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Everton have posted a loss of over £100million for the third successive year but will not be held in breach of Premier League profit and sustainability rules. Figures released show a £120.9m deficit for the year ending June 2021 after another season hugely affected by Covid.
Independent calculations suggest the global pandemic impacted Everton to the tune of £103m in the 12-month trading period, with the full effect on the club since the start of the outbreak estimated at £170m. Everton's losses over the last three years amount to £371.8m, with Premier League rules stating a club is in breach of financial regulations if they make an adjusted loss of more than £105m over a three-year period.
In the last seven years the club have made a profit just once, in 2016-17. Budget and transfer restrictions are the first sanctions which can be applied but according to the PA news agency, there will be no penalties forthcoming due to the extenuating circumstances associated with Covid.
The Premier League has had access to Everton's latest accounts since November and with the Goodison Park outfit continuing to be fully transparent and co-operative, club officials remain confident the Toffees are in a good place. That is based on record turnover of £193m and the continued support from billionaire Farhad Moshiri, who committed £100m through a new share issue during 2020-21 and provided a further injection of £97m after the end of the financial year. But otherwise the figures make for gloomy reading, coming on the back of losses of £111m in 2018-19 and £139.9m in 2019-20.
Diego Forlan hopes his former club Manchester United end the campaign on a high and can improve enough to compete for
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