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Chelsea fined N850m, Juventus kicked from European competition by UEFA
Chelsea have agreed a resolution with European football governing body UEFA that will see them hand over 10 million euros (about 11 million dollars or N850 million).
This was after the English clubside owned up to “incomplete financial reporting” under the Roman Abramovich regime.
A new ownership group led by Todd Boehly and Clearlake Capital completed their take-over of the club in May last year from Abramovich.
The Russian was sanctioned over his links to Russia president Vladimir Putin.
UEFA, which has also banned Juventus from competing in the Europa Conference League this season due to financial irregularities, confirmed it was approached “proactively” by the Boehly-led consortium.
They detected instances of partial financial information being submitted in historical transactions occurring between 2012 and 2019, breaching UEFA Club Licensing and Financial Fair Play regulations.
A UEFA statement said: “Following its assessment, including the applicable statute of limitations, the CFCB (Club Financial Control Body) First Chamber entered into a settlement agreement with the club.
”It has agreed to pay a financial contribution of 10 million euros to fully resolve the reported matters.”
The sanction represents another blow for Chelsea’s current owners after a disappointing first year at the helm.
The club’s 12th-place finish in the Premier League last term their worst since 1993/1994.
Chelsea have forked out around 600 million pounds (770 million dollars) in transfers since Boehly’s arrival.
Also, former Tottenham manager Mauricio Pochettino has been tasked with turning around their on-pitch fortunes.
Chelsea said in a statement the owners became aware of potential impropriety when carrying out a “thorough due diligence process” prior to the purchase.
It said upon completion of the take-over, they reported this to UEFA.
The statement added: “In accordance with the club’s ownership group’s core principles of full compliance and transparency with its regulators, we are grateful that this case has been concluded by proactive disclosure of information to UEFA and a settlement that fully resolves the reported matters.
“We wish to place on record our gratitude to UEFA for its consideration of this matter.
“Chelsea greatly values its relationship with UEFA and looks forward to building on that relationship in the years to come.”
Juventus have also been reprimanded after a separate UEFA investigation and as well as throwing the Italian giants out of European football, they have been fined 20 million euros.
However, half of that fine has been suspended and Juventus will only have to pay if their financial records for the next three years do not comply with the accounting requirements.
Juventus were docked 10 points last season over their past transfer dealings, effectively ending their hopes of UEFA Champions League qualification.
They were found to have violated the framework of a settlement agreement with UEFA in August last year.
Juventus president Gianluca Ferrero said in a statement on the club’s website: “We regret the decision of the UEFA Club Financial Control Body.
“We do not share the interpretation that has been given of our defence and we remain firmly convinced of the legitimacy of our actions and the validity of our arguments.
“However, we have decided not to appeal this judgment. In spite of this painful decision, we can now face the new season by focusing on the field and not on the courts.”
The Minister of Justice, Lateef Fagbemi, SAN has warned against obstructing the Economic and Financial Crimes Commission (EFCC) from carrying out its lawful duty .
Fagbemi’s warning is contained in a statement in Abuja.
“This is a matter of very grave concern, it is now beyond doubt that the EFCC is given power by the law to invite any person of interest to interact with them in the course of their investigations into any matter, regardless of status.
“Therefore, the least that we can all do when invited, is not to put any obstruction in the way of EFCC, but to honourably answer their invitation.
“A situation where public officials who are themselves subject of protection by law enforcement agents will set up a stratagem of obstruction to the civil and commendable efforts of the EFCC to perform its duty is to say the least, insufferably disquieting’’.
He added that running away from the law will not resolve issues at stake but only exacerbate them.
“Nigeria has a vibrant judicial system that is capable of protecting everyone who follows the rule of law in seeking protection.
“I therefore encourage anyone who has been invited by the EFCC or any other agency to immediately toe the path of decency and civility by honouring such invitation instead of embarking on a temporising self-help and escapism.
“This can only put our country in bad light before the rest of the world’’.
He said institutions of state should be allowed to function effectively and efficiently.
“I stand for the rule of law and will promptly call EFCC, and indeed any other agency to order when there is an indication of any transgressions of the fundamental rights of any Nigerian by any of the agencies’’.
NAN reports that the EFCC had on Wednesday warned members of the public that it was a criminal offence to obstruct officers of the Commission from carrying out their lawful duties.
Section 38(2)(a(b) of the EFCC Establishment Act makes it an offence to prevent officers of the Commission from carrying out their lawful duties. Culprits risk a jail term of not less than five years.
The warning , the EFCC said, became necessary against the background of the increasing tendency by persons and groups under investigation by the Commission to take the laws into their hands by recruiting thugs to obstruct lawful operations of the EFCC.
On several occasions, the anti graft agency said, operatives of the Commission have had to exercise utmost restraint in the face of such provocation to avoid a breakdown of law and order.
Some unknown gunmen have kidnapped Joshua Rogers, the ChannelsTV reporter in Port-Harcourt, the Rivers State capital.
Politics Nigeria learnt that Rogers was picked up close to his residence at Rumuosi in Port Harcourt and to an unknown destination by the gunmen around 9pm on Thursday, April 11.
The reporter was driving his official ChannelsTV branded car when the hoodlums accosted, pointed a gun at him and took him away in the same vehicle.
Rogers was said to be returning from his official assignment in Government House after a trip to Andoni for a government event when the incident happened.
Already, the gunmen were said to have contacted his wife and demanded a N30million ransom for bis release.
His cameraman confirmed the incident and appealed to his abductors to set him free unconditionally.
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