Chelsea FC has reacted to the heavy sanction incurred by the European football body, UEFA, by the past administration.

Following the confirmation that Chelsea had been fined 8.6 million pounds for the Financial Fair Play (FFP) breach, the former UEFA Champions League winners have released an official statement to this effect.

The statement read, “Chelsea FC’s ownership group completed its purchase of the club on 30 May 2022. During a thorough due diligence process prior to the completion of the purchase, the ownership group became aware of potentially incomplete financial reporting concerning historical transactions during the club’s previous ownership. Immediately following the completion of the purchase, Chelsea self-reported these matters to UEFA. Chelsea has fully cooperated and assisted UEFA with its investigation of these matters, and following an analysis by the UEFA Club Financial Control Body, the club has entered into a settlement agreement with UEFA. Under that settlement, the club is to pay a financial contribution of €10 million to UEFA as a fixed payment. In accordance with the club’s ownership group’s core principles of full compliance and transparency with its regulators, we are grateful that this case has been concluded by proactive disclosure of information to UEFA and a settlement that fully resolves the reported matters. We wish to place on record our gratitude to UEFA for its consideration of this matter. Chelsea greatly values its relationship with UEFA and looks forward to building on that relationship in the years to come.”

Read the Latest Sport Trends and Get Fresh updates as they drop via Twitter and Facebook
The post Chelsea FC React To UEFA’s Heavy Sanction appeared first on ovideos.ng.