£120.9m Everton losses before Rafael Benitez, Frank Lampard and Alisher Usmanov impact
The £120.9million losses announced by Everton in their most recent accounts don’t even include various major expenses says Alan Myers.
Covid-19 has been pointed to as the major driver for a third year running where the accounts have shown a loss of over £100million, with the club assuring that they are “in a secure financial position” thanks to Farhad Moshiri’s commitment.
But the figures released today do not take into account anything from the disastrous season the club are currently in, so things are not necessarily predicted to improve soon.
Sky Sports’ Alan Myers wrote on Twitter in response to the announcement: “Worth noting that these accounts do not include any compensation payment for [Carlo] Ancelotti, cost of [Rafael] Benitez or [Frank] Lampard changes or impact of USM sponsorship suspension”.
The only potential positive, payment from Real Madrid for Ancelotti, actually would have been included in the losses announced today as he resigned at the start of June, the last month these accounts cover.
Never ends
Toffees fans would be forgiven for fatigue at the constant negative developments at the club.
It feels like the risks and worries drag on far into the future, and with the mess that this season has become, they could.
The cost of cutting the losses of the unpopular decision to make Benitez manager will not be cheap, as he was little more than six months in to a three-year deal.
Unless he gets work elsewhere soon, the balance of that contract will need to be paid out, and new boss Lampard has brought a significant coaching staff.
Big names like Paul Clement and Ashley Cole, along with the retention of Duncan Ferguson could easily cost more than usual.
And the huge hole that the USM sponsorship has left, after Alisher Usmanov’s sanctions led to the club cutting ties, is probably the biggest issue of all.
Unless that is replaced soon, and the Financial Times recently reported the club were struggling on that front, the losses will be significant again next year.
That is assuming Premier League survival is secured, as relegation will require a large scale operation of jettisoning expensive players and staff in a desperate attempt to secure the club’s future.
So, unfortunately there doesn’t appear to be a massive amount of positive news on the horizon at the moment.
In other Everton news, the club have followed the Chelsea route without the trophies, and run the risk of a Roman Abramovich-style emergency.
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