There remains a material uncertainty about Everton’s ability to operate as a going concern should the club be relegated.
The fear, which matches the status recorded last year, is the most significant line in a damning set of accounts that raise further questions about how the club has been governed in recent years.
It follows a financial year in which the club recorded an underlying loss of just over £89m - almost twice the £44.7m deficit of the previous year.
There are some mitigating circumstances, namely the impact of the club suspending its sponsorship deals with Russia-linked companies following the country’s invasion of Ukraine. Substantial progress has also been made on the club’s new waterfront stadium.
Andoni Iraola spotted another penalty incident as Everton VAR explanation made
Sean Dyche sends defiant message after Everton's 12th game without a win
But there is little hiding from the grim reality of a set of numbers that show Everton is a club in substantial debt and a heightened state of financial vulnerability.
The loss takes Everton to a cumulative deficit of around £500m over the past five years, though that includes the significant impact of the Covid-19 pandemic on club finances. The latest figures, which cover the 12 months to July 2023, come despite apparent efforts to improve the club’s financial position that have seen the playing squad weakened and the sale of high-profile players in a failed bid to comply with Premier League spending rules.
The 2022 financial year saw a loss of just over £44m, recorded despite a summer of low spending and the sale of Richarlison late in the accounting period. Despite that, Everton still breached profit and sustainability regulations, leading to the 10 point
Read on liverpoolecho.co.uk