Soccer-Everton report losses worth 121 million pounds in latest accounts

(Reuters) - Premier League club Everton said the effects of the COVID-19 pandemic were the main reason for losses of 120.9 million pounds ($158.05 million) for the year ending in June 2021 after releasing their latest consolidated accounts on Tuesday.

Everton's most recent figures showed a third straight year of losses in excess of 100 million pounds ($130.84 million), following losses of 111 million pounds ($145.23 million) and 139.9 million pounds ($183.05 million) in the previous two seasons.

Their total loss over the last three seasons amounts to nearly 372 million pounds ($486.72 million), with the club attributing at least 170 million pounds ($222.43 million) of that to the impact of the COVID-19 pandemic.

According to Premier League rules, a club is in breach of profit and sustainability rules if their adjusted loss over a three-year period exceeds 105 million pounds ($137.38 million).

"(Everton) has also been working formally with the Premier League regarding its ongoing compliance with Profitability & Sustainability regulations," Everton said in a statement https://www.evertonfc.com/news/2554039/everton-accounts-reveal-financial-impact-of-covid.

"The club has experienced a unique set of financial circumstances in recent years, including committing significant amounts of expenditure to a complex new stadium project and dealing with the continuing and widespread impact of the COVID-19 pandemic."

With only three Premier League games and one League Cup game in the period having any fans present at Goodison Park, matchday revenue was down to 200,000 pounds ($261,680.00), the club said.

However, the club reported a record turnover of 193.1 million pounds ($252.65 million), thanks to the support of Farhad Moshiri, who