Everton Reports £53M Loss Amid Financial Progress, Stadium Development

Everton Football Club has reported a pre-tax loss of £53.2 million for the 2023/24 season, marking the seventh consecutive year of losses but a significant improvement from the previous year's £89.1 million deficit. The club attributed this reduction to increased turnover, which rose to £186.9 million, driven by higher sponsorship, advertising, and broadcasting revenues. Despite the ongoing financial struggles, Everton will avoid further sanctions under the Premier League's profit and sustainability rules due to allowable deductions for investments in infrastructure, youth development, and women's football. The club is preparing to move into its new £800 million stadium at Bramley-Moore Dock, with substantial capital costs of £312.7 million incurred this year. Following the takeover by The Friedkin Group, Everton expects to achieve long-term stability and has restructured debt, including converting previous shareholder loans into equity. Overall, while the club's financial health remains precarious, there are signs of progress under new ownership as they aim for a more sustainable future.