Everton make £6.7m loss

Despite announcing a record turnover Toffees make operating loss

By Richard Bailey   Last updated: 1st December 2009   Subscribe to RSS Feed

Everton make £6.7m loss

Kenwright: Remains upbeat

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Everton have released figures showing that the club made an operating loss of £6.7million for the year ending 31st May 2009.

It comes as another blow to the Toffees after their proposed move to Kirby, in a joint venture with Tesco, was rejected by the Liverpool Council last week.

The news comes despite the club making a record £79.7million turnover, £4million up from last year, but higher player wages resulted in the loss.

The disappointing news off the field came after Everton put together another solid season on the pitch having finished fifth in the Premier League and making it to the FA Cup final.

Despite the loss Toffees chairman Bill Kenwright has vowed to continue to back manager David Moyes as much as he can in the transfer market.

"As has always been the case, David Moyes was fully supported by myself and by my fellow board members," he said in a statement.

"He remains the single most important figure at the club and we all strive - on a daily basis - to provide him with the tools he believes are necessary if we are to continue to evolve and develop into a genuine, meaningful force within both English and European football."

Hugely satisfying

Kenwright also went on to state that the financial position of the club should not detract attention away from the good work done by Moyes on the pitch.

"Our wonderful FA Cup run quite possibly deflected attention from what was another hugely satisfying Premier League campaign," he added.

"To again finish fifth in what remains Europe's toughest and most unforgiving league was a magnificent achievement - one which guaranteed another European campaign to continue the steady progress which has hallmarked David Moyes' tenure as manager.

"Maintaining our progress, continuing to punch above our weight if you like, will be very difficult but I stand by my assertion that we have a manager who will go down as one of our all-time greats and a squad of players that is amongst our very best over the last two decades."

Everton generated £21.9million from match tickets and hospitality while £48.6million was raised from television revenue - the Toffees were live on TV a record 17 times last term.

This resulted in an operating profit of £6.3million but after the paying back of £13million worth of player registrations, turned into a loss of £6.7million.

Comments (4)

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Dave Squires (Everton fan) says...

I hate to say it but, bye bye Jack Rodwell! This is the price we pay for being the peoples club, not a sell out club!!

Posted 13:53 1st December 2009

Michael Tuckwell (Sunderland fan) says...

I feel for them there one of the only premier league teams that did'nt sell out to some foriegn investors and still seemed to be doing good but with the dip in form and financial losses it is'nt looking to good next they will have to sell some star players to recouperate money lost and if they are not careful they could 'do a Leeds' which would be a shame because Everton are one of the sides you cannot imagine the league to be without.

Posted 13:03 1st December 2009

John Stewart (Manchester United fan) says...

Just goes to show the precarous nature of all our clubs when one who announces record profits still posts a loss at the end of the day, EVERY club starting with the cream of Europe needs to start trying to reduce todays rediculous player demands. But as long as one or two clubs are willing to continue the others have to try and follow suit as ALL fans naturaly crave success, people have been saying for long enough its a house of cards and i think the day is coming very close with all the new investors with seemingless endless amounts of money those with limited funding will only die off trying to chase the dream. Right now Sky Sports is whats keeping them afloat, they and the EPL are too codependant if one gets into trouble the other will too. Its used to be churches everywhere was being bought up to be made into pubs now our stadiums are being bought to become supermarkets and not just in Liverpool. this is just not right.

Posted 12:39 1st December 2009

Smudge Smith (Everton fan) says...

Better to be in Evertons's position then be 285 million in the red, as the red side of merseyside are!!!!

Posted 12:23 1st December 2009
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