Everton have recorded a loss for the seventh straight year after posting £53 million during the 2023-24 season, Afrosport reports.
The figure is an improvement from the £89.1 million deficit recorded the previous year, however, the club’s losses over the last seven years have now totalled £570 million.
Everton were deducted eight points last season for two separate PSR breaches withing a three-year period.
In a turn of events, the Premier League confirmed in January that all 20 clubs, were financially compliant for the 2023-24 season, and no additional charges would be imposed.
Everton’s finances have been transformed since the Friedkin Group’s £400 million pounds purchase of the club last December.
Meanwhile, Chelsea recorded a pre-tax profit of £128.4 million pounds for the year ending in June despite a fall in revenue in part due to the repositioning of their women’s team.
The profit comes after a loss of £90.1 million in the previous year to June, which was the first under the ownership of the consortium led by Todd Boehly.
The women’s team passed ownership from Chelsea FC Holdings Limited to BlueCo, Boehly’s consortium, last June, which removed any losses associated with Chelsea Women from the club accounts.
Chelsea’s overall revenue fell from £512.5 million in 2023 to £468.5 million, which was due to the failure of the men’s team not qualifying for the Champions League.
The club’s broadcasting income also increased thanks to their sixth-place finish in the Premier League last season while there was a fall in operational costs and growth in commercial and matchday revenue.
