Everton has announced significant financial losses for the 2022-23 season, putting pressure on the club to sell players. They face potential punishment for breaching financial regulations.
Last week, Everton announced that they lost £89.1 million in the 2022-23 season, a significant increase from the £44.7 million loss in the previous campaign. The club had borrowed nearly £200 million for running costs, and if the loan falls through or if they get relegated, there will be additional pressure on Everton to sell players. By 30 June, clubs must submit their financial accounts, which means that Everton will have to sell players by then to avoid further punishment.
In November, they faced a 10-point deduction for exceeding the allowable £105 million losses over the three-year period. Although their first sanction was reduced to a six-point deduction after an appeal, Everton still has a pending charge for a breach related to their 2022-23 accounts. The verdict by an independent commission will be announced on Monday (8 April)
Everton Financial Losses Player Sales Punishment Breach Financial Regulations
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Everton fan Tony Bellew wants Man City to be sent to the Conference for financial chargesFormer WBC Cruiserweight champion, Bellew was left seething by the Premier League’s decision to dock his beloved Everton ten points, before later being reduced to six, for breaching profit and sustainability rules.
Read more »
Financial expert explains how Everton could be plunged into administration...Football finance expert Stefan Borson speculates on what Everton and Nottingham Forest’s fate could be as potential points deductions loom
Read more »
Lanarkshire Mind Matters launches Money Worries to address financial challengesKey modules in the programme include understanding the link between money problems and mental health, developing new coping mechanisms, confronting financial fears, and learning budgeting techniques.
Read more »
Everton's accounts reveal significant financial lossThe publication of Everton’s accounts on Sunday will have piqued the interest of Nottingham Forest fans. Forest have been deducted four points for breaching Profitability and Sustainability Rules but are appealing against the sanction. Everton were docked 10 points earlier in the campaign but are facing a second PSR charge. The figures showed the Toffees lost £89.1 million.
Read more »
Everton financial questions answered as huge-Barrett-Baxendale payoff revealedEverton accounts: key questions answered after a set of accounts that included major losses for the Blues
Read more »
UK Data Protection Bill Faces Challenges in ParliamentThe UK government's second attempt to reform the data protection regime faces challenges in Parliament. The bill aims to create a business-friendly data protection regime while upholding individuals' rights.
Read more »