Chelsea face a fine or deduction of points in the Premier League due to payments to offshore companies – Kommersant
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The English Premier League (EPL) initiated an investigation against the London football club Chelsea for financial fair-play (FFP) violations when the team was still owned by Roman Abramovich. The club faces a fine or deduction of points in the championship, reports The Times.
The publication clarifies that the Premier League saw violations in Chelsea’s payments to six offshore companies. FFP violations in this case are payments to counterparties not listed in Chelsea’s documentation. For this, the team was fined €10 million at the end of July of this year by UEFA.
As The Times explains, throughout the period that Abramovich owned the club, Chelsea’s financial ecosystem was heavily dependent on offshore payments between the club and several related companies.
In 2022, during the negotiations for the sale of Chelsea to entrepreneur Todd Böhli, it turned out that Roman Abramovich financed the team by giving it interest-free and, as it seemed then, non-performing loans. The borrower was Chelsea’s parent company, Fordstam Ltd, and the lender was Jersey-registered (an offshore British Crown holding, but not part of the UK) Camberley International Investments. The total amount of loans reached 1.5 billion pounds in 2022.
In addition, according to The Times, the Premier League is investigating possible payments by the club to the father of Danish defender Andreas Christensen. It was previously reported in the media that the club was hiring a man to scout for football talent.
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