Everton report losses of £89.1MILLION for 2022-23 – almost double the deficit for the previous year – as the Toffees risk another D-Day with the Premier League having already been docked six points for breaching financial rules
- Everton were assessed six points for breaching Premier League financial rules
- The Toffees’ total losses over the past three seasons now amount to a whopping £255 million
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Everton are at risk of another D-Day with the Premier League after the club’s accounts for the 2022-23 season showed a huge loss of £89.1 million on Sunday evening, almost double the previous year’s deficit.
It takes the Toffees’ total losses over the last three seasons to a whopping £255 million, with the club already having picked up six points this season (originally ten, but reduced on appeal) for breaching financial rules, with a high chance of further sanctions for a second. attack.
The hearing for that second charge amid an alleged breach of the Profit and Sustainability Rules (PSR) took place last week and a verdict is expected next week. Sean Dyche’s side are winless in twelve Premier League games and just three points clear of the relegation zone.
And Everton have now admitted there is a ‘material uncertainty which may cast significant doubt on the club’s ability to continue’, with this latest annual loss almost twice as large as the £44 deficit .7 million from the previous year.
The latest figures somewhat devalue the club’s arguments that its finances were following a positive long-term trend, which was put forward at the first PSR hearing. And it now puts Everton in a position where they could be forced to sell at least one key player this summer.
Everton have reported losses of more than £89 million – almost double the previous year’s deficit
The club’s total debt now stands at £330.6 million, but that doesn’t include the care packages offered by potential owners. 777 Partners
Revenues have fallen to £172 million and sponsorship money has almost halved, with total player costs around £124 for every £100 spent. There are mitigating factors, most notably the suspension of sponsorship deals with Russian companies.
In doing so, Everton voluntarily cut ties with Russian oligarch Alisher Usmanov, whose firm would acquire the naming rights for the new stadium at Bramley Moore Dock. The cost of building that stadium, which was scheduled to open at the start of the 2025-2026 season, had a major impact on the losses.
But the figures are bleak as the club’s total debt now stands at £330.6m, although that does not include the financial care packages from potential owners 777 Partners. That takeover still needs to be approved by the Premier League.