Everton in 'secure financial position' despite £121m losses

Everton «remain in a secure financial position» thanks to owner Farhad Moshiri despite posting losses of more than £110m for a third straight season.

The Premier League club, who are just three points above the relegation zone, registered losses of £120.9m for the 2020-21 season.

However, £103m of that figure is attributed to the impact of Covid-19.

That comes after previous losses of £111.8m and £139.8m for the two previous seasons.

That makes a combined loss of £372m over three years, but the club say Covid-19 losses over the past two years amount to £170m, including last season where games were played behind closed doors.

Premier League profitability and sustainability rules mean that clubs are only allowed combined £105m losses for three seasons.

But clubs are allowed to adjust figures to account for the past two Covid-hit seasons, meaning their actual losses are about £170m.

That does not include spending on Everton's new Bramley-Moore Dock stadium, the academy and women's team, plus community projects, which are taken off the costs total and, Everton say, bring the club under the £105m limit.

The club also said they had been «working formally with the Premier League regarding its ongoing compliance with profitability and sustainability regulations».

Everton have also benefited from cash injections from majority shareholder Moshiri at a time of added uncertainty.

Last season's accounts show a £100m cash injection from the Iranian businessman, who has pumped more than £500m into the club since he first bought shares in the club in 2016. He has since followed up with further £97m, with that boost increasing his stake in the club to 94.1%.

In addition to the threat of relegation, Everton have suspended their sponsorship