Everton's Financial Struggles Continue: Seventh Year of Losses Despite New Stadium Funding
Source: news.source.channelnewsasia
Everton Football Club has reported a financial loss of £53 million for the 2023-24 season, marking their seventh consecutive year of deficits. Despite this, the club managed to comply with the Premier League's Profit & Sustainability Rules (PSR) due to exemptions for investments in infrastructure, youth development, and women's football. The club's total losses over the past seven years amount to £570 million. Recently, Everton secured a £350 million financing deal for their new stadium and underwent a change in ownership to the Friedkin Group for £400 million. Under new management with David Moyes at the helm, the team remains unbeaten in their last nine Premier League matches, sitting comfortably above the relegation zone.
Key Points
Everton reported a £53 million loss for the 2023-24 season, continuing a seven-year streak of financial deficits.
The club's total losses over the last seven years are £570 million.
Despite the losses, Everton complied with the Premier League's PSR due to exemptions for investments in infrastructure, youth development, and women's football.
Everton secured a £350 million financing deal for their new stadium, set to be completed for the 2025-26 season.
The Friedkin Group acquired Everton for £400 million, ending Farhad Moshiri's tenure and converting his loans into equity.
David Moyes was reappointed as manager, replacing Sean Dyche, and the team has remained unbeaten in their last nine Premier League matches.
