By Achile Danjuma
Chelsea Football Club has been fined £10.75 million ($14.27 million) and handed a suspended one-year transfer ban by the Premier League for historical financial breaches.
The league announced the sanctions on Monday, which also include an immediate nine-month ban on registering academy players.
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The penalties stem from disclosures made voluntarily by the club’s new ownership group, led by American businessman Todd Boehly.
Following their £4.25 billion takeover in 2022, the consortium reported incomplete financial information related to the previous era of owner Roman Abramovich to Premier League officials.