paying a settlement of £8.6 million. This arrangement was not classified as a sanction, and it is expected that any resolution with the Premier League will follow a similar framework. The Premier League is likely to clarify that the settlement is not indicative of wrongdoing by the current ownership but rather a resolution of historical matters.
The situation has not affected Chelsea’s compliance with the league’s profitability and sustainability regulations. The club remains within the required financial parameters, alleviating concerns about further regulatory scrutiny.
The transfers of Eto’o and Willian, both acquired from the now-defunct Anzhi Makhachkala in 2013, have been central to the investigation. Financial documents indicate that payments were made to two companies Tobeo Services Inc and Fernington Invest Corp located in the British Virgin Islands. These transactions have been under scrutiny for their lack of transparency. Despite the controversy, there is no suggestion that either player was involved in or aware of the arrangements.
Chelsea’s current management is committed to resolving the matter promptly and responsibly. By addressing the legacy issues inherited from the Abramovich era, the club aims to reinforce its commitment to integrity and financial compliance. This approach is expected to safeguard the club’s reputation and avoid disruptions to its sporting ambitions.