Everton fans are very much looking forward a new chapter at the club following the takeover by The Friedkin Group last December.
After years of turbulence during the Farhad Moshiri reign, Evertonians now get to dream big, with TFG the new captains of the ship.
It’s been a fairly low key start for them so far.
The most significant decision they have made is replacing Sean Dyche with David Moyes.
That appointment has worked out remarkably well and as a result, Everton are already now looking ahead to next season, which will see the club move into the new stadium at Bramley-Moore Dock.
Today, Everton released their financial accounts for the 2023/24 season.
The club lost £53.2 million for the 12 months up to July 2024, which is an improvement on the £89.1 million lost the season before.
But while that sounds like a big loss, Colin Chong has moved to assure supporters about the figures.
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Colin Chong puts positive spin on Everton’s 2023/24 figures and shares what is ‘not reflected’
Photo by Chris Brunskill/Fantasista/Getty Images
Photo by Chris Brunskill/Fantasista/Getty Images
The figures for 2023/24 are not a good reflection on Moshiri.
It is clear to see that the club were troubled financially right to the very end of his reign.
The goal for The Friedkin Group will be to improve Everton’s financial situation by making savvy decisions. Hopefully, this club will not have to go through times such as the last few years again any time soon.
As part of the club releasing their accounts today, the Toffees also shared some quotes from interim CEO Colin Chong.
And he makes it clear that since that previous accounting period and since TFG came in, the financial situation is much better.
He said: “Since the accounting period ended, the takeover process has resulted in a significant strengthening of our financial platform – something that is not reflected in these figures but has already made a major impact on our long-term stability.
“Despite the challenges we have faced in recent years, and during the accounting period covered by these accounts, the hard work of everyone across the Club – on and off the pitch – has ensured we have continued to move forward. That is particularly true of the progress on Everton Stadium, a project that was maintained at pace. The commitment to delivering our new home, while continuing to navigate a complex financial landscape, has been exceptional.
“With new ownership, a world-class stadium opening at the start of the 2025/26 season, and a clear plan for ongoing sustainability, we can approach the next chapter of our Club’s future with confidence.”
Everton fans will expect a strong summer
This is a positive verdict from Chong about Everton’s new financial situation.
The Toffees have had to be very careful of PSF in recent times and money has been tight.
Some terrible recruitment decisions were made on Moshiri’s watch, and the club have been stung as a result.
But seemingly there will be a chance for Everton to release the purse strings a bit more this summer, as TFG oversee their first major window.
And fans will be hoping to see some exciting names walk through the door at BMD.
That said, TFG will be very mindful of the struggles the club have had and not want to splashing cash here there and everyone. We’ve seen a measured approach so far, and that will likely continue this summer.