The Premier League has handed Chelsea a one-year transfer ban and a fine of £10.75 million after finding the club guilty of breaching financial rules under the ownership of Russian billionaire Roman Abramovich.

However, the transfer ban is suspended for two years, meaning Chelsea would still be able to sign new players, provided they don’t commit further offences during the period.

Chelsea have also been banned from registering new academy players for nine months, with the punishment taking effect immediately. The club’s current owner self-reported the violations in 2022.

The restriction applies only to young players who have previously been affiliated with a club in the Premier League or the English Football League, as well as those applying for their first registration at Under-9 or otherwise.

“The Premier League has concluded two separate disciplinary processes involving Chelsea Football Club, following the club voluntarily self-reporting potential historical breaches of rules,” the league said in a statement on Monday.

It added, “Two sanction agreements have been ratified by an independent commission under which Chelsea FC has accepted fines totalling £10.75 million for breaches of the Premier League’s rules relating to financial reporting, third-party investment, and youth development.

“The club has been sanctioned by the Premier League with an immediate nine-month academy transfer ban and a suspended one-year first-team player transfer ban (suspended for two years).”

The league said the breaches, which occurred between 2011 and 2018, included undisclosed payments by third parties associated with the club to players, unregistered agents, and other third parties.

“These payments were not disclosed to the football regulatory authorities at the time, including the Premier League. The payments were made for the benefit of Chelsea FC and should have been treated as having been made by the club,” the league added.