The scale of the financial challenge facing many Premier League club is brought home when one realises that Everton, recognised as having one of the best managers in the Premier League, has lost £52m over the last seven years. Indeed, if they weren’t so skilled at player trading, their losses would be even bigger.
The scale of the financial challenge facing many Premier League club is brought home when one realises that Everton, recognised as having one of the best managers in the Premier League, has lost £52m over the last seven years. Indeed, if they weren’t so skilled at player trading, their losses would be even bigger.
Everton’s losses increased by £3.7m to £9,1m last year. This was in spite of a £10.5m profit from player trading. The wage bill increased from £58m to £63.4m, representing 75 per cent of the club’s £80.5m turnover, a figure that is higher than desirable. Net debt remained largely unchanged at £46m, but their credit facility with Barclays Bank is at its limit, constraining their freedom of action in the transfer window.
Everton chairman blamed the ‘inexplicable’ failure of broadcasters to screen as many Everton matches as in the previous season as one of the reasons for the club’s rising losses. There was also a fall in gate receipts and season ticket sales.
The hunt for an investor in the club goes on, as it has for several years, and no developments are thought to be likely in the immediate future.