Chelsea agree resolution over finances that sees them hand €10 million to UEFA

Chelsea have agreed a resolution with UEFA that will see them hand over €10 million (£8.57million) after owning up to “incomplete financial reporting” under the Roman Abramovich regime.

A new ownership group led by Todd Boehly and Clearlake Capital completed their takeover of the club in May last year from Abramovich, who was sanctioned over his links to Russia president Vladimir Putin.

UEFA, which has also banned Juventus from competing in the Europa Conference League this season due to financial irregularities, confirmed it was approached “proactively” by the Boehly-led consortium.

They detected instances of partial financial information being submitted in historical transactions occurring between 2012 and 2019, breaching UEFA Club Licensing and Financial Fair Play regulations.

A UEFA statement said: “Following its assessment, including the applicable statute of limitations, the CFCB (Club Financial Control Body) First Chamber entered into a settlement agreement with the club which has agreed to pay a financial contribution of 10million euros to fully resolve the reported matters.”

The sanction represents another blow for Chelsea’s current owners after a disappointing first year at the helm, with the club’s 12th-place finish in the Premier League last term their worst since 1993-94.

Chelsea have forked out around £600million in transfers since Boehly’s arrival, while former Tottenham boss Mauricio Pochettino has been tasked with turning around their on-pitch fortunes.

Juventus have also been reprimanded after a separate UEFA investigation and as well as throwing the Italian giants out of European football, they have been fined €20 million.

However, half of that fine has been suspended and Juventus will only have to pay