English Premier League News – Chelsea has announced a profit of £1.4million for the last year – the first time the club has finished in the black in the Roman Abramovich era.
Success in the Champions League plus a profit in the transfer market has seen the club overturn a bleak financial record which saw them return a loss of £67.7m the previous year.
Club chairman Bruce Buck said: “We will never forget that night in Munich and now we are celebrating serious progress off the field too.
“While we draw huge satisfaction from the achievements of the past 12 months we are more than ever focused on continuing the story of on-field success supported by improving financial performance off the pitch.”
The results will be a huge boost to the club’s efforts to comply with UEFA’s new financial fair play regulations, which will oblige clubs in European competition to break even.
The club also had record group turnover of £255.7million, up from £225.6million.
A Chelsea statement said: “The £1.4m profit contrasts with a loss of £67.7m in the previous financial year and puts the club in a strong position to comply with UEFA financial fair play criteria for the coming seasons.
“The club also enjoyed an uplift in revenues from commercial activities including new partners and merchandising.”
The statement added that debt of £166.6m was turned into equity during the course of the year “making Chelsea FC plc debt free”.
EPL Weekend Schedule
Saturday, November 10, 2012
10:00 AM ET
Arsenal
vs
Fulham
Emirates Stadium
10:00 AM ET
Everton
vs
Sunderland
Goodison Park
10:00 AM ET
Southampton
vs
Swansea City
St. Mary’s Stadium
10:00 AM ET
Wigan Athletic
vs
West Brom
DW Stadium
10:00 AM ET
Reading
vs
Norwich City
Madejski Stadium
10:00 AM ET
Stoke City
vs
Queens Park Rangers
Britannia Stadium
12:30 PM ET
Aston Villa
vs
Manchester United
Villa Park
Sunday, November 11, 2012
8:30 AM ET
Manchester City
vs
Tottenham Hotspur
Etihad Stadium
10:00 AM ET
Newcastle
vs
West Ham United
St. James’ Park
11:00 AM ET
Chelsea
vs
Liverpool
Stamford Bridge
