Blues in the black for 2010

Chelsea have announced a profit of €1.75m (€2.18m) for last year — the first time the club has finished in the black in the Roman Abramovich era.

After eight years and a total of €788m in losses since the Russian took over, the club’s Champions League success pushed them into the black. That unlikely win and a profit in the transfer market saw the club overturn a bleak financial record which saw them return a loss of €84.7m in 2010.

“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,” said chairman Bruce Buck.

The results will boost to the club’s efforts to comply with Uefa’s new financial fair play regulations. The club also had record group turnover of €320m, up from €282m.