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Everton report losses of £89.1m for 2022-23 season

General view of Goodison Park
The 2024-25 season is scheduled to be Everton's final season at Goodison Park, their home since 1892 [Getty Images]

Everton have reported financial losses of £89.1m in their latest accounts covering the 2022-23 season.

It is the sixth successive year of losses for the Toffees and more than double the £44.7m deficit in 2021-22.

Everton were deducted 10 points, reduced to six on appeal, for breaching Premier League financial rules for the three-year period up to 2021-22.

They are awaiting the outcome of a second charge for the period including the 2022-23 season.

Everton also reported:

  • A profit on player trading of £47.5m - Anthony Gordon was sold to Newcastle in January 2023 in a deal that could eventually be worth £45m.

  • £210.9m was spent on the continued development of the club's new stadium at Bramley-Moore Dock, scheduled to open in time for the 2025-26 season.

  • Net debt has risen to £330.6m.

  • A loss of sponsorship revenue of around £20m after suspending deals with Russian companies following the country's invasion of Ukraine, contributing to an £8.9m fall in turnover to £172.2m.

  • Costs of £7.1m associated with the departure of manager Frank Lampard and his staff in January 2023. Plus a further £3m linked with changes of board members.

Under Premier League profit and sustainability (PSR) regulations, clubs can lose a maximum of £105m over a three-season period, or £35m per campaign, before facing sanctions.

Costs associated with infrastructure investment, youth and women's teams can be deducted when calculating PSR losses.

In November, an independent commission found the club's PSR losses to 2021-22 amounted to £124.5m.

Everton's losses for the second charge is not yet known. The independent commission hearing took place last week, with an outcome expected by 8 April.

The Merseyside club finished 17th in 2022-23 and only avoided relegation thanks to a win over Bournemouth on the final day.

They are currently 16th in the table, three points clear of the bottom three with nine games remaining.

The club is also awaiting Premier League approval for a takeover by American investment fund 777 Partners.