The Premier League’s investigation into Chelsea’s financial dealings during Roman Abramovich’s ownership is drawing to its conclusion amid a growing a feeling they are set to receive a transfer ban. The Blues’ current owners BlueCo are not at fault but they reported findings from the Abramovich era that led to an investigation.
Premier League CEO Richard Masters gave an update on the investigation and admitted it was a difficult situation given the circumstances. He told talkSPORT:
“What we’re talking about is something historic. It’s complicated where we have the club talking to us about things that have happened under a previous ownership. All I can say is that the investigation is reaching a conclusion. But until it has done so, I can’t really say what is going to happen next.“
Abramovich’s ownership is accused of using offshore companies to make transactions for transfers to Chelsea. Todd Boehly’s co-ownership reported the issues to the governing bodies after leaked documents showed that the Russian billionaire had paid tens of millions to agents and associates that weren’t declared to the Premier League.
The former governor of Chukotka was forced to sell the club in 2022 because of his links with Russian President Vladimir Putin. He acquired the west London giants in 2003 and oversaw their most successful period before the UK government imposed sanctions on him because of the war in Ukraine. This led to the club’s sale, with Boehly’s ownership taking over.
Todd Boehly’s heavy spending will be halted if Chelsea are found guilty
Chelsea have undergone several rebuilds since Boehly took over in May 2022, acquiring 35 permanent players, spending over £1 billion and upwards of £185 million this summer. 12 new signings arrived at Stamford Bridge this summer thus far, and more could come through the door before the transfer window closes on September 1.
This may explain why Boehly has been so quick to buy such a large pool of players, emphasizing youth and handing out long-term contracts. If the club is found guilty, they may not be able to make signings for a significant period, although there has been no word on what action will be taken by the Premier League.