INSUBCONTINENT EXCLUSIVE:
Cyprus has long drawn criticism for providing offshore financial services for people associated with corrupt regimes and businesses
A new series of investigations by the International Consortium of Investigative Journalists, along with 68 media partners, has exposed the
payments of tens of millions of dollars routed through offshore organizations apparently connected to former owner Roman Abramovich
Four lawyers told The Guardian that the payments would have broken the financial rules of the Premier League and UEFA, which determine how
Why does Ambramovich matter?After amassing a fortune in the 1990s, Roman Abramovich bought Chelsea in 2003 for a reported 140 million pounds
He bankrolled the club with huge amounts of money, buying star players and making it one of the most successful clubs in British
football.That period came to an end in 2022 when Abramovich was sanctioned by the British government over his alleged ties to Putin in the
He was forced to sell the football club as a result.Which payments are under scrutiny?Documents reveal that over the course of a decade,
companies owned by Abramovich in tax havens like the British Virgin Islands transferred tens of millions of dollars which went undeclared in
received 7 million euros ($7.8 million)
Vladica Lemi? was reportedly pivotal in signing players like Arjen Robben and Branislav Ivanovi? as well as the Italian coach Carlo
Ancelotti, under whose managership Chelsea won both the Premier League and FA Cup.Other payments included 7 million euros to the Dubai-based
consequences?Chelsea has already been fined 8.6 million pounds ($10 million) by UEFA for breaches of Financial Fair Play rules that took
However, they only have the power to investigate alleged breaches within the past three years.Financial Fair Play rules determine how much
clubs can spend according to their earnings
thousand pounds ($164.5 million) to a lawyer challenging these restrictions.The Football Association told The Guardian that it is also
