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Chelsea have been fined £10.75million and handed an immediate nine-month academy transfer ban after breaking Premier League rules.

The academy ban will restrict them from registering youth players from Premier League or English Football League clubs, for historical financial reporting and third-party investment breaches. The Blues have also been handed a one-year first-team transfer ban, suspended for two years.

The Premier League concluded two separate disciplinary processes after it was established that between 2011 and 2018, undisclosed payments by third parties associated with the club were made to players, unregistered agents and other third parties.

Payments were not disclosed to the football authorities, including the Premier League, and the issue was flagged when the current Chelsea owners voluntarily reported potential breaches of top-flight rules in 2022.

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The Premier League confirmed that they and Chelsea have entered a sanction agreement which will see the club fined £10million and slapped with a one-year first-team transfer ban, suspended for two years.

The Blues have also accepted an immediate nine-month ban on academy transfers after an additional investigation, where they have been fined £750,000.

As a result of the sanction, Chelsea cannot register academy players signed from clubs within the Premier League or Football League from under-9s upwards, but it doesn't apply to contract renewals or overseas players.

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It has been confirmed that the Football Association (FA) are conducting a separate disciplinary investigation into alleged breaches.

Chelsea were fined £8.6millon by UEFA in 2022 after reporting the historical breaches, resulting the CFCB First Chamber entering into a settlement agreement with the club.

With the club self-reporting the issue, the Premier League board are said to have noted that, plus the admissions of the breach and cooperation, as significant mitigating factors.

In a statement released by Chelsea, the club said: "Chelsea Football Club is pleased to confirm that the club has reached a settlement with the Premier League in relation to historical regulatory matters that were self-reported by the club in 2022.

"As previously announced, the club voluntarily and proactively disclosed to all applicable regulators potential historical rule breaches, including incomplete financial reporting that took place over a decade ago.

"During an extensive Premier League investigation, the club proactively disclosed many thousands of documents. Also, when requests for information were made by the Premier League, the club promptly provided comprehensive responses and facilitated all lines of inquiry to support a complex and extremely thorough process.

"Furthermore, during the investigation, additional evidence was provided to the club by a third party regarding potential breaches of Premier League rules committed by a former employee in a small number of historical academy transactions. This information was immediately and proactively self-reported to the Premier League.

"The club wishes to make clear that following robust financial analysis by the Premier League, it was concluded that “in no scenario would the club have exceeded the maximum allowable loss of £105 million over the three-year assessment period in the Rules.”

"Accordingly there is no scenario in which the club could have been in breach of the applicable limits in the Premier League’s Profitability and Sustainability Rules during the applicable seasons historically.

"From the outset of this process, the club has treated these matters with the utmost seriousness, providing full cooperation to all relevant regulators. The club welcomes the recognition from the Premier League of its “exceptional cooperation” and that 'without those voluntary disclosures and the act of self-reporting, a number of the Premier League rule breaches may never have come to the attention of the League'.

"The club accepts the terms of the settlement in full, details of which have been published on the Premier League website. For clarity, the nine-month restriction on registering Academy players applies immediately, but only to Academy players who have previously been registered with another League or EFL club in the preceding 18 months.

"It does not apply to current Chelsea players, international players or players who are applying for their first registration at Under 9. We are pleased that the matter is now concluded."