Everton feel the heat as losses double to £89m and second points deduction looms

April 2 – More pressure has been heaped on English Premier League club Everton after they reported losses of £89.1 million for the 2022-23 season in their latest accounts report, almost double the previous figure of £44.7 million in the previous campaign.

The club were docked 10 points earlier this season, reduced on appeal to six, for breaching the Premier League’s financial rules and are waiting to learn if they will face more punishment for further breaches. They are due to find out before April 8 the verdict of a second charge and could be hit with a further points deduction.

Everton are 16th in the table, three points above the relegation zone.

In a statement Everton pointed to the “indefinite suspension of key commercial partnerships” as a factor in the accounts.

In 2022, Everton halted their major sponsorship with companies belonging to Alisher Usmanov, the Russian metals tycoon who has been sanctioned by the European Union. The move came in the wake of Russia’s invasion of Ukraine.

The latest losses came despite Everton’s accounts showing they made £47.5 million ($60 million) profit on player transfers.

Under-fire majority owner, Farhad Moshiri, has urged fans to “bear with us”, saying the protracted sale of the club to 777 Partners is “in the home straight”.

Contact the writer of this story at moc.l1712072259labto1712072259ofdlr1712072259owedi1712072259sni@w1712072259ahsra1712072259w.wer1712072259dna1712072259


Source link : https://www.insideworldfootball.com/2024/04/02/everton-feel-heat-losses-double-89m-second-points-deduction-looms/

Author : Paul Nicholson

Publish date : 2024-04-02 12:34:39

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