Chelsea are at risk of being banned from Europe after UEFA denied their request to use the sale of their women's team to cut financial losses.
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Chelsea sold women's team for £200mUsed funds to lower financial lossesUEFA have nulled action, leaving Blues in breachFollow GOAL on WhatsApp! 🟢📱WHAT HAPPENED?
The Blues wiggled their way out of breaking financial fair play rules in the Premier League by selling the women's team for £200 million (€235m/$257m) to a sister company, Blueco, restricting their losses and ensuring they received no punishment despite their heavy spending under Todd Boehly. However, UEFA does not count assets sold in this manner and have therefore found Chelsea in breach of their limits.
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As a result, the London club have entered into negotiations with the governing body that, according to The Times will likely see them pay a settlement figure and agree to a spending plan over the next three years. The threat of a ban from European competitions for a season could also be hung over Chelsea's heads if they do not comply with the terms agreed or breach limits again.
DID YOU KNOW?
UEFA say clubs can lose up to a maximum of €200m (£170m) over three years and without the income declared from the sale of the women's team, alongside two hotels, Chelsea have a total three-year loss of £358m.
Imago ImagesWHAT NEXT?
A decision on the sanctions put in place for Chelsea will be revealed in May. However, the Blues have another problem to contend with as UEFA's new regulations will decrease the 80% of agreed revenue on player wages, transfers and agents' fees. That will reduce to 70% next season.
