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  • Soccerex 2017

Chelsea in the black as they record first year of profit under Roman Abramovich's ownership

 

You could be forgiven for being surprised to hear that Chelsea recorded their first year of profit since billionaire Roman Abramovich took over the club, after all he is a billionaire. 

Yet it has taken nearly a decade for the club to make a profit under the Russian's control, who has supposedly spent over 1 billion pounds on the club, and the report released by the club shows they have solidified their position as on of Europe's highest earning clubs.

The club announced up to the 30th of June 2012 a profit of 1.4 million pounds for the year, compared to a loss of 67.7 million last year.

The clubs overall turnover reached a record high of 255.7 million, up more than 30 million on the previous year. This makes them the fifth highest club in Eurpoe in terms of revenue, behind Premier League rivals Manchester United, Spanish pair Real madrid and Barcelona, and German giants Bayern Munich.

The club's success in the Champions League has unsurprisingly helped the cause, but the club also cited that player transfers contributed 28 million pounds, which considering the club's notorious spending on player transfers, may be a little surprising to some.

And the report also misses the summer transfers for this season, with the arrivals of Edin Hazard, Oscar, and Victor Moses amongst other reported to have cost 70 million in total.

The club however also went about offloading several of their biggest earners, with Jose Bosingwa and Salomon Kalou being allowed to leave, as well as Michael Essien being loaned to Real Madrid. Of course the most high profile departure was that of Didier Drogba, who was released after his substantial contract expired. 

The club's financial state will bode well for the new financial fair play rules being brought in by UEFA, which require any club that plays in European competition to break even.

O.B

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