Everton Football Club have reported a loss of more than £50m in their latest accounts despite increased turnover. But the club, who will start next season in a new landmark waterfront stadium, hailed their significantly strengthened financial position following the takeover by The Friedkin Group.
In accounts for the 2023/24 season, the club recorded a £14.7m increase in turnover to £186.9m but posted a loss of £53.2m for the financial period.
The results for the period ending 30 June 2024 show a reduction in reported losses, down from £89.1m.
During the period Everton continued funding the development of their new stadium at Bramley-Moore Dock, incurring capital costs of £312.7m, compared to £210.9m in the previous year.
The Premier League club enjoyed commercial growth with
sponsorship, advertising, and merchandising revenue increasing to £21.6m—a £2.4m uplift - driven by new and renewed partnerships with Ticketmaster, eToro, FIGS, and Kick.
Other commercial revenue totalled £17m, down £2.7m due to the absence of a mid-season international tour - unlike the 2022/23 trip to Australia during the Premier League World Cup break.
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Broadcast revenue meanwhile Increased by £13.2m to £129.2m, reflecting higher merit-based prize money, live match facility fees, and international TV rights.
A £48.5m profit was generated from player trading activities while gate receipts rose to £19.1m, an increase of £1.8m, with 19 home Premier League fixtures and additional domestic cup ties compared to the previous year.
Exceptional costs of £10.4m were incurred due to refinancing of debt facilities and costs associated with regulatory matters.
Post balance sheet events within the accounts, which took place upon Roundhouse Capital Holdings Limited, an entity with The Friedkin Group, taking control of the Club in December, were said to show Everton has completed comprehensive refinancing and repayment of existing borrowings.
Additionally, the interest-free shareholder loan from Bluesky Capital Limited has been converted into equity, strengthening the Club’s balance sheet.
Everton have also finalised an agreement on stadium financing, marking the final step in an extensive capital restructuring process.
Everton’s interim chief executive Colin Chong 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 FC post loss in year leading up to takeover - but club upbeat for future ahead of move to landmark new stadium
Everton are set to play at Bramley Moore Dock from next season (Image credit: EFC)