It’s shown that the Toffees are spending 92% of what they earn on wages alone before considering all the other overheads to run a football club.e
A statutory loss of £89.1million was recorded for the 2022/23 campaign with Farhad Moshiri still in charge.
Via Twitter, O Keefe wrote: “92% of all revenue spent on wages before you’ve even turned the lights on. Absolute madness.”
Finances go from bad to worse for Everton
The financial figures released for the 2022/23 season paint a grim picture, adding to the concerns of the Toffees fans.
The club reported a staggering £89.1million loss, almost doubling the previous year’s loss, with the sixth consecutive season in the red.
Their debt has soared to £330.6 million, largely driven by substantial investment in their new stadium project.
Moreover, the wage-to-turnover ratio has escalated to a worrying 92%, indicating that the club is spending almost all its revenue on player salaries alone.
Operating expenses have risen, while the absence of a Premier League win since mid-December compounds the on-field struggles with dire financial realities.
The suspension of key commercial partnerships, including lucrative deals with USM and affiliates, has further exacerbated Everton’s financial plight.
With ongoing uncertainties surrounding the prospective takeover by 777 Partners, things just seem to be getting from bad to worse.
In other Everton news, the documents related to a Toffees first-team player are on the table of a Champions League club with a summer exit on the cards.
