Chelsea has posted annual losses of more than $80 million but the Premier League

LONDON — Chelsea has posted annual losses of more than $80 million but the Premier League club remains confident of complying with UEFAs Financial Fair Play rules.Michael Koenen Jersey . The club slipped back into the red a year after making a profit for the first time since Russian billionaire owner Roman Abramovichs 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, the governing body for European football, allows unlimited investment on infrastructure and youth development, which Chelsea believes accounted for around 15 million pounds ($25 million) in spending in 2012-13. UEFA is allowing losses of up to 45 million euros ($62 million) in the first FFP monitoring period — 2011-2013 — without the risk of being barred from European competitions. UEFA wants clubs to move toward breaking even on their football-related activities, and will be preparing in March and April to punish the first clubs for FFP breaches. “We will meet the stipulations set down by UEFA in their first assessment period,” Chelsea chairman Bruce Buck said Tuesday in a statement giving a partial breakdown of financial results. “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 2011-12 profit of 1.4 million pounds ($2.3 million) came on the back of generating around 90 million pounds ($149 million) from the transfer market and a successful Champions League campaign. But Chelseas UEFA income was hit despite winning the Europa League in May because the team was knocked out of the more lucrative Champions League at the group stage. So, although Chelsea posted a record turnover of 255.8 million pounds ($423 million) in 2012-13, it only rose by 100,000 pounds ($165,500). But commercial income grew 20 per cent year-on-year to 79.6 million pounds ($132 million), and there should be a more significant uplift in 2013-14 when the first year of a 300 million-pound ($497-million), 10-year contract extension with kit maker Adidas kicks in. Chelsea has also advanced beyond the Champions League group stage this season and is third in the Premier League, two points behind leader Arsenal. “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,” chief executive Ron Gourlay said. “Our philosophy is we build upon success on the pitch and although in these financial results we havent 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.” Bobby Rainey Black Friday Jersey . The Italian came from behind to overtake Jarlinson Pantano in the final 50 metres and edge out Dario Cataldo on the line after a climb to the sanctuary of Oropa, the scene of Marco Pantanis memorable victory in 1999. Mike Alstott Black Friday Jersey . The Jets jumped into a quick 2-0 lead in the first on goals by Zach Bogosian (3rd) and Devin Setoguchi (9th) 1:05 apart. Toby Enstrom and Andrew Ladd drew assists on the Bogosian goal, a point shot that seemed to dip and get by former Moose goaltender Eddie Lack.ARLINGTON, Texas — Right-hander Daniel Bard has agreed to a minor league contract with the Texas Rangers that includes an invitation to big league spring training. Bard, who has spent his major league career with Boston, is coming off surgery a month ago for Thoracic Outlet Syndrome. His activities are expected to be limited during spring traiining. Clinton McDonald Jersey. The deal was announced Monday, when the Rangers also agreed to a minor league contract with right-hander Armando Galarraga. Bard was 10-19 with a 3.67 ERA in 211 games for the Red Sox from 2009-13. He was designated for assignment by Boston on Sept. 1, and claimed off waivers by the Chicago Cubs on Sept. 4. ‘ ‘ ‘