Chelsea Football Update: December 2013

Tuesday, December 31, 2013

Chelsea reports annual losses of more than $80m

Chelsea has posted annual losses of more than $80 million but the Premier League club remains confident of complying with UEFA's Financial Fair Play rules. The club slipped back into the red a year after making a profit for the first time since Russian billionaire owner Roman Abramovich's takeover in 2003. Chelsea lost 49.4 million pounds ($81.7 million) in the year to June 30, after making a profit of 1.4 million pounds ($2.3 million) in 2011-12. But UEFA allows unlimited investment on infrastructure and youth development, which Chelsea believes accounted for around 15 million pounds ($25 million) in spending in 2012-13.

via World Soccer on Yahoo Sports http://sports.yahoo.com/news/chelsea-reports-annual-losses-more-235359910--sow.html

Transfer window guide

• Check out our gallery of the top January targets

• Marvel at the size of the fees being discussed

Nemanja Matic, Benfica

Age 25 Fee £20m-£22m Possible suitors Manchester United, Chelsea

Once on Chelsea's books, the lanky, elegant left-footed Serb has matured into an intelligent defensive midfielder who brings calm and order to his side. A return to Stamford Bridge is reportedly possible

Fredy Guarín, Internazionale

Age 27 Fee £12m-£14m Possible suitor Chelsea

Temperamental, hard-shooting Colombian heavily linked with Chelsea. Not quite finding his place in Walter Mazzarri's midfield schemes, he is probably better suited to the hustle and bustle of the Premier League

Ivan Rakitic, Sevilla

Age 25 Fee £14m-£16m Possible suitor Manchester United

Swiss-born Croat enjoying a magnificent season with Sevilla. The technically gifted playmaker, worthy of a place in most Champions League level sides, is the perfect remedy for a top team short on creating chances

Mohamed Salah, Basel

Age 21 Fee £10m-£12m Possible suitor Liverpool

A direct, fast and unpredictable winger who can operate on both sides. The Egyptian, currently being watched by many European clubs, has arguably impressed more in the Champions League than domestically this season

Jackson Martínez, Porto

Age 27 Fee £25m-£30m Possible suitor Chelsea

Fast, physically strong and deadly in the box, the high-scoring Colombian centre-forward has the prerequisites to convert dominance into goals. Given the strong connection between the two clubs, possibly a January option for Chelsea

Fabian Schär, Basel

Age 22 Fee £14m-£16m Possible suitors Chelsea, Tottenham

Calm, comfortable on the ball and with an impressive positional sense, the young Swiss centre-back is attracting interest from scores of European giants and looks ready for the next step in his so far meteoric career

Yohan Cabaye, Newcastle

Age 27 Fee £16m-£20m Possible suitors Manchester United, Arsenal

With goalscoring central midfielders a rare commodity, Newcastle might face renewed interest for the influential Frenchman in January. He is 28 this month; the time might be ripe to sell reluctantly

Fernando Reges, Porto

Age 26 Fee £10m-£12m Possible suitors Manchester United, Liverpool, Everton

Disciplined, strong in the tackle and with a great work ethic, the ball-winning defensive midfielder is soon out of contract and the sought-after newly naturalised Portuguese (Brazilian born) apparently favours the Premier League

Michy Batshuayi, Std Liège

Age 20 Fee £7m Possible suitors Arsenal, Tottenham, Everton

The top scorer of the Belgian league has been heavily monitored by Premier League clubs this autumn. In addition to potentially making an instant impact, the robust Belgium Under-21 international also represents future resale value

Pedro Obiang, Sampdoria

Age 21 Fee £8m-£12m Possible suitors Opportunity for a mid/upper table team

Highly rated, young, dynamic and tactically disciplined central midfielder who finds himself at a club that may need to sell a valued asset in January

Adam Lallana, Southampton

Age 25 Fee £16m-£18m Possible suitors Manchester United

Though Southampton are unlikely to listen to offers for their England midfielder, currently in scintillating form, it may not stop other top teams looking to add extra spark and creativity in the final third from trying

Ander Herrera, Athletic Bilbao

Age 24 Fee £20m-£24m Possible suitors Manchester United, Arsenal

Subject of a last-minute bid from Manchester United in the summer transfer window. Injuries and a recent drop in form may see a more favourable January price for the central midfielder

Eliaquim Mangala, Porto

Age 22 Fee £24m-£26m Possible suitors Manchester City, Chelsea

Man-mountain of a centre-back, long since chased by practically all the European top clubs despite having only one French cap to his name

Gonzalo Higuaín, Napoli

Age 26 Fee £40m-£45m Possible suitor Chelsea

Despite joining Napoli only this summer – for a record £32m – the prolific striker is already linked with Chelsea. Though a January move seems implausible, Roman Abramovich can be persuasive

Nicolas N'Koulou, Marseille

Age 23 Fee £10m-£12m Possible suitors Teams with Champions League aspirations

Pacey Cameroonian defender constantly linked with Premier League clubs. Marseille's £15m valuation was considered excessive but, with them out of Europe and the title race, it could be time for a move

Maxime Gonalons, Lyon

Age 24 Fee £12m-£14m Possible suitors Quality squad option for title contenders

Deep-lying midfielder able to build as well as break up. The France international might become available for a cut-price fee as Lyon are struggling to make ends meet

Luis Muriel, Udinese

Age 22 Fee £16m-£20m Possible suitors Title challengers in need of an impact sub

Ultra pacey Colombian striker built like a bull, one of the hottest properties of the summer market and with huge potential. Inconsistent recent form should see the price reach more realistic levels

Daniel Agger, Liverpool

Age 29 Fee £10m-£12m Possible suitors Top teams at home and abroad

Currently second choice to Sakho, it would be surprising if offers are not received for Agger in January; he is left-footed, experienced, can play the ball and is eligible to play Champions League

Edin Dzeko, Manchester City

Age 27 Fee £18m-£20m Possible suitor Tottenham

Despite his playing an important role at Manchester City, is the Bosnian forward really content as understudy to Negredo? Highly regarded at many clubs, though City might not sell to a direct rival

Xherdan Shaqiri, B Munich

Age 22 Fee loan Possible suitors Top eight side in need of more up front

The left-footed Swiss winger with a thunderous shot has seen limited opportunities under Pep Guardiola and a loan move might suit him to gain more playing time before the World Cup

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Arsène Wenger confident Arsenal are ready to stay the pace this time

• Gunners hope to take 2013 form into next year

• Arsenal squad are 'hungry and ready for it'

Arsène Wenger is not immune to the consensus. "Everyone expects us to fail," the Arsenal manager said, with a smile. The calendar year of 2013 offered compelling evidence as to why the club could yet win the Premier League title for the first time since 2004 but there remains a nagging doubt.

It seems as though everybody feels it and Arsenal's achievements over the first half of the season, least of all entering the New Year on top of the table, have not managed to convince the pundits that they will do anything other than implode at some point over the next four and a bit months.

The sentiment will not keep Wenger awake at night; he suggested that it might take some of the pressure off his club. But he did challenge it, before the New Year's Day visit of Cardiff City, because he believes there are many reasons why Arsenal's story can be different this time.

In 2008, the previous occasion they topped the league on the morning of New Year's Day, the club would run aground after a traumatic day at Birmingham City in late February, when Eduardo da Silva suffered a terrible leg break, the team conceded a late equaliser and William Gallas threw his infamous strop.

But Wenger feels his current squad is tougher mentally, blessed with greater quality in depth and ready to take the momentum of 2013 into the decisive months of the season. No Premier League team could better Arsenal's return of 82 points from 38 games during the calendar year and their excellent away form was a particular source of encouragement.

"It's not a trophy but it shows the consistency and the trend for the team," Wenger said. "It means we are going upwards and we want to transfer that into 2014, to be concrete and to have a great race in the Premier League title. We have been consistent and that makes the belief stronger. These players have a classy attitude, they are hungry, they want it and are ready to go for it.

"This squad is more experienced. In 2008, we lost it at Birmingham, especially, where we were a bit unlucky and self-destructive as well. But, overall, we are better equipped on the mental front."

Wenger admitted that the team had endured a blip with the league draws against Everton and Chelsea, bookending the defeats at Napoli in the Champions League and Manchester City, but the subsequent wins at West Ham United and Newcastle United showed the ability and character. Wenger also noted how he had changed three midfielders from Upton Park to St James' Park and still looked strong while he took further heart from the positive manner in which his team had finished the last two seasons.

"We lost big players during the summers, we had to rebuild and we found our run after Christmas," Wenger said. "What we suffered from, which was the most important, was we looked a team with less ambition than the others. We were in a position where we sold our good players; we accepted to be behind the teams who invested a lot of money. That has changed and that has strengthened, as well, the belief."

Wenger's injury worries increased after the Newcastle game, with Kieran Gibbs and Olivier Giroud succumbing to calf and ankle problems. The manager also reported that Jack Wilshere (ankle), Theo Walcott (shoulder) and Tomas Rosicky (calf), along with Thomas Vermaelen and Nacho Monreal (both illness), are doubts for Cardiff but all five have been named in the squad. Giroud's injury is not serious, although he is unlikely to be back for Saturday's FA Cup tie at home to Tottenham Hotspur, meaning that Lukas Podolski stands to enjoy an opportunity at centre-forward. Wenger said that he was "on alert" for a new striker in January.

"Maybe we are a bit shorter up front with specialised people ... we have only two because [Yaya] Sanogo is not ready yet," Wenger said. "If that special opportunity turns up, we will not turn it down but everywhere else, we are in no need at all [to buy]."

Wenger said he would "push very hard" to ensure that Bacary Sagna signed a new contract and he added that the club and defender were "not far" from an agreement. But he could offer no guarantees, with Sagna, whose current deal expires in the summer, now free to sign a pre-contract at an overseas club.

"We cannot stop him from doing that," Wenger said. "For me, that is not a problem because when you are a professional football player, you do your best until the last day, of where you are. I don't question Sagna's commitment until the last day of his contract."

David Hytner

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Manchester City know they are title favourites, says José Mourinho

• Chelsea manager turns up heat on Manuel Pellegrini's side

• Arsène Wenger insists City are not 'completely unbeatable'

José Mourinho has sought to pile the pressure on to Manchester City, presenting them as the red-hot Premier League title favourites for 2014, and the Chelsea manager has insisted he is not playing mind games.

Arsène Wenger, though, gave short shrift to his rival and made it plain that Mourinho's views should not be taken at face value. Wenger enters the new year with Arsenal on top of the table and the belief that City ought to be no better fancied than his club, Chelsea or the defending champions Manchester United.

Mourinho takes Chelsea to Southampton on New Year's Day, sitting third in the league, one point behind City and two behind Arsenal. He has previously said that City should be well clear already, such is the strength in their ranks, and he bristled at the suggestion that his comments about City were an attempt to unsettle them.

"You think I am? You think I'm capable of that?" Mourinho said, with a straight face, as his audience nodded and laughed. "See the [City] squad, see the players, the number of goals, the strikers. [Edin] Dzeko is the third striker of Man City. Dzeko! [Stevan] Jovetic the fourth. Do you think I'm putting pressure. Pfff.

"I don't think Man City should feel pressure. I think they know how good they are and I think they know they are the favourites. I don't think they feel any pressure."

Wenger, whose Arsenal team face a New Year's Day visit from Cardiff City, raised his eyebrows at Mourinho's words. "Do you believe him?" he asked. "Man City are favourites not more than Chelsea, for me, or Man United. They have the squad, yes. They have a squad of names who can pretend to win it. But at the end of the day, it is down to what we do on the pitch.

"Are Man City, at the moment, completely unbeatable? Not for me. They have lost a number of games away from home. They have played one more game at home, than away. We have played one more game away, than at home. So it is open."

Arsenal were last on top of the table at New Year in 2007-08, only to fade after a morale-sapping 2-2 draw at Birmingham City in late February. This season is fiendishly tight at the halfway stage, with nine points separating the top eight clubs.

"It is very difficult to say who are the main challengers," Wenger said. "Two weeks ago, you would have all said it is Liverpool and then, two defeats later, they are six points adrift. It is very difficult to predict. Liverpool, Man City, Chelsea … I forget a few … you can count Everton, even Man United. You cannot rule them out. What is for sure is that after the Christmas period, after the New Year's Day games, we will have a better idea and then go from there."

City visit Swansea City in the early kick-off, with Manuel Pellegrini keen to establish his club as the leading force in the domestic game. "We must try, at least," he said. "But it's very difficult to be dominant over here. Chelsea are a very strong team … Manchester United, Arsenal and Tottenham are a strong team. So are Liverpool. So it's difficult."

Mourinho sought to highlight the progress Chelsea have made compared to this time last year, when they trailed the then leaders, United, by 11 points, albeit having played one game fewer. But he continues to stick to the line about his club being in transition and, as such, title outsiders. "We are OK," Mourinho said. "Last year, in this moment, we were 11 points behind the leader, so game over. In this moment we are two points behind, so game on. Let's keep going.

"We have to protect the top four, because this season the top four will be a big achievement for everyone. And if we can protect the top four, let's see what we can do and let's see if Man City kills everybody or if they keep being close to all of us.

"The six clubs that I considered in pre-season are still there and, of course, Everton and Newcastle are also pushing for the top four. I think Tottenham and Man United are ready to attack the top four.

"The difference between the top four and being champion … it looks like it's not a big difference. So I think the first objective for everyone is to attack the top four and try to be stable in the top four."

David Hytner

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Brendan Rodgers confident Anfield advantage can move Liverpool onwards

• Manager believes Liverpool can make most of home form

• Clash with Hull a chance to continue winning run at Anfield

Brendan Rodgers is confident the "Anfield factor" can propel his Liverpool side back into the Champions League places, starting with Wednesday's match against Hull City.

Successive defeats at Manchester City and Chelsea have left Liverpool in fifth position after they led the Premier League on Christmas Day, but they have won their past six matches at home and Rodgers believes this offers an excellent opportunity to move up the table.

"We have got all these teams to play at home. All the teams, apart from Manchester United, are all to come to Anfield. We are very strong at home," said the manager, who hopes to add to his squad during the January transfer window. "And if we can reinforce the group in these next four weeks then it sets us up."

Liverpool have lost only once at home this season – to Southampton – and Rodgers is confident that given this "Anfield factor" the side's destiny remains in their control. "That's what gives me the great confidence," he said. "How we've been at Anfield over the course of this year means we have a big part to play in our own destiny and that is all you can ever hope for. You look at the other teams, like Manchester City, they have played a lot of their games at home and so have got to travel.

"They have had their difficulties on their travels. So for us the second half of the season at Anfield will be massive. We love playing there. We enjoy playing there. We feel comfortable there to go and get a result against anyone and we aim, along with our supporters, to make it a real difficult place to get a result."

Rodgers added: "I think it's a combination of the confidence of the players and an aggressive style of play. And also improvements to the team. It's been very pleasing. I said before we have had lots of compliments about the creativity of the team but what has been important for me has been the consistency. It is something we have to keep focused on, and going into every game like it is a cup final.

"We're at the halfway point and we've arrived in great condition. If you had said we would be six points off the lead at halfway then I would've taken that at the start. We have got it all to play for. When you look at the two teams we have just played there is a huge difference in terms of squads. But we're not going to sit back and cry about it.

"If we win the game against Hull it is nine points out of 15 and if you consider that with Tottenham, City and Chelsea away it's actually a decent return. If we get three points against Hull then we leave the period with a decent return. Whatever squad we have we will go into the game positive to get a result."

While Steven Gerrard, the captain, may return to face Hull after a hamstring injury, Rodgers is without Daniel Sturridge, Joe Allen, José Enrique, Jon Flanagan, Mamadou Sakho and Sebastián Coates for varying lengths of time. Rodgers played down concerns over the impact of injuries on his squad, however. "I've always worked with what I've got and maximise what we have available so I don't want to get too down or focus to much on it. We will have some returning players fairly soon and January could be a great springboard for us like it was last year. So that's what is in my thoughts."

Rodgers did admit that good fortune may be needed if a Champions League place is to be achieved. "If we have a bit of luck – and up until five weeks ago we had all the players fit and available – we have an incredible chance to compete for that. But when we hit a few injuries that can affect us."

Jamie Jackson

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Jose: 'Game on' in title race

Jose Mourinho goes into 2014 insisting it is 'game on' for Chelsea in the Premier League title race.

via Sky Sports | Football News http://www1.skysports.com/football/news/11661/9096267/

Jose: 'Game on' in title race

Jose Mourinho goes into 2014 insisting it is 'game on' for Chelsea in the Premier League title race.

via Sky Sports | Football News http://www1.skysports.com/football/news/11095/9096267/

Manchester City know they are title favourites, says José Mourinho

• Chelsea manager turns up heat on Manuel Pellegrini's side

• Arsène Wenger insists City are not 'completely unbeatable'

"I don't think Man City should feel pressure. I think they know how good they are and I think they know they are the favourites. I don't think they feel any pressure."

David Hytner

via Football: Chelsea | theguardian.com http://www.theguardian.com/football/2013/dec/31/jose-mourinho-chelsea-manchester-city-title

Bolton Wanderers clinging on thanks to owner Eddie Davies's generosity | Jamie Jackson

A disastrous financial situation has placed the very future of one of the Football League's founder clubs in jeopardy

The most damning statistic that contributed to the scarcely believable £163.8m debt Bolton Wanderers revealed on Tuesday is the £50.7m loss they posted in the year to June 2013 alone.

This followed a fall in turnover from £58.5m to £28.5m as the effect of relegation from the Premier League the previous season was felt. As Phil Gartside, the chairman, said: "Looking forward we have to recognise we are no longer a Premier League club in the Championship but a Championship club with ambitions to play in the Premier League."

Perhaps a more encouraging note for supporters and anyone who wants clubs run on a robust footing would have been sounded if Gartside had made clear that the mistakes in overspending will be learned from and not repeated. Gartside and Eddie Davies, the owner who is owed nearly all of the £163.8m, must shoulder the responsibility for the position the club find itself in.

The wage bill now stands at £32.7m, its lowest level since 2007 when Bolton were still firmly a Premier League club, so the question must be asked why, over the following five years, this and other overheads continued to rise despite the greater monies received from operating in the world's richest league.

Bolton last made a profit in 2006. Since then year-on-year losses have risen steadily to the current amount. This means that the £50.7m black hole suffered in 2012-13 has been seven years in the making – time enough, surely, for Gartside and Davies to have warning to arrest this. In 2007 a £2m loss was returned, the following year it was £8m and by 2010 it had jumped to an alarming £35m – this last figure all but tripling the previous year's £13m.

In the haemorrhaging of £50.7m over 12 months Wanderers become a member of the club no one wants to join by being the fifth to lose £50m-plus in a year.

Manchester City, who have done it four times, Chelsea (seven), Liverpool and Aston Villa (once each) are all entities with far greater finances and revenue streams than Bolton who, even before relegation two seasons ago from the Premier League, struggled with attendances that could be lower than several Championship clubs and even one in League One.

To place the £163.8m owed in further perspective, only Chelsea, Manchester United and Fulham have more debt from the most recent available figures. As Gartside confirmed, the fact that Bolton can shoulder such crippling losses to remain a going concern is solely down to the benevolence of Davies.

Gartside said: "This year's results show the difficulties faced in the football business when a club has enjoyed a sustained and successful period in the Premier League, in our case 11 years, then suffers relegation back to the Football League Championship. The ever-widening gap between the two leagues makes the transition extremely difficult, even with the benefits of parachute payments from the Premier League."

Regarding Davies, who paid £2.25m in 2003 to increase his shareholding from 29.7% to 94.5% to take over Bolton, Gartside offered thanks that the club remains solvent while stating that due to financial fair play rules in the Championship, alternative incomes have to be found. "It should go without saying that Eddie Davies continues to provide a humbling level of support to the club," Gartside said.

"However, the financial support given by owners is no longer possible in this league without severe penalty. We are responding to a changing environment by improvement and development of the wider Burnden Leisure business interests. This year we secured sole ownership of the hotel [at the Reebok Stadium], expanded our education business and applied for planning permission to increase our non-football operations to improve revenues over the medium to long term.

"We will continue to invest, both in the long and short term, where the returns can be justified. However, financial fair play rules require an alternative funding structure and Bolton Wanderers is very much moving towards a self-sustainable future."

The numbers that illustrate how Bolton find themselves so dependent on Davies to avoid entering administration ahead of potential extinction are alarming. Despite season ticket prices being frozen last season, attendances at the Reebok Stadium fell 24%, while sponsorship dropped from what was a relatively minuscule £4.3m to an almost insignificant £1.4m, a 68% decrease.

All of this occurred despite the club reducing staff and general administration costs. In a statement Bolton said: "Total staff costs for the year were £37.4m, down from £55.3m, as a result of a number of players leaving the club as well as the evoking of relegation clauses in a number of players' contracts and making significant changes in overheads. General administration costs reduced by 10% to £14.1m from £15.7m."

Davies, sources at the club claim, has no plans to walk away in the near future meaning the owner's ongoing commitment should be secured. There is also an insistence that a five-year plan is in place to address the debt. Yet Davies could hardly pull out of the club when £151.3m of debt is owed to him via his Moonlight Investments Ltd vehicle.

What seems clear is that the £163.8m owed by Bolton places the future of a founding member of the Football League in real jeopardy and this amount should surely not increase further.

Jamie Jackson

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Chelsea announces 49.4 million pound losses for 2013

Elimination from last season's Champions League group stage saw a drop in income, but the club is confident it remains within the Financial Fair Play regulations.

via World Soccer on Yahoo Sports http://sports.yahoo.com/news/chelsea-announces-49-4-million-200500436--sow.html

Chelsea Reveal £50m Loss

Chelsea remain confident that they will meet UEFA's Financial Fair Play regulations despite a near £50million loss for the last financial year. The results for the year ending June 30, 2013, show a record £255.8m turnover - the fourth successive year it has increased - despite the club's elimination from the Champions League at the group stage last season. Chelsea enjoyed a 19 per cent rise in commercial income from £67m to £79.6m as they won the Europa League, although a reduction in income from the success of winning the previous year's Champions League contributed to the £49.4m loss. Despite that, Jose Mourinho's side will satisfy FFP regulations as the two-year monitoring period includes the £1.4m profit made in the 2011/12 season.

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Chelsea upbeat despite loss

Chelsea remain confident that they will meet UEFA's Financial Fair Play regulations despite a near £50 million loss for the last financial year.

via Sky Sports | Football News http://www1.skysports.com/football/news/11661/9096246/

Chelsea announce £49.4m loss but claim financial outlook still bright

• Loss in year to June 2013 follows small profit in 2011-12

• Club confident over financial fair play compliance

Chelsea have insisted they remain on track to comply with Uefa's financial fair play rules, despite plunging to an annual loss of £49.4m according to their latest financial results.

The figures show that, for all the club's long-stated ambition to operate at break-even following a decade in which they have been subsidised by Roman Abramovich to the tune of more than £1bn, they remain loss making.

Last year, Chelsea posted their first profit of the Abramovich era and claimed it marked a milestone in their journey to self-sustainability, though it later emerged that the profit of £1.4m owed much to a one-off £18.4m share windfall. For the year ending June 2013, however, the results show a return to heavily loss‑making ways.

The £49.4m loss, partly due to new signings and a turbulent season during which the then Champions League holders exited the competition at the group stage, is closer to the £67.7m loss of two years ago than last season's paper profit. But the club argued that a 19% rise in annual commercial income to £79.6m and a record turnover figure of £255.8m showed they were moving in the right direction. Nor do the figures include a recently signed £300m, 10-year kit deal with Adidas.

"For Chelsea FC to achieve a record level of turnover despite our first group-stage elimination from the Champions League shows we have structured our business and are growing in the correct way for long-term stability," said the chief executive, Ron Gourlay. "Our philosophy is we build upon success on the pitch and although in these financial results we haven't repeated the sizeable profits made the previous year from player transfers, we believe the age profile of the existing squad means we will benefit from that investment for many years to come.

"A successful team builds awareness around the world and our increased commercial revenues in 2012-13 and new or extended partnership deals demonstrate we are working hard to capitalise on that."

Despite winning the Europa League under their interim manager, Rafael Benítez, Chelsea's early exit from the Champions League severely hit revenues. The full impact of signings during the period from July 2012 to June 2013 on the club's wage bill will not be apparent until the full accounts are lodged at Companies House next month. Like some other clubs, Chelsea attempt to control the way their results are presented by initially releasing only a limited summary.

Uefa's first monitoring period for its financial fair play break-even rules cover the 2011-12 and 2012-13 seasons and will be calculated next year. The new rules, designed to cool European football's overheated finances, have proved controversial because some argue they will lock in the established order and others that deals such as Paris Saint-Germain's with the Qatar Tourism Authority make a mockery of them.

Chelsea are confident that despite tumbling into the red again, they will comply with the acceptable €45m (currently £37.5m) "deviation" permitted during the first two-year accounting period once allowable expenditure on youth development, infrastructure and charitable giving is excluded from the total.

The chairman, Bruce Buck, said: "From the very beginning of the current ownership of Chelsea Football Club, a long-term objective was financial sustainability, and the subsequent implementation of financial fair play by Uefa and by the Premier League has brought that to the top of the agenda for football clubs.

"We are pleased therefore that we will meet the stipulations set down by Uefa in their first assessment period, and by our own analysis we are progressing from a commercial viewpoint as well as continuing to add trophies to our collection, which we never lose sight of as our most important goal."

The level of acceptable losses, which must be covered by a club's owner, then falls to €45m over three years for the next monitoring period and then €30m over the following three years.

Owen Gibson

via Football: Chelsea | theguardian.com http://www.theguardian.com/football/2013/dec/31/chelsea-49m-loss-financial-year-june-2013

Chelsea upbeat despite loss

Chelsea announce £49.4m loss but claim financial outlook still bright

• Loss in year to June 2013 follows small profit in 2011-12

• Club confident over financial fair play compliance

Chelsea have insisted they remain on track to comply with Uefa's financial fair play rules, despite plunging to an annual loss of £49.4m according to their latest financial results.

"A successful team builds awareness around the world and our increased commercial revenues in 2012-13 and new or extended partnership deals demonstrate we are working hard to capitalise on that."

The level of acceptable losses, which must be covered by a club's owner, then falls to €45m over three years for the next monitoring period and then €30m over the following three years.

Owen Gibson

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Chelsea comply with FFP rules despite $ 81 million deficit

By Tony Jimenez LONDON (Reuters) - Roman Abramovich's Chelsea will comply with new European Financial Fair Play (FFP) rules despite returning to loss for the year ending June 2013. "Although the Europa League was won, a reduction in income from that success compared with winning the Champions League in 2012 contributed to a loss for the financial year of 49.4 million pounds ($81.64 million)," the club said in a statement on Tuesday. FFP regulations state a club can have a deficit of no more than 45 million euros (37 million pounds) a year but head of communications Steve Atkins told Reuters that because of complicated accounting rules, Chelsea's actual loss was around 34 million pounds. "Group turnover of 255.8 million pounds for the 12-month period is a record figure for the club despite elimination from the Champions League at the group stage last season," Chelsea said in their statement.

via Sports News Headlines - Yahoo News UK http://uk.news.yahoo.com/chelsea-comply-ffp-rules-despite-81-million-deficit-182802213--sow.html

Soccer-Chelsea comply with FFP rules despite $81m deficit

By Tony Jimenez LONDON, Dec 31 (Reuters) - Roman Abramovich's Chelsea will comply with new European Financial Fair Play (FFP) rules despite returning to loss for the year ending June 2013. "Although the Europa League was won, a reduction in income from that success compared with winning the Champions League in 2012 contributed to a loss for the financial year of 49.4 million pounds ($81.64 million)," the club said in a statement on Tuesday. FFP regulations state a club can have a deficit of no more than 45 million euros (37 million pounds) a year but head of communications Steve Atkins told Reuters that because of complicated accounting rules, Chelsea's actual loss was around 34 million pounds. "Group turnover of 255.8 million pounds for the 12-month period is a record figure for the club despite elimination from the Champions League at the group stage last season," Chelsea said in their statement.

via World Soccer on Yahoo Sports http://sports.yahoo.com/news/soccer-chelsea-comply-ffp-rules-despite-81m-deficit-180000021--sow.html

Premier League Preview: Southampton - Chelsea

The Saints ran out 2-1 winners in the same fixture last season, but the Blues got revenge last time out and have renewed motivation after beating title rivals Liverpool on Sunday.

via World Soccer on Yahoo Sports http://sports.yahoo.com/news/preview-southampton-chelsea-080700952--sow.html

Chelsea report £49.4m loss but meet Financial Fair Play rules

Chelsea reveal a £49.4m loss for the year to 30 June 2013 - but say that falls within Uefa's Financial Fair Play rules.

via Latest Stories, Video, and Commentary about Chelsea | BBC http://www.bbc.co.uk/sport/0/football/25564078

Chelsea report £49.4m loss in 2013

Chelsea reveal a £49.4m loss for the year to 30 June 2013 - but say that falls within Uefa's Financial Fair Play rules.

via BBC Sport - Football http://www.bbc.co.uk/sport/0/football/25564078

Essien 'could leave Chelsea'

• 31-year-old has been linked with return to France

• Midfielder has only played three league games this term

Michael Essien could leave Chelsea in the transfer window, according to his agent.

The Ghana midfielder spent last season on loan with Jose Mourinho at Real Madrid, but has managed just three Barclays Premier League appearances this term.

Essien joined Chelsea from Lyon in 2005, moving on to claim two Premier League titles, four FA Cups and the Champions League.

The 31-year-old has been omitted from Chelsea's Champions League squad so far this season. Agent Fabian Piveteau believes that could help pave the way for a move to another big European club during the January window.

"He could leave Chelsea this winter," Piveteau told French radio station RMC. "Several major European clubs playing in the Champions League were informed and the situation should settle down within the next 10 days.

"You should know that Michael was not on the list of players who can play in the Champions League with Chelsea, so he is free to play in the competition with another club."

Piveteau rejected a return to Essien's first club Bastia out of hand, admitting that the 52-cap midfielder will only seek to move to a club of similar standing. He said: "In Ligue 1 he could play only at Paris Saint Germain or Lyon, but Bastia, FC Sochaux, for them to support the salary of a Chelsea player, it is already impossible."

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