The FFP Investigation appeared to have been broken, according to leaked documents, and Premier League CEO Richard Masters has confirmed that the team is “still investigating” the Chelsea case. Following revelations in November, it is believed that the inquiry relates to a series of payments made by the team’s former owner, Roman Abramovich.
After the Guardian and several other international media outlets conducted a joint investigation, documents were found that related to several payments totaling tens of millions of pounds that were made over ten years. It was reported that the payments were “routed through offshore vehicles” owned by Abramovich, who in 2022 sold the team to Todd Boehly.
Speaking alongside EFL chairman Rick Parry at the Culture, Media, and Sport Select Committee, Masters confirmed that Chelsea is still being looked into for the events that happened under Roman Abramovich. Additionally, he disclosed that a hearing regarding Manchester City’s 115 FFP violations has been scheduled, though he was unable to provide an exact date.
“I cannot give you any details on Manchester City apart from that a date has been set,” Masters stated. “However, I am unable to provide you with that date.
As you are aware, Chelsea’s new owners have informed UEFA, the FA, and the Premier League of information regarding the previous ownership. We are currently looking into this. Until the investigations are finished, we won’t make the results public.”
On Monday, the Premier League charged Everton and Nottingham Forest with breaches of the Profitability and Sustainability Rules (PSR), and pending specific penalties, the teams face uncertainty. Everton had already incurred a 10-point deduction in November for a previous PSR violation, underscoring the seriousness with which the league addresses financial regulations to maintain fair competition.
About the most recent accusations, Masters stated, “I don’t think it’s messy.” I must admit, it’s a very serious responsibility. Enforcing the financial rules is not a popular task. The Premier League has never done this before.
In the 2013–14 season, financial regulations were implemented to prevent reckless spending in football, a response to the financial troubles faced by clubs like Portsmouth. These regulations imposed a cap on club expenditures, ensuring a more sustainable financial model and preventing the recurrence of financial crises that plagued the sport in the past.
Filing charges in this manner is an unprecedented step for us. Despite its unpleasant nature, it becomes imperative when considering the well-behaved clubs and their supporters who adhere to the rules. Ultimately, accountability lies with the Premier League and EFL boards, emphasizing the need for fair enforcement to maintain the integrity of the sport and protect the interests of those who comply.
“Because last summer, we revised the regulations to include a quicker procedure. There is a three-year retrospective. In Everton’s case, the ruling was rendered a season or a year after it was discovered that they had violated the rules. We introduced expedited instructions in an attempt to speed up the lengthy process because of how long it is.”
Summary
- Leaked documents suggest financial fair play (FFP) regulations were broken at Chelsea.
- The investigation is based on payments made by former owner Roman Abramovich over ten years.
- The payments were “routed through offshore vehicles” owned by Roman Abramovich.
- Chelsea is still under investigation, with a hearing scheduled for Manchester City’s 115 FFP violations.
- The Premier League has charged Everton and Nottingham Forest for violating their Profitability and Sustainability Rules (PSR).
- Premier League CEO Richard Masters acknowledges the serious responsibility of enforcing these rules, stating it’s a serious responsibility.
- The Premier League board and the EFL board bear responsibility for this case.
- The regulations were revised last summer to include a quicker procedure, with a three-year retrospective.
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