Everton Suffers Hefty £89.1 Million Loss for 2022-23 Season; New Takeover Anticipated

The Premier League's Everton club reported a significant loss of £89.1 million ($112 million) for the 2022-23 season. This figure marks a substantial increase from the £44.7 million deficit recorded during the 2021-22 season. The club cited the indefinite suspension of sponsorship deals with main commercial partners as the reason for the increased loss.

Everton's latest financial accounts come amidst heavy scrutiny over the club's finances and substantial investments being made in a new stadium. Against this backdrop, the club is awaiting verdicts for a second charge for breaching the Premier League's Profitability and Sustainability Rules (PSR) before April 8th. Under these regulations, clubs can incur a maximum loss of £105 million in a three-season period, or £35 million per campaign, before sanctions apply. Everton could potentially face additional points deduction, adding to the six points they lost over alleged breaches related to the 2021-22 season.

Despite the financial challenges and a 2-1 defeat to Bournemouth on Saturday, Farhad Moshiri, the club's majority shareholder, remains positive. He is confident that the proposed takeover by 777 Partners, which has been a protracted process, will be finalized soon. Currently, Everton ranks 16th on the Premier League table, sitting just three points above the relegation zone with nine games remaining.