On a day when there will be potentially big money moves both in and out of Stamford Bridge, Chelsea have announced a total loss of £70.9million for the financial year ending June 30, 2010. The Blues revealed their operating loss had reduced from £72.3million to £68.6million as they bid to fall in line with UEFA's new Financial Fair Play Rules.
Transfer fees were the main contributor to the loss, with the club declaring a positive cash flow of £3.8million, the first time such an outcome had been achieved in the Roman Abramovich era.
Last year had seen a net outflow of £16.9million. Group turnover was up £2.5million to £205.8million.
Chief executive Ron Gourlay said: "The reduction in operating losses and increased sales in 2009-10 shows that we are moving in the right direction, especially when viewed against the difficult macroeconomic environment. The club is in a strong position to meet the challenges of UEFA Financial Fair Play initiatives which will be relevant to the financial statements to be released in early 2013.
Chairman Bruce Buck added: "That the club was cash generative in the year when we recorded a historic FAPL and FA Cup double is a great encouragement and demonstrates significant progress as regards our financial results."
