LIVERPOOL, England (AP) – Premier League club Everton on Sunday reported a loss of 89.1 million pounds ($112.5 million) in its latest financial results.
Losses for the 2022-23 season increased from £44.7m the previous season.
The Merseyside club received a six-point penalty for breaching Premier League financial regulations earlier this season and is awaiting further punishment for further breaches. Everton are 16th in the 20-team EPL, three points above the relegation zone.
In a statement, Everton cited the “indefinite suspension of key commercial partnerships” as an accounting factor.
In 2022, Everton suspended a major sponsorship deal with the company of Russian metal tycoon Alisher Usmanov, who is under sanctions from the European Union. The move was made in response to Russia's invasion of Ukraine.
This loss came despite Everton's financial statements showing a profit of 47.5 million pounds (approximately $60 million) from player transfers.
Everton announced that their net debt had increased to £330.6 million ($417 million) due to “significant investment” in their new stadium.
Sales were 172.2 million pounds ($217.5 million).
Under league rules, clubs can forfeit up to 105 million pounds ($133 million) over three years or face sanctions.
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