Everton Announce £53m Loss as Financial Worries Continue | OneFootball

Everton’s Losses Continue Despite Friedkin Takeover and Stadium Progress

In the never-dull theatre that is the Premier League, Everton remain a fascinating subplot—steeped in history, mired in financial quicksand, yet somehow still alive and kicking. Their latest financial report paints a familiar picture: another year in the red, but with nuanced changes suggesting an evolving narrative under new ownership.

Seven Seasons of Losses Reflect Deeper Structural Woes

Everton’s £53 million loss for the 2022-23 season, while notably lower than the £89 million shortfall the previous year, marks a staggering seventh consecutive season of financial deficit. The cumulative losses now sit at £570 million—a figure that underscores long-standing instability rather than temporary turbulence.

The Premier League’s Profit and Sustainability Rules (PSR) remain the Sword of Damocles hanging over Goodison Park. The Toffees were docked eight points last season for breaches relating to the 2021-22 and 2022-23 financial periods. And while Everton are no longer under investigation for a lingering charge, the optics are troubling.

Photo: IMAGO

PSR regulations permit clubs to lose no more than £105 million across a rolling three-year span, excluding allowable deductions such as investment in infrastructure, youth development, and the women’s game. Everton’s three-year loss of £187 million exceeds that threshold, albeit with some mitigating factors factored in. Still, that margin remains razor-thin.

Stadium Project Drives Investment but Swells Debt

The Bramley-Moore Dock stadium—now a centrepiece of Everton’s long-term vision—continues to attract significant capital. Investment in the new 52,888-seat venue has climbed from £211 million to £313 million in a year. The club is set to move in for the 2025-26 season, signalling a pivotal moment both commercially and culturally.

Yet ambition carries its price. Net debt has swelled to £567 million, though that includes the £350 million stadium-related borrowing. It’s a figure that would unsettle most Premier League clubs not buoyed by Champions League revenue or global fanbases. However, the refinancing orchestrated by the Friedkin Group—who completed a £400 million takeover in December—has introduced a sense of order amid the chaos.

One immediate structural improvement came in converting Farhad Moshiri’s shareholder loans into equity. The new owners also refinanced Everton’s debt on more favourable terms, softening the long-term burden. These are pragmatic decisions—less headline-grabbing than a marquee signing, but foundational to the club’s survival.

Improved Turnover, Lower Wages, But Revenue Model Still Shaky

On the business side, Everton reported a modest rise in turnover, up £15 million to £187 million. Wages, while still high, have dropped proportionally from 89% to 81% of turnover—progress, but still unsustainable in the long term.

Player sales, always a double-edged sword, brought in £50 million. The late-June sales of Ben Godfrey to Atalanta (£10 million) and Lewis Dobbin to Aston Villa (reportedly £9 million) reflect a strategy to navigate PSR deadlines, but raise questions about depth and squad stability.

This is a club still in search of a self-sustaining revenue model, not unlike many others in the Premier League’s bottom half. Matchday income is expected to rise significantly post-stadium move, but until then, Everton remain at the mercy of broadcast deals, transfer market roulette, and league survival.

Moyes Steadies Ship, But Long-Term Vision Required

In footballing terms, there has been a measure of relief. David Moyes—back at the helm after Sean Dyche’s sacking in January—has guided Everton to a nine-match unbeaten run. The club currently sits 15th in the Premier League, comfortably 17 points clear of the relegation zone.

Yet stability on the pitch cannot mask the broader picture. Everton are still fighting on multiple fronts: for financial compliance, competitive relevance, and institutional identity. The arrival of the Friedkin Group may yet provide the long-term vision and discipline the club has lacked. But intentions must now translate into results—on the balance sheet and the pitch.