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Chelsea announce belated profit

9 November 2012 18:30

Chelsea have announced a profit of 1.75 million euros for the 2011/12 financial year, the club's best result under Roman Abramovich.

The declaration marks the first time the Blues have made a profit since Russian billionaire Abramovich bought the club in 2003.

And the club also announced a record group turnover of 319.8 million euros, putting the Stamford Bridge outfit into fifth in Europe in terms of generated revenue.

Chelsea's profits are a significant improvement on their 84.9-million-euro loss for the previous financial year.

The figures do not include the lavish investment spent on the likes of new recruits Eden Hazard and Oscar, as the money was spent in the new financial year.

Chelsea's successful financial year was largely attributable to the increased revenue gained from their Champions League win in May.

In addition, the club were able to secure numerous commercial deals off the pitch and the overall impact has delighted chief executive Ron Gourlay.

Gourlay said: "Our club philosophy is built on success. We had that success on the field this year, as we were the first London team to win the Champions League, and we enjoyed it off the field as well and this helps us inject financial investment into the team.

"The big challenge is always to have a successful team on the field that wins trophies and to make a profit at the same time.

"The objectives have been set across the whole business, from the academy to under-21s and all the way through to the first team."

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Premier League table

# Team MP D P
1 3 +7 9
2 3 +5 9
3 3 +2 7
4 3 +3 6
5 3 +2 6

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