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Post by Avinalaff on Mar 31, 2024 18:34:20 GMT
I can't see myself following football for much longer. It ain't about the football anymore- it is a money making business - football as we once knew it has been ruined. Something really dark has happened to our club. I'm starting to hate everything associated with Everton. The football is bad enough, but the way the club has been run is unacceptable yet nobody has been held to account. It feels like we've been used to launder money, then thrown to the kerb when it all went tits up. Over 50 years a fan, but you get to a point when you realise you haven't got long, and there's better ways to spend what's left.
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Post by Everton News. on Mar 31, 2024 18:41:41 GMT
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, including costs 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.
Everton FC
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Post by rugbytoffee on Apr 1, 2024 17:21:35 GMT
One complete mess on and off the pitch.
A major re-build is needed and possibly relegation will be the trigger.
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Post by rugbytoffee on Apr 2, 2024 9:55:44 GMT
Everton’s financial predicaments have taken centre stage as the club disclosed a staggering £89.1million loss for the 2022-2023 season, nearly doubling the deficit from the prior year. This revelation, meticulously detailed by The Athletic, casts a shadow over the club’s fiscal health and strategic direction. As the Toffees navigate through these challenging waters, we delve into the critical elements contributing to their financial plight and the potential ramifications for the future. The Soaring Debt CrisisOne of the most alarming disclosures from Everton’s recent financial accounts is the substantial increase in debt. “It is the sixth successive season where Everton have reported a loss, with the accounts showing the club’s debt has ballooned to £330.6million.” This escalation of financial liabilities underscores a troubling trend of unsustainable spending and investment strategies that have yet to yield the desired outcomes on or off the pitch. Investment in the Future or a Financial Quagmire?Everton’s ambition is embodied in their substantial investment in the new stadium at Bramley-Moore Dock, a project viewed as a cornerstone for the club’s future growth and success. However, this comes at a significant cost, with capital expenses for the stadium reaching a dizzying £210.9million over the financial year. The Athletic reports, “That figure is largely driven by what Everton describe as ongoing ‘significant investment’ in their new stadium at Merseyside’s Bramley-Moore Dock.” This massive outlay has contributed to the club’s financial woes, raising questions about the balance between ambitious projects and financial prudence. Revenue Streams Drying UpCompounding Everton’s financial distress is the decline in turnover, which fell to £172.2million, down from the previous year. The club’s financial stability was further compromised by the loss of £20m of contracted income after sponsorship deals were indefinitely suspended. “Everton’s turnover fell to £172.2million, down £8.9m from 2021-22, with the club having lost £20m of contracted income after sponsorship deals with Alisher Usmanov’s USM and affiliates were indefinitely suspended,” The Athletic elucidates. This drop in revenue, coupled with the ongoing financial commitments, paints a bleak picture of Everton’s financial health. The Path Forward Amid Financial AdversityEverton’s latest financial revelations signal a critical juncture for the club, necessitating a strategic reassessment of their financial management and investment approach. While the new stadium and player acquisitions represent a forward-looking strategy aiming to bolster the club’s competitive edge and market position, the immediate financial implications are stark. The club must navigate this turbulent financial landscape carefully, balancing ambitious growth initiatives with the imperative of financial sustainability. Everton’s journey through these financial headwinds will be closely watched, as it encapsulates the broader challenges faced by football clubs in managing financial health while striving for success on the field. As The Athletic’s comprehensive coverage highlights, Everton’s fiscal strategies and their outcomes will be pivotal in shaping the club’s trajectory in the coming years. eplindex.com/
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Post by rugbytoffee on Apr 4, 2024 17:11:28 GMT
Premier League clubs are considering abolishing points deductions and introducing a 'luxury tax', Mail Sport can reveal.
The hefty points-deduction punishments for Everton and Nottingham Forest - coupled with a quiet January transfer window as clubs did not dare overspend and risk sanction - have left many officials to deem the league's Profit and Sustainability Rules (PSR) not fit for purpose.
There are also grave fears are that, under its current guise, PSR will see the Premier League fall from its lucrative position as the world's best league because it will no longer be able to afford the best players on the best salaries. Radical reform has been discussed among the clubs and an entirely new system could be voted in at the end of the season meeting in June. As many as 17 of the 20 clubs are thought to be leaning towards significant change. Fourteen clubs need to be in agreement to get a rule change through.
Some feel that the eventual six-point penalty dished out to Everton and the four handed to Forest were draconian and not reflective of why PSR was brought in. They believe that should clubs wish to 'have a go' and have the money to do so, they should not face a punishment that could plunge them into the Championship.
A 'luxury tax' has been considered, where those clubs who overspend will have a financial punishment which would increase the more they splash the cash. But clubs can choose to press on regardless if they wish.
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