Everton Football Club has released its annual report and accounts for the 2022/23 season.
The accounts show the Club recorded a turnover of £172.2m, a fall of £8.9m against 2021/22 figures, with the key contributory factor being the indefinite suspension of key commercial partnerships worth more than £20m. A statutory loss of £89.1m was recorded for 2022/23.
Other key points within the 2022/2023 report and accounts include:
– Everton’s continued commitment in providing significant funds to develop the new stadium, with capital costs of £210.9m incurred during this financial year.
– The Club generated £47.5m profit on player trading.
– Sponsorship, advertising and commercial income totalled £19.2m for the season. In the partnership categories available for the Club to sell, revenue increased year-on-year, due to enhanced renewals and significant new agreements with Stake, Boxt, Christopher Ward and Marc Darcy. However, partnership income was significantly impacted by factors outside the Club’s control through the loss of £20m of contracted income because of the indefinitely suspended deals with USM, Megafon and Yota. Due to the nature of the suspension, the Club was unable to replace the partnership income against these deals.
– Other commercial revenue totalled £19.7m, a £4.4m uplift on 2021/22. This revenue included income from USA and Australia pre- and mid-season tours.
– Matchday gate receipts increased by £1.7m.
– Total broadcast revenue increased by £0.9m due to an uplift in the international merit prize money per place, netted against slight overall reductions in the equal share elements of both the UK and International TV revenue.
– Although wage expenditure has fallen, there has been an increase in operating expenses, includingcosts of pre- and mid-season fixtures in USA and Australia respectively (both yielding commercial income), settlements for departed coaching staff and Directors and increased new stadium operational expenditure.
– The Club’s net debt position increased to £330.6m because of significant investment in the Everton Stadium project.
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