Former Everton sponsors Cazoo made £191m in losses in 2021 – Kieran Maguire
Former Everton sponsors Cazoo made significant losses in 2021, which finance expert Kieran Maguire has revealed were £191million.
The company, which has now pulled out of Europe, were the club’s main sponsor and the Toffees failed to reach an agreement over a new deal.
This saw Stake.com becoming their front of shirt sponsor for the 2022-23 campaign.
Via Twitter, Maguire wrote, “Cazoo, which was briefly Everton shirt sponsor and pulled out of Europe a couple of months ago, lost £191m in 2021 taking total losses to £270m in less than three years of trading. Over a third of the wage bill was paid in share options.”
For the best?
Cazoo have pulled out of Europe and despite being the sponsors of Aston Villa, they appear to have ceased operations in the continent.
It’s a good thing that Everton moved to a different sponsor as Cazoo are now operating in losses and are no longer the company they once were.
For the Toffees and their financial struggles, it’s important that they get these things right and now move ahead with their new partners.
Everton need to get things right off the pitch before they move into a new stadium and we cannot wait to see how it all transpires.
On the pitch, things have relatively improved but it’s redundant if there’s not a proper structure in place behind the scenes.
We’re hoping that if Farhad Moshiri goes, the new owners sort out the mess as soon as possible and help the club reach their potential.