Everton Report Seventh Consecutive Year Of Financial Losses, Avoid PSR Breaches

‎Everton announced on Monday that they incurred a loss of £53 million ($68.44 million) in the 2023-24 season, marking their seventh consecutive year in the red.

‎However, the Premier League club confirmed that they will not breach the league’s profit and sustainability regulations.

‎Despite Everton reporting an improvement from the 89.1 million pounds deficit recorded the previous year, the club’s losses over the last seven years total 570 million pounds.

‎Last season, Everton was penalized with an eight-point deduction for breaching Profit and Sustainability Regulations (PSR) across the 2021-22 and 2022-23 periods.

‎In January, the league confirmed that all clubs, including Everton, were financially compliant for the 2023-24 season. As a result, no additional charges would be brought against any clubs.

‎Under PSR regulations, clubs are allowed a maximum loss of 105 million pounds over three years.

‎Everton’s reported three-year losses stand at 187 million pounds, but exemptions for investment in infrastructure, youth development, and women’s football helped them remain compliant.

‎This month, Everton finalized a long-term financing agreement for their new stadium, which will have a capacity of 52,888. The club secured £350 million in funding to refinance existing loans for the venue, where they are set to relocate for the 2025-26 season.

‎The club’s finances have been transformed since the Texas-based Friedkin Group’s 400 million pounds takeover in December, which ended Farhad Moshiri’s eight-year tenure and converted his shareholder loans into equity.

‎Everton reappointed David Moyes as manager to replace Sean Dyche in January.

‎They are unbeaten in nine Premier League matches, sitting 15th, 17 points above the relegation zone.