Launched on Easter Sunday at 6pm, right before a crucial Premier League match, Everton seemed to be hoping that their financial accounts for the 2022-23 season would go unnoticed. But their hopes were dashed when football finance expert Kieran Maguire’s tweet highlighting their dire financial state gained over a million views.
Speaking to Maguire revealed a grim picture painted by Everton’s numbers. Their revenue had dropped by five percent to £172m, the lowest since the 2016-17 season. A major factor in this decline was the absence of revenue from Usmanov’s USM Holdings following sanctions. Additionally, despite their struggles on the pitch, Everton’s wage budget remained high at £159m.
Major one-time expenses like sacking Frank Lampard and paying off former CEO Denise Barrett-Baxendale contributed to a pre-tax loss of £89m, placing Everton among the top twenty losses in Premier League history. This loss, combined with their ongoing financial struggles, put them at risk of a second points deduction, which Maguire believed to be inevitable.
The possibility of relegation loomed large for Everton, with their precarious financial situation making their Premier League status even more uncertain. Without significant changes, including potentially selling key players, relegation could further worsen Everton’s financial woes.
