Everton posted record turnover but still lost money during the 2014-15 season

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Everton have announced a record turnover but post-tax loss for the 2014-15 season. In a statement of accounts released on Wednesday, the Toffees said their total turnover had increased from £120.5 million in 2013-14 to £125.6 million. That was despite a £3.1 million reduction in broadcast revenue from £84.8 million to £81.7 million – in a season they finished 11th in the Barclays Premier League compared to fifth a year earlier.

Sponsorship, advertising and merchandising income rose by £2 million, while participation in the Europa League also contributed to an increase in revenue from other commercial activities by £5.1 million. Gate receipts grew by £1.1 million as the average league attendance at Goodison Park soared to 38,406, the highest recorded total since 2003-04.

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But Everton also reported on Wednesday that total staff costs had risen by £8.2 million to £77.5 million, and that, incorporating the annual net interest charge of £3.8 million, the results for the year showed a post-tax loss of £4.1 million.

The club had a record overall profit of £28.2 million in 2013-14, a campaign during which they sold Marouane Fellaini to Manchester United for £27.5 million. Ahead of the 2014-15 season, Everton splashed out a club-record £28 million on striker striker Romelu Lukaku from Chelsea. Before player trading, the Merseyside outfit had an operating profit for 2014-15 of £16 million – down from £23.7 million.

The accounts also show their net debt had increased by £3.2 million to £31.3 million.

Everton chief executive Robert Elstone said:

“Our financial performance, like so many Premier League clubs, was underpinned by the second year of a TV deal that beat all expectations, but also by increases in matchday and commercial revenues.

“We also continue to work hard managing and controlling our cost base and remain determined to ensure investment and spending is effective and delivers returns.

“Beyond the Premier League table, probably the most significant barometer of success is attendances and 2014-15 broke all recent records with our highest season ticket total for at least 10 years, the lowest season ticket non-renewal rate, 12 full houses and an average attendance in excess of 38,000 for the first time since 2004.

“As reported year-in, year-out, our revenues continue to be spent on sustaining a great academy, the best possible coaching, scouting, performance and medical teams and, of course, a first-team squad that can compete for a place in Europe. That strategy remains central to everything we do.”

Now in their third season under manager Roberto Martinez, Everton are currently ninth in the Premier League table.

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