Finance expert: Heads scratched over £372m Everton reveal
Football finance expert Kieran Maguire has been left perplexed with how Everton have got away with losing £372million in the three years leading up to the end of 2021.
The Premier League’s financial fair play rules mean clubs are only allowed to lose £105million. However, special allowances were allowed due to the impact of Covid.
Maguire has been left at a loss after looking at other clubs’ accounts, where there has only been £50million lost revenue in ticket sales.
“Looking at the numbers for Everton in the three years leading up to the end of 2021, Everton lost £372million and you’re only allowed to lose £105million before you’re in breach of financial fair play,” said Maguire (The Price of Football Podcast, 03m 30s, 29 December).
“So clearly that is a significant gap, the Premier League have made some adjustments and they have said that they would allow clubs to put through special allowances due to the impact of Covid.
“There has been a lot of head-scratching, especially when you look at the accounts of other clubs where there has only been £50million of lost revenues in ticket sales and Everton normally make about £15million in ticket sales.”
On the edge
Whether Evertonians like it or not, there’s a chance for Toffees could well be investigated in the future. Everton have lost over £160million more than they should have, and it’s understandable to see why there was some anger from the relegated Premier League clubs.
There was a strong suggestion in the summer that Burnley were going to take Everton to court over their breach of financial fair play, with the Clarets eventually falling into the Championship at the end of the 2021/22 season.
Furthermore, the new stadium on Bramley-Moore Dock throws added confusion into the Toffees’ current financial situation behind the scenes at Goodison Park.
It’s clear a new owner is desperately needed to clean the slate on Merseyside, but at the moment, the financial wranglings occurring at the club don’t make Everton look like an extremely attractive proposition for any potential investor.
It’s time for the board to provide some clear and concise answers concerning the huge losses that Everton have made in recent times.