Everton set to suffer £56m ‘financial black hole’ if relegated
Everton are facing ‘whopping’ losses of £56m if they are relegated from the Premier League this season, according to The Mirror.
The Toffees currently sit two points above the relegation zone with two games to play, meaning a win against Crystal Palace on Thursday [May 19] will see them mathematically safe from the drop.
However anything less means they could be dragged down to the Championship on the final day of the season if results go against them and according to The Mirror that would mean £55.6m of losses to hit their accounts next year.
In a fresh report [May 18], The Mirror are quoted as saying;
“Clubs demoted from the top flight between 2016/17 and 2019/20 – last season hasn’t been included due to the impact of the Covid-19 pandemic – saw their turnovers drop by an average of £55.6m in the season immediately following relegation.
“That works out as a drop of 45 per cent on average. The biggest fall in income source was from broadcasting. Broadcast revenues dropped by an average of £43.8m
Commercial revenue dropped by an average of £7.5m for clubs in that first season outside the top flight, while matchday income dropped by an average of £2.5m.”
Unimaginable
Losing money hasn’t exactly been something that doesn’t happen at Goodison Park in recent years, but what these losses would do to the club alongside relegation is totally unimaginable.
With a new stadium on the way, it’s only right that fans will worry about the long term future of the club despite the assurances of the board that finances have already been planned for separately.
Key players would be forced to leave the club in order to generate money, and that would in turn make it infinitely harder to get back to the Premier League quickly and become a mainstay once again.
Farhad Moshiri has already injected hundreds of millions of pounds into the club and the likelihood of him sticking around and doing more is slim at this point, especially considering the contempt fans hold him in already.
It’s just a horrible mess that can easily be avoided for another season at least with a win on Thursday night against Palace, so lets get behind the team and get the job done so we don’t need to worry about it anymore.
In other Everton news, Paul Parker expects Donny Van de Beek to leave Everton after loan ends, will flourish at Manchester United
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