Everton announce £89.1m losses for 2022/23 season

Everton, a struggling team in the Premier League, disclosed a financial loss of £89.1 million for the 2022/23 season in their most recent financial statements released on Sunday.

Everton's financial losses saw a significant rise from the 2021/22 season, with their accounts indicating a deficit of £44.7 million.

The club has attributed this increase to the suspension of sponsorship deals with key commercial partners.

The latest financial reports also highlight substantial investments in the construction of a new stadium, all while the club's financial situation is being closely monitored.

Everton is awaiting a decision on a second charge of breaching the Premier League's financial rules, which could result in further points deductions on top of the six already incurred.

According to the PSR regulations, clubs can only incur a maximum loss of £105 million over a three-season period, or £35 million per season, before facing penalties.

Following a 2-1 defeat to Bournemouth, Everton currently sits in 16th place in the Premier League standings, just three points above the relegation zone with nine games remaining.

Majority shareholder Farhad Moshiri, who has faced criticism, expressed confidence that the club's takeover by 777 Partners will be finalized soon.