Everton Records Seventh Consecutive Year of Financial Losses, Sidesteps PSR Breaches

Everton Football Club reported a loss of £53 million (approximately $68.44 million) for the 2023-24 season, marking the seventh consecutive year the club has recorded a deficit, as announced on Monday. However, they have managed to stay within the Premier League’s profit and sustainability regulations.

While the loss reflects an improvement compared to last season’s staggering £89.1 million deficit, Everton’s cumulative losses over the past seven years have reached £570 million.

Last season, the club faced an eight-point penalty due to two separate breaches of the profit and sustainability rules relating to the rolling three-year periods that included the 2021-22 and 2022-23 seasons.

In January, the Premier League confirmed that all clubs, Everton included, met the financial compliance requirements for the 2023-24 season, and no further sanctions would be applied.

According to the profit and sustainability regulations, clubs can incur a maximum loss of £105 million over a three-year period.

Everton’s reported three-year losses amount to £187 million; however, allowances for investments in infrastructure, youth development, and women’s football have enabled them to remain compliant.

This month, Everton secured a long-term financing agreement for their new stadium, which has a capacity of 52,888. They secured £350 million in funding to refinance existing loans related to the venue, which is expected to be completed ahead of the 2025-26 season.

The financial landscape of the club has shifted dramatically since the Texan-based Friedkin Group acquired it in December for £400 million, thereby concluding Farhad Moshiri’s eight-year ownership and converting his loans into equity.

In January, Everton reinstated David Moyes as manager to replace Sean Dyche. Currently, they remain unbeaten in their last nine Premier League matches and are positioned 15th, sitting 17 points clear of the relegation zone.