Chelsea have been handed a Premier League record fine of £10.75m and a suspended transfer ban.
It was a result of the club making secret payments to unregistered agents and third-parties over transfers between 2011 and 2018.
But it could have been a lot worse. Only a frank admission of guilt and full co-operation avoided a larger fine – and a potential points penalty.
The Premier League published a 28-page document highlighting all the wrongdoings – how much money was paid out, by who, and for which transfer deals.
This is what the written reasons tell us.
What did Chelsea do wrong?
Chelsea made 36 separate payments totalling £47.5m to 12 individuals or corporate entities.
They were made via a series of third-parties, which were primarily registered in the British Virgin Islands.
The payments either completed the signings of players and/or acquired transfer options without the payments appearing on the club’s accounts.
It was found that they were “obvious and deliberate breaches” which also “involved deception and concealment in relation to financial matters”.
Former Chelsea owner Roman Abramovich was implicated.
The payments happened “with the knowledge and approval of certain senior former officers and/or Directors” and using funds “controlled by or associated with the former owner”.
