Chelsea reports 49.4 mln-dollar loss in 2013

Premier League title challengers Chelsea have reportedly made a loss of 49.4 million pounds for the year ended June 30, 2013.

Although Chelsea won the Europa League in 2013, but the club received significantly less prize money for that than they did in winning the Champions League in 2012, which contributed to the loss.

According to the BBC, Chelsea's group turnover of 255.8 million pounds for the 12-month period is a record figure for the club, but elimination from last season's Champions League in the group stages saw a drop in income, although the side's commercial income rose by 19 percent from 67 million pounds to 79.6 million pounds.

However, the club said that these figures, combined with the previous year's profit of 1.4 million pounds, fall within the criteria set by UEFA's Financial Fair Play (external) regulations, adding that for the club to achieve turnover shows that they have structured their business and are growing in the correct way for long-term stability.

The club also said that although in these financial results, they have not repeated the sizeable profits made the previous year from player transfers, they believe that age profile of the existing squad means that they will benefit from that investment for many years to come.

Chelsea's profit last year was their first since Roman Abramovich took control of the club in 2003, which was aided by money brought in from player sales, in addition to a one-off financial boost that came when the broadcaster BSkyB agreed to cancel its shares in a joint digital media venture with the club, the report added.