Everton announce losses for seventh season in row

Everton have reported losses of £53m for last season.Although the figure is less than the £89m deficit from 2022-23, it is the club's seventh successive year of losses - totalling £570m.Last season Everton were deducted eight points for two separate breaches of Premier League profit and sustainability rules (PSR) for the rolling three-year periods including the 2021-22 and 2022-23 seasons.In January the Premier League said it had not charged any clubs for breaches in 2023-24 after all were deemed financially compliant.It later said Everton would not face further action over an outstanding issue relating to an earlier PSR charge.Under PSR rules, clubs can lose a maximum of £105m over three years before facing sanctions.Everton's losses for the past three seasons are £187m, but costs associated with investment in infrastructure and youth and women's teams can be deducted when calculating PSR losses.Everton are scheduled to move to a new 52,888-capacity stadium at Bramley-Moore Dock this summer in time for the 2025-26 season.Everton also reported:£313m spent on the development of the new stadium, up from £211m the previous year.£50m generated from player sales, including defender Ben Godfrey joining Atalanta for £10m and winger Lewis Dobbin moving to Aston Villa for a reported £9m shortly before the accounting deadline of 30 June.Wage-to-turnover figure reduced from 89% to 81%.Turnover increased by £15m to £187m.Net debt rose to £567m.
The Texas-based Friedkin Group completed a £400m takeover of Everton in December, ending the turbulent eight-year tenure of Farhad Moshiri.The group refinanced the club's borrowings on more competitive terms, including £350m debt on the new stadium.The interest-free shareholder loans from Moshiri have also been converted into equity.Everton sacked manager Sean Dyche in January and replaced him with former boss David Moyes.Unbeaten in nine Premier League games, they are 15th in the table, 17 points clear of the relegation zone.

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