European football governing body UEFA has fined Chelsea Football Club €31 million (£27 million) and €60 million conditionally for breaching its financial rules (h/t Martyn Ziegler).
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Chelsea have spent over £1.2 billion over the past three years, stacking and hoarding talent from across the globe.
The Blues escaped troubles in the Premier League after identifying and capitalising on a loophole in the Profitability and Sustainability Rules (PSR).
Premier League rivals like Everton and Nottingham Forest received point deductions.
However, Chelsea reportedly sold Stamford Bridge hotels and the women’s team to their parent company, BlueCo, avoiding any sanctions.
Interestingly, Aston Villa also joined Chelsea, using the accounting move to avoid issues with the Premier League, but they could not escape UEFA.
UEFA slapped the Villains with a €11 million (£9.5 million) and €15 million conditional. Both clubs agreed to settlements.
Other giants like Barcelona are also in the same boat. The La Liga champions will also pay a massive fine for falling short.
However, while the fines to Chelsea and other clubs send a message, they do not go far enough, especially in the case of the West Londoners.
A €31 million fine, plus a conditional €60 million, feels like a slap on the wrist for a club that has already spent over £140 million this summer alone.
That is on top of the staggering £1.2 billion spree they have embarked on since the Todd Boehly-Clearlake Consortium takeover.
These are not the actions of a club trying to stay within limits. They are the signs of one deliberately gaming the system.
Chelsea have flagrantly made a mockery of the rules, using creative accounting and internal asset sales to dodge sanctions in England, even as rivals were docked points for far smaller infractions.
If UEFA and the Premier League want to preserve credibility, they must hit clubs like Chelsea harder. A symbolic fine will not curb reckless spending.
Only heavy penalties, bans, or meaningful sporting sanctions can send a message that no club is above the law. Until then, Chelsea and others will keep bending the rules.
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