Following a takeover by a consortium led by Todd Boehly and Clearlake Capital, Chelsea said the breaches were self-reported during due diligence conducted before the sale. The new ownership stated they had shown “unprecedented transparency” and are cooperating fully with the FA.

Read Also: Chelsea sign 17-year-old Brazilian defender from Corinthians

The club had previously agreed to pay €10 million to UEFA after admitting to similar financial reporting issues under the Abramovich regime.

Abramovich was later sanctioned by the UK government over his ties to Russia. Proceeds from the sale of the club remain frozen, with the government and Abramovich at odds over how the funds should be used.

Source: Channels