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Premier League You can also find out more about club memberships. Everton reported losses of £89.1 million ($112.5 million) for the 2022-23 season in their latest accounts report on Sunday, up from £44.7M ($56.4M) in the previous campaign.
Merseyside’s club has been docked six Premier League points this season after it violated the Premier League’s financial rules. It is waiting to find out if there will be further punishments for future violations.
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Everton is 16th on the table and three points clear of the relegation area.
Everton’s statement cited “the indefinite suspension of major commercial partnerships as a contributing factor” to their accounts.
Everton stopped their main sponsorship in 2022 with the Russian metals magnate Alisher Ustanov who was sanctioned for his actions by the European Union. This move was made in response to Russia’s invasion into Ukraine.
The latest losses came despite Everton’s accounts showing they made £47.5M ($60M) profit on player transfers.
Net debt increased to £330.6M ($417M) because of “significant investment” in a new stadium, Everton said.
Turnover was £172.2M ($217.5M).
The league’s rules allow clubs to lose a maximum of £105M ($133M) over a three-year period or face sanctions.
This story uses information from The Associated Press.
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