Chelsea announce record turnover

Chelsea have announced profits of £18.4million and a record turnover of £319.8m for the year ending June 30 2014.

The results see the club satisfy UEFA's Financial Fair Play regulations and represent a £17m hike in profits compared to two years ago.

Turnover, meanwhile, rose for a fifth consecutive year, with broadcasting revenues credited as a major contributing factor.

"The club is naturally pleased to record a significant profit for 2013-14," said chairman Bruce Buck. "By reaching the Champions League semi-final and maintaining a challenge in the Premier League until the final week of the season we demonstrated that, while improving our financial figures, we remained competitive in football's toughest club competitions.

"We financed player purchases from sales as the squad for this current season was shaped, and our philosophy since Mr [Roman[ Abramovich acquired the club in 2003 has been to build upon success on the pitch.

"That is evident in the partnerships we signed and in our fanbase growth which contributed to the new record turnover figure and the profit made.

"We have done all of this at the same time as creating one of the world’s leading football community programmes through the Chelsea Foundation.

"Going forward, we have ambitious plans to build a pioneering global commercial programme, partnering with innovative and market-leading organisations from around the world.

"In the era of FFP, we must progress commercially to continue the circle of success to invest in the team and get results."

Chelsea signed the likes of Andre Schurrle, Willian and Nemanja Matic, while selling Juan Mata and Kevin De Bruyne during the period in question and made it to the last four of the UEFA Champions League - losing to Atletico Madrid.