Moving into their new stadium at Bramley-Moore Dock remains at the apex of developing Everton’s finances going forward and the club remain totally committed to completing its construction. Progress remains on track over the three-year build of the hugely ambitious riverside project with the Blues still confident of moving into the new home by the banks of the Mersey in 2024.
With Everton’s accounts for FY21 released today, a significant increase in the club’s net debt from £2.3million to £58.7million is largely due to investment in the new stadium. As the overall accounts show, losses of at least £170million are attributed to the impact of the coronavirus pandemic on the club while further market analysis has indicated the real figure could include an additional £50million.
While it’s often stated that lucrative television deals make gate receipts less important for Premier League clubs, such sweeping statements do not tell the full story. The mere £200,000 Everton raked in from a financial year in which games were played almost entirely behind closed doors – there were restricted attendances of 10,000 and three at 2,000 for three Premier League fixtures plus a Carabao Cup tie – demonstrates the devastating impact COVID-19 had on matchday revenues.
READ MORE: Everton confirm major loss as latest club accounts revealed
READ MORE: Why Everton are confident of avoiding Premier League points deduction after losses revealed
