Everton financial questions answered as huge Denise Barrett-Baxendale payoff revealed in accounts
Everton recorded a loss of £89.1m for the 12 months up to July of last year.
The figure, revealed in the club’s accounts when they were released on Sunday night, offered a troubling insight into the state of the club’s finances as losses and debt both rose substantially on the previous year.
With this set of accounts having already been the subject of debate at the hearing over Everton’s alleged second breach of Premier League spending rules, which took place last week, these numbers will have a direct impact on the fight against relegation this season.
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With that in mind, the ECHO offers an overview of the key numbers and factors within the 40 page document.
Impact of suspending deals after Russia’s invasion of Ukraine
Everton recorded a turnover of £172.2m, down by £8.8m on the previous year. This decrease reflected a difficult picture on the commercial front. There was a £15.8m fall in sponsorship, advertising and merchandising income - a figure largely influenced by the club taking the proactive decision to suspend its sponsorship deals with the Alisher Usmanov linked companies following Russia’s invasion of Ukraine. The nature of the move left the club unable to seek replacement deals, but some of the roughly £20m loss attributed to the decision was offset by the benefits from partnerships with the likes of shirt sponsor Stake, sleeve sponsor Boxt, and Marc Darcy and Christopher Ward.
There was a £4.4m rise stemming from other commercial activities, including fees for the squad trips to the USA, where Everton played Arsenal and Minnesota United, and Australia,
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