How Chelsea signed a star team with hidden payments

"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"."

"The biggest payment, 23m, accounts for almost half the total. The money was paid to seven unregistered agents (or entities associated with them) to sign players including Eden Hazard (Lille), Ramires (Benfica), David Luiz (Benfica), Andre Schurrle (Bayer Leverkusen) and Nemanja Matic (Benfica)."

Chelsea was penalized with a record £10.75m fine and a suspended transfer ban for systematic breaches involving secret payments to unregistered agents and third-parties from 2011 to 2018. The club made 36 separate payments totalling £47.5m through entities primarily registered in the British Virgin Islands to conceal transfer costs from official accounts. These payments facilitated player signings including Eden Hazard, Ramires, David Luiz, and others, with the largest single payment of £23m accounting for nearly half the total. The Premier League determined these were deliberate breaches involving deception and concealment, with knowledge and approval from senior officers and former owner Roman Abramovich. The club avoided a larger fine and potential points penalty through admitting guilt and full cooperation.

Read at www.bbc.com