July 8 – Chelsea FC have spent millions in the transfer window, and now the Blues have gone and set the new standard for financial misbehaviour – becoming the first club to be fined €31 million in a single season for breaking UEFA’s financial rules.
Barcelona, never ones to be left out of financial mischief, also got their knuckles rapped to the tune of €15 million.
This isn’t exactly virgin territory for either club. Chelsea have been down this road before, coughing up €10 million in 2023 for “irregularities” committed during Roman Abramovich’s free-spending reign, while Barcelona’s previous brush with UEFA’s financial police saw them pay €500,000 in 2023 for “misrepresenting income.”
The Blues’ record-breaking fine breaks down into €20 million for failing to break even and another €11 million for spending more than 80% of their revenue on “squad costs” – UEFA’s polite way of saying “you’ve gone on a spending spree in the transfer market and burned through all the credit cards.”
Chelsea’s response toed the political line: “The club has worked closely and transparently with UEFA to provide a full and detailed breakdown of its financial reporting, which indicates that the financial performance of the club is on a strong upward trajectory.”
They added: “Chelsea FC greatly values its relationship with UEFA and considered it important to bring this matter to a swift conclusion by entering into a settlement agreement.”
The investigation centred on the controversial £76.5 million sale of two hotels by one company in the Chelsea structure to another. Since Todd Boehly and Clearlake Capital took over in 2022, the Blues have spent more than any club in the world on transfers, stockpiling talent on lengthy contracts.
Other clubs got their own expensive lessons in financial reality including Aston Villa (€11 million), and Lyon (€12.5 million) – but none quite matched Chelsea’s record-breaking fine, although the club will be hoping a windfall from the FIFA Club World Cup improves their financial picture.
Contact the writer of this story, Nick Webster, at moc.l1751967930labto1751967930ofdlr1751967930owedi1751967930sni@o1751967930fni1751967930