Everton’s financial woes continue as loss doubles to £89m

Everton’s finances were under the microscope again on Easter Sunday as they revealed a loss for the 2022-23 season which almost doubled from the previous year.

The accounts, which were released during the high-profile Premier League clash between Manchester City and Arsenal, showed the club lost £89.1m, which shot up from £44.7m in 2021-22.

The club have cited the indefinite suspension in sponsorship deals with key commercial partners as mitigation for the increased loss.

The release of the accounts, which also show heavy investment in the club’s new stadium, does not make pretty reading at a time when their finances are under scrutiny.

The club are due to find out before 8th April the verdict of a second charge of breaching the Premier League’s profitability and sustainability rules, with a further points deduction a possibility in addition to the six they have already lost for breaches related to the 2021-22 season.

Everton are currently 16th in the Premier League table on 25 points, three above the relegation zone.

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The under-fire majority shareholder Farhad Moshiri said during the past week that he remains confident the protracted takeover of the club by 777 Partners will be completed soon.

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