UEFA officially investigates Chelsea for allegedly falsely reporting profits and violating the Financial Fair Play Rules (FFP)..

The Athletic reported on Sunday that Chelsea was officially investigated by UEFA for allegedly falsely reporting profits and violating the Financial Fair Play Rules (FFP).

According to the report, UEFA has long been suspicious of Chelsea's actual profits and losses due to its continuous spending on signings in the transfer market in recent years. After the Blues announced its 2024 financial report, the suspicion of Chelsea by the Europe's highest football regulating body became more serious.

After an investigation by UEFA's Club Financial Control Body (CFCB), the authorities found that Chelsea's owners, BlueCo, actually used its subsidiaries to acquire the Blues' women's team and two hotels which was owned by the club, and included the "profits" of £200 million and £76.5 million" which they have "earned" in their latest financial report.

Since UEFA has long stipulated that they will not accept any practice of selling assets to subsidiaries and including them as profits in the financial report, the authorities believe that Chelsea's move is suspected of financial fraud.

As one of the punishments, UEFA has decided not to accept Chelsea's inclusion of the two acquisitions completed during the 2022/23 season in its 2024 financial report, and will order BlueCo to submit all financial reports of the Blues since 2020 truthfully.

If the allegations of financial fraud are true, Chelsea may be fined, given a transfer ban of at least 2 years across men's and women's football, a ban from European competitions for at least 2 years, or all three.

Currently, reporters still does not know whether this saga will affect its sister club Strasbourg, which has also performed very well in Ligue 1 this season.

In order to avoid unnecessary trouble, Chelsea's official spokesperson has also refused to respond to reporters, but briefly stated that the club will try its best to cooperate with UEFA's investigation and requirements.

UEFA's official spokesperson said that during the investigation, the authorities will not respond to this matter.

It is worth mentioning that this is the fourth time in the past three years that Chelsea has been controversially suspected of alleged financial violations. Its constant spending to sign and hoard as many wonderkids as possible has long caused fans and reporters to suspect that the club is suspected of using legal loopholes to evade breaching the Profit and Sustainability Rules (PSR).

In the summer of 2023 alone, the Premier League giants have been formally investigated by the Premier League for violating the Financial Fair Play Rules (FFP) by signing former Brazil international winger Willian and former Cameroon legendary international streir Samuel Eto'o from the Russian club Anzhi Makhachkala in 2013 by improper means.

At the same time, the club was also formally complained by Crystal Palace and Liverpool respectively for allegedly illegally approaching and trying to lure and sign Bayern Munich attacking midfielder Michael Olise and Ecuador international defensive midfielder Moises Caicedo.