Chelsea are bracing for a substantial financial penalty from the Football Association, mirroring the record-breaking punishment recently handed down by the Premier League. The anticipated fine relates to historical third-party payments and financial irregularities during the Roman Abramovich era, which were proactively self-reported by the club's current ownership group in 2022.According to The Times, the Football Association (FA) is nearing the end of its investigation into Chelsea's past conduct and is prepared to issue a multi-million-pound fine. This looms after the Blues were hit with a £10.75 million penalty from the Premier League on Monday. This figure stands as the largest fine of its kind in the competition's history. It stems from undisclosed payments made to unregistered agents, players and other third parties between 2011 and 2018, while Abramovich owned the club. The governing body holds the power to deduct points, but a financial penalty remains the most likely outcome.The breaches involve several star players who arrived at Stamford Bridge, including Eden Hazard, Willian, Ramires, David Luiz, Andre Schurrle, Nemanja Matic and Samuel Eto’o. Payments involving former director of football Frank Arnesen and three unidentified players were also scrutinised. The Premier League confirmed: "As a result of the Premier League's investigation, 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." These funds were for the benefit of Chelsea and should have been declared to the football regulatory authorities.Despite the severity of these historical infractions, the club's current hierarchy has received significant credit for their transparency. The BlueCo consortium, led by Todd Boehly and Clearlake Capital, self-reported the inconsistencies immediately upon discovering them during the 2022 takeover process. The Premier League noted that "the club’s proactive self-reporting, admissions of breach and exceptional cooperation throughout the investigation acted as significant mitigating factors." Furthermore, officials were satisfied that even if these payments had been appropriately declared at the time, Chelsea would not have breached the Profitability and Sustainability Rules (PSR) during those specific seasons.Add GOAL.com as a preferred source on Google to see more of our reportingAlongside the £10.75m fine, the Premier League imposed an immediate nine-month restriction on registering academy players who have been registered with other English clubs, plus a £750,000 penalty following a separate academy investigation. Chelsea stated they are "pleased that the matter is now concluded" regarding the league's probe. However, the club is not out of trouble just yet. Last September, the FA announced that the Blues had been hit with 74 charges for breaching regulations. As the FA prepares its final judgement, Chelsea hope their prior cooperation will once again help them avoid any severe sporting sanctions.