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Record financial results at Everton

Everton recorded a turnover of £171.3m in 2016/17, £50m more than the previous highest figure. A loss of £24.3m in the preceding year was turned into a £30m profit. Broadcasting revenues were up from £82.5m to £130m.

Average attendances at Goodison exceeded 39,000 for the first time since the creation of the Premier League. Gate receipts were down because of a policy of reasonable pricing.

Net payments on player transfers totalled £24.7m, while new contract extensions were secured for James McCarthy, Kevin Mirallas, Mo Besic, Brendan Galloway and Bryan Oviedo. This investment led to staff costs rising by 8 per cent to £84.0m, compared to £77.5m in 2014/2015, with new contracts contributing to the Club’s wages as a percentage of turnover (including outsourced catering and retail revenues) reaching 65 per cent in 2015/16.

The club continues to benefit from the long-term support of key partners such as Chang, Fanatics and Umbro. However, without European football, the Club missed out on performance bonuses from its partners and commercial revenues from UEFA. As a result, overall commercial income decreased by £4.6m from £26.0m in 2014/2015 to £21.4m in 2015/2016.

Since 31 May, 2016, the Club’s major shareholder, Farhad Moshiri, has provided an interest-free loan of £80m with no agreed repayment date. This funding has been used post-year end to reduce the Club’s long-term debt by repaying the entire other loans balance of £54.8m at 31 May 2016.

Chief executive Robert Elstone commented, 'A major priority of the past year has been the new stadium and considerable progress has been made securing the site and closing in on a funding solution. We continue with confidence and optimism on a project that will underpin our Club’s future and transform our City. Our investment in the project has been substantial and the financial support provided by Farhad Moshiri has been critical.'

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