Everton set to release accounts in near future, smashed by COVID again
Everton are set to release their accounts for the latest financial year before the end of December this year, and big losses are expected again.
The Liverpool Echo has shared that COVID-19 has once again taken its toll on the club, and losses similar to the near £140million last time out are expected again.
Television rebates and games without fans are big reasons behind that, but the Premier League is said to be “tweaked” to take the virus into consideration.
Writing in their latest report, the Echo has shared what to expect with the accounts out by the end of the month.
“Everton posted a club-record £139.9m loss in the accounts covering the 2019-20 season.
“The Blues’ losses were compounded by the impact of Covid which, the club said, contributed to £67.3m of that amount.
“Everton’s accounts are expected to, once again, show how Covid has hit the club, with games without fans and television rebates among the factors that could dent turnover.
“The Premier League said that profit and sustainability rules would be tweaked to allow for the impacts of COVID.”
Here we go, again.
It is hard to see where the losses are going to stop.
Farhad Moshiri has clearly been reckless with his spending in recent years, and it has brought nothing close to success along the way.
In turn, the Financial Fair Play rules have also caught up with the club and stopped any serious business in the summer window.
With a move for Vitaliy Mykolenko looking set for January, offloading the likes of James Rodriguez and Moise Kean has clearly helped.
It looks as though another worrying set of numbers are going to come out, and if not addressed, it will become a massive problem – COVID-19 or not.
Moshiri needs to take some responsibility and become transparent with the fans at Goodison Park, it’s the least they deserve after years of turmoil.
In other Everton news, this BT Sports pundit was left stunned by what one Toffees ace did in the 1-1 draw against Chelsea
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