this post was submitted on 15 Nov 2023
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[–] [email protected] 1 points 10 months ago (25 children)

Chelsea FC face fresh questions over how its former owner Roman Abramovich funded the club’s success, after leaked files revealed a string of secret payments that may have breached strict football rules, including those on “financial fair play”.

Experts said the transactions, uncovered through a joint investigation by the Guardian and international partners, could lead to the Premier League imposing punishments on Chelsea, such as a deduction of points.

The files reveal a series of payments worth tens of millions of pounds over a decade, routed through offshore vehicles belonging to Abramovich. The transactions in question appear to have been for Chelsea’s benefit, raising questions about whether they were declared in accounts submitted to football’s governing bodies.

[–] [email protected] 1 points 10 months ago (7 children)

Sad for the new owners since nobody from the Roman era is still there but I guess they didn't do the necessary due diligence.

[–] [email protected] 1 points 10 months ago (4 children)

Actually, it is due to Boehly this is known. After they took over, he found these transaction and reported them.

[–] [email protected] 1 points 10 months ago

This is separate to the ones Boehly reported. These new transactions became known due journalists investigating dodgy dealings between Cypriot companies and Russians.

[–] [email protected] 1 points 10 months ago

The hero we need but not the 1 we deserve.

[–] [email protected] 1 points 10 months ago (1 children)

Isn't due diligence usually done in advance of a buy? Seems kind of reckless.

[–] [email protected] 1 points 10 months ago

Generally yes, but this sale was fast tracked, so it wasn't completely done and they kept 100m from the sale amount, anticipating these fines because of poorly kept books.

[–] [email protected] 1 points 10 months ago

Wrong. This information is due to insider leaks from a Cypriot bank/company. You can read about this story and others from the excellent OCCRP reporting.

https://www.occrp.org/en/cyprus-confidential/

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