Chelsea were hit with 74 charges by the Football Association on Thursday after the London club were accused of breaching regulations covering football agents, intermediaries and third-party investment in players spanning more than a decade.

The FA did not elaborate on the charges, but Chelsea said the matters were 'self-reported' by the club after the change in ownership in May 2022.

"The conduct that is the subject of the charges ranges from 2009 to 2022 and primarily relates to events which occurred between the 2010-11 to 2015-16 playing seasons," the FA said in a statement.

At the time, the London club was owned by Roman Abramovich, but the Russian billionaire put Chelsea up for sale in 2022 following sanctions after Russia's invasion of Ukraine.

Abramovich, who bought the club in 2003, completed the sale to an investment group led by Todd Boehly and Clearlake Capital.

"During a thorough due diligence process prior to completion of the purchase, the ownership group became aware of potentially incomplete financial reporting concerning historical transactions and other potential breaches of FA rules," Chelsea said in a statement.

"Immediately upon the completion of the purchase, the club self-reported these matters to all relevant regulators, including the FA.

"The club has demonstrated unprecedented transparency during this process, including by giving comprehensive access to the club's files and historical data.

"We will continue working collaboratively with the FA to conclude this matter as swiftly as possible."

The FA said Chelsea have until September 19 to respond to the charge.

A source at the club told Reuters they had opened their books to the FA so England's soccer governing body can make educated judgements on the historical payments.

The source could not reveal the nature of the charges or the irregular payments as it is an ongoing legal matter but confirmed they were related to the men's team.

Chelsea are also hoping the FA takes their transparency into account if the alleged breaches result in sanctions which could range from fines, points deductions or even transfer bans.

PREVIOUS PUNISHMENTS

FIFA had handed Chelsea a transfer ban in 2019 after they were found guilty of breaching rules regarding 29 overseas players under the age of 18.

In July 2023, European soccer body UEFA had reached a settlement with Chelsea over the submission of incomplete financial information, related to "historical transactions" between 2012-2019.

At the time, the owners said they had proactively reported instances of potentially incomplete financial reporting to UEFA.

Two weeks later, the Premier League said it was investigating potential financial rule breaches at Chelsea under Abramovich's ownership.

The Times reported that the inquiry encompasses multi-million-pound payments to undisclosed offshore entities, with connections to football intermediaries.

In July this year, Chelsea were also fined 31 million euros ($36.31 million) by UEFA for breaches of its financial rules by not complying with the football earnings rule and breaching the squad cost rule.

Chelsea had agreed to a four-year settlement with UEFA to avoid the risk of being hit with a further 60 million euros if they do not get their finances in order.