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Thursday, December 7, 2023

UEFA fines Chelsea for FFP violation, bans Juventus from European competitions

UEFA has fined Chelsea €10 million (£8.5m) for Financial Fair Play (FFP) breaches.

The breaches arose when Roman Abramovich was still the owner of the Premier League club.

The Blues admit they provided incomplete financial information to the game’s European governing body.

The club’s new owners, led by Todd Boehly, noticed the breaches and quickly informed UEFA.

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“Following its assessment, including the applicable statute of limitations, the CFCB First Chamber entered into a settlement agreement with the club, which has agreed to pay a financial contribution of €10 million to fully resolve the reported matters,” UEFA’s statement said in part.

However, Juventus have been banned from European competition for the 2023–2024 campaign and will also pay a €20 million (£17m) settlement.

The statement added: “The CFCB First Chamber concluded that Juventus (ITA) violated the UEFA’s regulatory framework and breached the settlement agreement signed in August 2022.

“As a result, the CFCB First Chamber terminated the settlement agreement concluded with the club and decided: to exclude Juventus from the 2023–24 UEFA men’s club competition.

“And to impose an additional financial contribution of €20 million on the club. Of this amount, €10 million is conditional and will only be enforced if the club’s annual financial statements for the financial years 2023, 2024, and 2025 do not comply with the accounting requirements as defined in Annex G of the UEFA Club Licencing and Financial Sustainability Regulations.”

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