April 1 – It’s not often a £53.2million loss can be counted as a win, but in the case of Everton, it marks an £89.1m improvement on the deficit incurred during the 2022-23 season, with the club saying that the reduction outlines a year of financial progress.
Another piece of good news for the Premier League club is that despite a seventh consecutive year of losses, they will avoid profit and sustainability (PSR) sanctions.
Last season Everton were docked eight points for two separate PSR breaches for the rolling three-year periods including the 2021-22 and 2022-23 seasons. PSR prohibits clubs from losing more than £105m over a three-year period.
Everton’s three-year losses stand at £187m, but the Premier League had previously confirmed that the club are now compliant with PSR, with the rules including exemptions for investment in infrastructure, youth development and women’s football.
Under the new owner, The Fiedkin Group, long-term stability is the goal as the Toffees ready themselves for a new era and a move into their state-of-art Everton Stadium (pictured) at Bramley-Moore Dock on Merseyside.
Turnover has increased from £172.2m to £186.9m thanks to sponsorship, advertising and merchandising, while broadcasting revenue increased by £13.2m to £129.2m. However, Everton are still in debt to the tune of £567.3m, which the club said is due to investment in the squad, stadium development and operational costs.
The club recently announced a long-term, £350m financing agreement for Everton Stadium, which will officially open at the start of the 2025-26 season. The funding came from a consortium of “blue-chip institutional leaders” and will refinance borrowing that supported the completion of the new stadium.
Everton pointed out that the stadium financing marks the “final step” in an extensive capital restructuring process.
Colin Chong, Everton’s interim chief executive, said: “Since the accounting period ended, the takeover process has resulted in a significant strengthening of our financial platform – something that is not reflected in these figures but has already made a major impact on our long-term stability.
“Despite the challenges we have faced in recent years and during the accounting period covered by these accounts, the hard work of everyone across the club – on and off the pitch – has ensured we have continued to move forward. That is particularly true of the progress on Everton Stadium, a project that was maintained at pace. The commitment to delivering our new home, while continuing to navigate a complex financial landscape, has been exceptional.
“With new ownership, a world-class stadium opening at the start of the 2025-26 season and a clear plan for ongoing sustainability, we can approach the next chapter of our club’s future with confidence.”
Since David Moyes returned to the club as manager in January, the Toffees have been climbing the table and now look a sure bet to remain in the Premier League for the 2025-26 season after an unbeaten run of nine matches.