Everton suffer increased losses after failing to make European competition
Saturday 17 December 2016 14:13, UK
Everton have announced post-tax losses of £24.3million after what has been described as a "challenging year" for the Premier League club.
The increased loss, nearly £20m higher than the results posted for the 2014-15 season, has been blamed on Everton's failure to make it into European competition in their final season under Roberto Martinez.
Everton, who are preparing for their Mersey Monday clash with Liverpool, were however able to post the second-highest turnover in the club's history, bringing in £121.5m which was only £4.1m less than their record-breaking previous 12 months.
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The club's chief executive officer Robert Elstone said: "The results reflect a challenging year for the club.
"Performance on the pitch directly impacted commercial income with key deals reduced as a result of the club's finishing position.
"We also lost out on European revenues, directly from UEFA, from our partners by way of performance bonuses and, of course, gate receipts. Despite the challenges, we are pleased to be able to report the second highest level of turnover in the club's history.
"Looking forward, for the first time in as long as we can remember, in 2016-17, there is a good chance that Goodison Park will be full for every game.
"We are also benefiting from the increased revenues under the significant new broadcast deal. And, as we always do, we will also continue to look for growth in all areas, in particular, as we approach the mid-point of the final year of the current Chang partnership, with a clear focus on our main sponsor opportunity."
