JUST IN: Chelsea hit with suspended one-year transfer ban

Chelsea have been fined £10.75 million ($14.27 million) and handed a suspended one-year transfer ban after being found in breach of Premier League financial regulations.

The Premier League also imposed an immediate nine-month ban on the club from registering academy players, adding further sanctions over the violations.

According to the league, the penalties stem from historical breaches that were disclosed after the club’s ownership changed hands in 2022. The consortium led by American businessman Todd Boehly provided the information during its review of the club’s operations following the takeover from former owner Roman Abramovich.

The league said the disciplinary action relates to financial matters tied to the previous administration. Chelsea accepted the findings and the sanctions imposed by the Premier League.