Chelsea reacts to UEFA’s punishment

Chelsea has come out with an official reaction to the penalty imposed by UEFA, where they will pay a fine of ten million euros.

The London club was punished by the home of European football for half-assed financial reporting, but that’s the end of the matter.

“Chelsea FC’s ownership group completed the acquisition of the club on 30 May 2022. During a due diligence process prior to completion of the acquisition, the ownership group became aware of potentially incomplete financial reporting relating to historical transactions during the ownership of previous club. “Soon after the completion of the acquisition, Chelsea self-reported these issues to UEFA,” their response reads.

“Chelsea has fully co-operated and assisted UEFA in its investigation into these matters and, following an analysis by UEFA’s Club Financial Control Body, the club has entered into a settlement agreement with UEFA. According to this agreement, the club must pay a financial contribution of 10 million euros to UEFA as a fixed payment.

“In line with the club’s ownership group’s core principles of full compliance and transparency with its regulators, we are grateful that this case has been concluded with proactive disclosure to UEFA and a resolution that fully resolves the issues reported.”

“We would like to express our gratitude to UEFA for looking into this matter. “Chelsea highly values its relationship with UEFA and looks forward to building this relationship in the years to come,” the London club said.