The true impact of the pandemic on Everton's finances was laid bare with the publishing of their accounts for the 2020/21 period.
Having posted record losses of £139.9m for 2019/20 there were expected further losses for the most recent accounting period, with a £120.9m loss posted for the most recent financial year. That takes Everton's total losses for the past two financial years to £260.8m, the highest recorded in the Premier League across the two seasons so far. Of that figure, Everton make around £170m of it directly attributable to the impact of COVID-19.
There can be no sugar coating the financial situation that the accounts reveal, and Everton's challenges in ensuring they fly under the threshold for the Premier League's profit and sustainability rules have been proof of that. A lack of success on the pitch that didn't match the investment into the squad, a flat market with regards to player sales and trying to push ahead in the background with a £500m stadium build have all contributed to tough times for the Toffees and majority shareholder Farhad Moshiri.
