Team Everton in action© AFP
Premier League strugglers Everton on Sunday revealed a loss of 89.1 million pounds ($112 million) for the 2022-2023 season in their latest financial reports. Everton’s losses were a significant increase from the 2021-2022 season, when their accounts showed a deficit of £44.7m. The Goodison Park club has blamed the indefinite suspension of sponsorship deals with key commercial partners as mitigating the increased losses. Everton’s latest reports, which also reveal heavy investment in the club’s new stadium, come at a time when their finances are under scrutiny.
The Toffees will hear the verdict on a second charge of breaching the Premier League’s profitability and sustainability rules before April 8.
They could face even more points deductions, in addition to the six they have already lost due to violations in the 2021-2022 season.
Under PSR rules, clubs can lose a maximum of £105m over three seasons, or £35m per campaign, before sanctions are imposed.
Everton were defeated 2-1 at Bournemouth on Saturday and are currently 16th in the Premier League.
Sean Dyche’s team is only three points above the relegation zone with nine games to go.
Beleaguered majority shareholder Farhad Moshiri said earlier this week that he remains confident that the long-running takeover of the club by 777 Partners will be completed soon.
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