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Everton move from profit to loss

An Everton fan takes a look at the club;s 2017/18 accounts: Return to losses.

He comments, 'The story of this year’s accounts is one of huge spending with increases way beyond the increases in income funded by player sales, capital injections from Moshiri, the use of debt facilities and some increase in commercial income. Whatever criticism comes the way of the club, in terms of manager and player recruitment, plus delays in the stadium development, there can be no doubting [Farhad] Moshiri’s financial commitment to the club which now stands at £250 million – and this before the stadium is financed with the exception of existing development costs.'

Revenues increased by 10.4% to a record £189.2m – largely due to an increase in commercial activities outside of sponsorship, advertising and merchandising, namely participation in the Europa League. There was a record player trading profit of £87.8m following sale of Lukaku, Cleverly, Deulofeu and Barkley.

The club showed an operating loss of £22.9m, resulting in a net loss of £13.1m. Debt went to £66m with a positive cash position of £9.5m. Farhad Moshiri continues to fund losses and cash requirements increasing his loans to the club by £100m in 2017/18, to £250m in total.

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