Chelsea has reached an agreement with UEFA to pay 10 million euros (£8.57 million) after admitting to “incomplete financial reporting” during the Roman Abramovich era.
In May of the previous year, a new ownership group, led by Todd Boehly and Clearlake Capital, completed the takeover of the club from Abramovich.
The former owner faced sanctions due to his connections with Russia’s President Vladimir Putin.
The Boehly-led consortium proactively approached UEFA after taking over, and during their review, instances of partial financial information in historical transactions between 2012 and 2019 were detected.
These actions breached UEFA Club Licensing and Financial Fair Play regulations.
Additionally, Juventus has been banned from participating in the Europa Conference League this season due to financial irregularities.
A UEFA statement said: “Following its assessment, including the applicable statute of limitations, the CFCB (Club Financial Control Body) First Chamber entered into a settlement agreement with the club which has agreed to pay a financial contribution of 10million euros to fully resolve the reported matters.”