Former Chelsea star Pat Nevin has disclosed that the west London club could be hit with a points deduction next season.
To avoid this, Nevin claims the Blues must qualify for the Champions League within the next 18 months.
In the last two financial years, the Blues have recorded huge debts, as new owner Todd Beohly splashed out over £1bn on new signings.
But they offset their immediate liabilities by selling Mason Mount and Kai Havertz to Manchester United and Arsenal respectively.
However, Nevin believes that they could follow Everton and Nottingham Forest down a path where on-field penalties are imposed.
He said: “My background is accounts and economics and the financial side of it intrigues me with Chelsea. How are they doing it and where is it working? They didn’t fall foul of FFP this time.
“But I’m seeing Everton get hit and Chelsea is also one of my old clubs – I just hope it’s not happening again.
“Because if you spend that much and you don’t get Champions League football and you amortise contracts over seven or eight years and that doesn’t work… you need that extra cash to make it work.”