Everton Football Club has published its Annual Report and Accounts for the 2023-24 season, recording a £14.7 million increase in turnover to £186.9 million, and posting a loss of £53.2 million for the financial period.
The results for the period ending June 30, 2024, show a reduction in reported losses, down from £89.1 million in 2022-23.
The club reported a “Net Debt Position” increased to £567.3 million “reflecting investment in the squad, stadium development, and operational costs.”
Everton said it continued funding the development of its new stadium at Bramley-Moore Dock, incurring capital costs of £312.7 million, compared to £210.9 million in the previous year.
Sponsorship, advertising, and merchandising revenue increased to £21.6 million — a £2.4 million rise — driven by new and renewed partnerships with Ticketmaster, eToro, FIGS, and Kick.
Other commercial revenue totalled £17 million, down £2.7 million “due to the absence of a mid-season international tour – unlike the 2022/23 trip to Australia during the Premier League World Cup break.”
Broadcast revenue increased by £13.2 million to £129.2 million “reflecting higher merit-based prize money, live match facility fees, and international TV rights.”
Wage-to-Turnover Ratio fell from 89% to 81% — taking into consideration outsourcing of retail and catering operations — “demonstrating the club’s commitment to financial sustainability while maintaining a competitive squad.”
In player trading, Everton said a £48.5 million profit was generated.
Gate receipts rose to £19.1 million, an increase of £1.8 million, with 19 home Premier League fixtures and additional domestic cup ties compared to the previous year.
Exceptional costs of £10.4 million were incurred “due to refinancing of debt facilities and costs associated with regulatory matters.”
Everton added: “Post balance sheet events within the accounts, which took place upon Roundhouse Capital Holdings Limited, an entity with The Friedkin Group, taking control of the club in December, show Everton has completed comprehensive refinancing and repayment of existing borrowings.
“Additionally, the interest-free shareholder loan from Bluesky Capital Limited has been converted into equity, significantly strengthening the club’s balance sheet.
“Furthermore, Everton has finalised an agreement on stadium financing, marking the final step in an extensive capital restructuring process. These measures establish a stable and sustainable foundation as the club moves forward.”
Everton’s Interim Chief Executive Colin Chong said: “Since the accounting period ended, the takeover process has resulted in a significant strengthening of our financial platform—something that is not reflected in these figures but has already made a major impact on our long-term stability.
“Despite the challenges we have faced in recent years, and during the accounting period covered by these accounts, the hard work of everyone across the club — on and off the pitch — has ensured we have continued to move forward.
“That is particularly true of the progress on Everton Stadium, a project that was maintained at pace. The commitment to delivering our new home, while continuing to navigate a complex financial landscape, has been exceptional.
“With new ownership, a world-class stadium opening at the start of the 2025/26 season, and a clear plan for ongoing sustainability, we can approach the next chapter of our club’s future with confidence.”