Chelsea, emblematic of the elite of English football, finds itself at a challenging crossroads during the 2023-24 Premier League season. With only 16 points and located in tenth position in the table, poor results have clouded their performance on the field of play. However, the crisis is not limited to the sporting sphere, as the club now faces accusations of financial irregularities during the era of Roman Abramovich, its former president. Such a situation could lead to the loss of points for the Stamford Bridge team.
An investigation of Guardian reveals payments made through tax havens that would not have been reflected in the club’s accounts, linked to notable signings such as Samuel Eto’o and Willian, as well as strategic renewals of figures such as Eden Hazard and Antonio Conte. These payments, classified as Operation Cyprus, amount to tens of millions of pounds over a decade, allegedly breaking financial fair play.
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The Premier League and the English federation (FA) are immersed in investigations, while UEFA has imposed a fine of 10 million euros on Chelsea after admitting the lack of certain financial information during Abramovich’s tenure. Among the irregularities, a payment from Conibair Holdings to Federico Pastorello in 2017 stands out.
Additionally, it is revealed that between 2005 and 2017 payments were made to companies linked to Zotan and Vladica Lemic, Abramovich’s key advisors, as well as financial agreements in 2013 related to Anzhi Makhachkala, a Russian team that sold Samuel Eto’o and Willian to Chelsea.
Chelsea defends itself
This last case had already been investigated by the Premier for weeks and Chelsea published a statement at the time to distance itself from the accusations and emphasize that it occurred when Abramovich was owner of the club.
“These accusations predate the current ownership. They are based on documents that the club has not seen and that do not relate to anyone present at the club. At the time of purchase, the new owners became aware of possible incomplete financial information from the previous ownership and reported it to the relevant regulators.”
How did Chelsea fare with Abramovich as president?
Abramovich owned Chelsea from when he bought it for £140 million in 2003 until he had to get rid of it in 2022 due to its connections with Russia. During his time at Stamford Bridge, Chelsea won 18 major titles, including five Premier Leagues, two Champions Leagues, two Europa Leagues, two European Super Cups, five FA Cups and three League Cups.
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