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Uncovering Chelsea’s Shocking Financial Secrets: The Major Issue Behind Their Historic Discrepancies!
In long meetings at the top of the FA and Premier League about the Chelsea breaches of agent regulations, there was one issue that caused the most debate, and could still affect outcomes. That is how much a current ownership should bear the weight of a previous ownership.
It may well set a significant precedent in football, given how legally complex the sport is becoming in what is definitively now the era of the owner.
Sources state that the prevailing view within legal teams is that all of this must be put in context of how the previous regime, of Roman Abramovich, bears all the blame, and it was self-reported by Clearlake. That is why there is an expectation that it will end with financial sanctions.
That view was not unanimous, though, and it is tempered by the fact that there were other clubs on the other side of this. They missed out on signings and trophies, no matter who the owner was.
Many executives at Chelsea’s rivals remain aggravated – in some cases furious – by the situation. They feel Uefa’s £8.6m settlement in July 2023 was too light, and are impatient about the lack of resolution in the parallel Premier League investigation. The latter, like the Manchester City case, is taking its time.
Chelsea, for their part, would themselves acknowledge it’s the same club – even if different owners – which was the entire point of self-reporting. There have been references to “the sins of the father”.
They still do not expect a sporting sanction, like a points deduction or transfer ban. The ownership also believe that that would be hugely unfair, since it would essentially be punishing the wrong people: the fans, the current squad, and the current hierarchy.
The new ownership cannot be blamed for this, and believe they have done everything absolutely right, in what is really an “unprecedented situation”.
That is nevertheless where there remains some intrigue. Well-placed sources maintain that the FA had been trying to agree on a negotiated outcome for months, which would have amounted to the large fine that everyone expects. Discussions even got to the point where some on the board were lobbying for more stringent sanctions, but the majority felt any fine had to be “serious”.
That is why it has surprised some close to the process that it has actually led to charges, rather than a settlement.
Against that, Chelsea sources say their internal expectation was that this was headed for charges. Hence, the line in the club’s statement about being “pleased” with where they’ve got to. The breaches were self-reported the moment Chelsea was purchased, and they have stressed a “super collaborative” approach with football’s authorities, where every file has been passed over.
One quip that has been made is that this approach is very different to City’s.
The case is actually a mirror image of what City are accused of in the “Premier League’s big one”, if on a smaller scale. City insist on their innocence.
Whereas that case is about the accusations of overstatement of income, Chelsea’s is about understatement of expenses, with the net effect alleged to be the same. Undeclared payments kept Chelsea within Financial Fair Play (FFP) limits, and also meant the filing of inaccurate documents. The latter would represent fraud.
All of this similarly facilitated deals that allowed Chelsea to compete at a higher level. The Premier League’s investigation is expected to deal with potential FFP breaches, whereas the FA’s was about agent regulations.
Questions have already been asked as to why the Premier League are “dragging their feet” compared to the FA.
Eden Hazard, whose 2012 transfer was probably the most high-profile investigated, had been widely expected to go to Manchester United that summer. Sir Alex Ferguson was even involved in a tour of Lille’s facilities. United had agreed a transfer fee with the club and personal terms, but The Times recently reported that the deal broke down when Hazard’s agent, John Bico, demanded a payment of £1m from the club and several million more from the owners. He was notified that United absolutely would not agree to such an agreement, given it would have represented a clear breach of rules. There is no suggestion Hazard himself was aware or involved in any wrongdoing. Bico is now facing unconnected charges of financial crime in Belgium.
It has since been alleged that an offshore company belonging to Abramovich made a £6m payment to Bico via a Dubai company.
Such an example explains some of the persistent anger at rivals. Hazard was the key player in two Premier League title wins, in 2014-15 and 2016-17.
Other executives are already referencing how, in 2008, Luton Town received a 10-point deduction for irregular payments to agents.
Chelsea would again point to the fact that they have self-reported. There’s even a belief they are setting a standard in that regard, especially ahead of the introduction of a new independent regulator.
Chelsea consequently expect a fine, but an independent regulatory commission will ultimately decide.
The charges mean that that stage of the process now starts. Chelsea believe, and hope, this is all closer to the end.
SPORTS
South Africa’s Stunning Comeback: First World Cup Qualifying in 16 Years! Can Nigeria Snatch a Last-Minute Playoff Chance?
South Africa have qualified for their first World Cup since hosting the tournament 16 years ago, although they had Nigeria partially to thank for their progress.
South Africa beat Rwanda 3-0 in Nelspruit to finish first in Group C as Benin, who had a two-point lead going into the final round of fixtures, tumbled from top place to third in the standings after being thumped 4-0 by Nigeria in Uyo.
Victor Osimhen grabbed a hat-trick to keep Nigeria’s hopes alive as they seek to advance to a playoff next month for the four best runners-up from the nine African qualifying groups.
South Africa finished on 18 points, with Nigeria runners-up ahead of Benin on goal difference as both ended with 17 points.
South Africa had three points deducted last month after being found guilty of fielding a suspended player in an earlier qualifier in March, a mistake they admitted.
But that will be largely forgotten now as South Africa qualified for the first time since they hosted the finals in 2010.
Thalente Mbatha scored after five minutes, and Oswin Appollis netted the second in the 21st minute to put South Africa on their way. Striker Evidence Makgopa made it 3-0 in the 72nd minute with a header from a corner.
For Nigeria, Osimhen opened his account in the third minute from Samuel Chukwueze’s through pass and the same player then crossed for the striker to head home a second in the 37th minute.
He completed his hat-trick soon after halftime, heading home a chipped pass from Moses Simon, but the best goal was the last — thrashed in on the volley by Frank Onyeka.
Algeria secured qualification last week and were hoping to celebrate in front of their fans in Tizi Ouzou on Tuesday, but made heavy weather of it and needed two late penalties from Mohammed Amoura to beat Uganda 2-1.
Amoura went top of the scoring charts in the African qualifiers with 10 goals as Algeria finished their Group G campaign with 25 points.
They handed a debut in goal to Luca Zidane, the son of France World Cup winner Zinedine Zidane, but he was beaten after six minutes as Steven Mukwala gave Uganda a shock lead.
Reuters
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Wales Sensation Jess Fishlock Shocks Fans with Surprise International Retirement: What This Means for the Future!
