Stamford Bridge
Chelsea saw their annual profits rocket to a record high in the year to June 2014.Reuters

Chelsea have provided further evidence of their ability to sustain themselves without the financial backing of owner Roman Abramovich after posting record profits for the second time in three years.

Profits have risen from £1.4m generated two years ago to £18.4m for the year ending 30 June 2014, with turnover also at a record £319.8m as the Blues come into line with Uefa's Financial Fair Play (FFP) regulations.

Though Abramovich has shown no desire to sell Chelsea, the news gives the club belief they can live within their means should the Russian businessman decide to sell the Stamford Bridge club, following years of substantial losses.

"We financed player purchases from sales as the squad for this current season was shaped, and our philosophy since Mr Abramovich acquired the club in 2003 has been to build upon success on the pitch," chairman Bruce Buck said.

"Going forward, we have ambitious plans to build a pioneering global commercial programme, partnering with innovative and market-leading organisations from around the world. In the era of FFP, we must progress commercially to continue the circle of success to invest in the team and get results."

Jose Mourinho signed Diego Costa, Cesc Fabregas, Loic Remy and Filipe Luis as well as re-signed Didier Drogba during the summer transfer window, deals which Chelsea financed with the sale of David Luiz and Romelu Lukaku.

The profits generated during last season came as a result of Chelsea's run to the Champions League semi-final and their third place finish in the Premier League which came as they contested the title until the final week of the campaign.