Chelsea Football Club, formerly owned by Russian billionaire Roman Abramovich, is to pay a settlement of 10 million euros to UEFA. The settlement comes after UEFA raised concerns about potentially incomplete financial reporting between 2012 and 2019, during the club’s previous ownership.

The issue came to light in May of the previous year when Chelsea’s current American-led ownership group discovered discrepancies in the financial information submitted to UEFA. Consequently, the club faced repercussions as it did not qualify for upcoming editions of European competitions despite their previous triumphs in the Champions League in both 2012 and 2021.

In a statement, Chelsea expressed its commitment to full compliance and transparency with regulatory authorities. The club’s ownership group acknowledged the importance of resolving the matter promptly and proactively disclosed the information to UEFA, leading to a swift settlement agreement.

“Chelsea greatly values its relationship with UEFA and looks forward to building on that relationship in the years to come,” the statement read.

This resolution marks a crucial step for the club, demonstrating their dedication to adhering to regulatory standards and paving the way for a positive future in European competitions.