Chelsea reverses loss; set to declare 20 million pounds annual profit

Chelsea are on course to declare annual profits of close to 20 million pounds, with a record turnover of around 320 million pounds, indicating that the club is in a sound position financially.The Blues have, certainly, reversed the huge losses incurred because of spending under Russian owner Roman Abramovich. The results have indeed signaled that boss Jose Mourinho would have more scope to reinforce his team in January.The transfers of Juan Mata and David Luiz to Manchester United and PSG simultaneously have significantly contributed in increasing the profits.Unlike fellow Premier League big-spenders Manchester City, Chelsea are in an increasingly healthy position in terms of Financial Fair Play regulations.