Everton report financial losses for seventh straight season - but avoid further PSR breaches | OneFootball

Everton have reported financial losses for the seventh season in a row.

The Toffees are in deficit by £53million from the last year, which despite being a £36m improvement from the 2022/23 campaign acts as a worrying indictment to the financial stability of the Merseyside club.

It come the season after Everton were deducted eight points for two separate breaches of Premier League profit and sustainability rules (PSR).

The Premier League revealed in January that they would not inflict any further punishment on Everton over an outstanding issue relating to another PSR charge, with the league stating that all clubs had been deemed financially compliant over the 2023/24 season.

This is despite the fact that Everton’s losses for the past three seasons amount to £187m - considerably more than the maximum of £105m that clubs can lose before they can be sanctioned under PSR rules.

However, costs associated with investment in infrastructure, as well as youth and women’s teams, are allowed to be deducted when calculating PSR losses.

And with £313m being spent this year on the development of their new 52,888-capacity stadium at Bramley-Moore Dock, which they’re due to move into this summer ahead of the 2025/26 season, Everton have been able to avoid breaching PSR rules.

Nevertheless, another year of losses means Everton’s total deficit for the past seven years sits at a staggering £570m.

The report notes that the club generated £48.5m from player sales, while gate receipts rose to £19.1m, up by £1.8m.

Everton have spent £313m on their new stadium over the past year (Getty Images)

Everton’s finances have been shaken up since the Texas-based Friedkin Group completed their takeover of the club in December, which ended the tumultuous eight-year reign of Farhad Moshiri.

The club expect to save tens of millions of pounds a year in debt repayments after agreeing a £350m package to refinance the costs incurred building their new £800m stadium.

The new owners have also converted Moshiri’s interest-free shareholder loans into equity.

Everton, who sacked Sean Dyche as manager just a month after completing the takeover of their ownership, are unbeaten in nine Premier League games under David Moyes, 17 points clear of the relegation zone in 15th.