Everton

2022 - 7 - 17

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Image courtesy of "Liverpool Echo"

Stark £287m figure shows Everton the size of financial task ahead (Liverpool Echo)

Everton have accrued the highest economic losses in the Premier League over the two pandemic affected seasons, new research has found.

Until a business turns a profit greater than the cost of its capital then it is a business that runs at a loss. Those losses have been a continued thorn in Everton's side as they have had to implement some austerity measures at the club due to risk of breaching the Premier League's profit and sustainability rules. The breakdown of the two seasons for Everton saw them make economic losses of £156.3m in 2019/20 (second highest) and £130.6m (fourth highest) in 2020/21. Combined, the Premier League made economic losses of £2.25bn, with only Wolverhampton Wanderers (£90.3m economic profit) and Sheffield United (£21m economic profit) in the black from those two seasons following the pandemic. Finance experts at value analysis firm Vysyble have looked at the finances of the Premier League over the two Covid-impacted seasons and compiled a full list of where the clubs rank, with Everton having seen the worst economic losses of any team in the league that played both the 2019/20 and 2020/21 campaigns in English footballs top flight. The impact of those two seasons was shown when the club published their audited financial accounts for those two years, with the two seasons seeing losses of £139.9m in 2019/20 and £120.9m for 2020/21, cumulative losses for the two seasons standing at £260.8m.

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Image courtesy of "Liverpool Echo"

Everton paid £500k to Liverpool Council out of goodwill (Liverpool Echo)

Letters reveal Everton were not legally obliged to pay hundreds of thousands of pounds to Liverpool City Council.

Everton agreed to pay £502,000 of the £841,000 incurred by the council. Correspondence seen by the ECHO has revealed that Everton made an offer to pay a share of the fees in October 2019. A joint statement released on behalf of the council and the club stated that Everton agreed to pay the money. There is no suggestion of wrongdoing in relation to Everton's involvement in this matter. The negotiations took place during a series of meetings and letters. The offer cannot however be construed as having any contractual force given that it was made on a without prejudice basis; it was never accepted; and, in any event, was conditional on a loan being advanced by LCC."

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Image courtesy of "Liverpool Echo"

Everton new stadium evolution continues as latest incredible ... (Liverpool Echo)

The latest drone footage from Everton's new stadium build at Bramley-Moore Dock has displayed the latest exciting signs of progression for the area.

The latticework of steelwork continues to grow adjacent to the south west core, along with a similar structure expected to start soon in the south east corner. Construction has continued apace throughout the last 12 months as Everton have turned a disused dock into a hive of activity. Later this month, the Blues will have been officially on site for 12 months, with recent weeks in particular showing incredible progress being made.

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