Record losses underscore effect of pandemic on Everton's accounts
Lyndon Lloyd
Friday, 11 December, 2020
Everton have reported record losses of almost £135m but tempered the news with the revelation that Farhad Moshiri plans to plough another £50m into the club this season that will take his investment in the club to £400m.
The club's annual accounts show a pre-tax loss of £134.8m and a net loss of £107m for 2019-20, but a sizeable chunk of the shortfall, £67.3m, has been attributed to the COVID-19 pandemic that has wreaked financial havoc across the game.
The report stresses that the unrecoverable financial impact directly attributable to the pandemic is not considered part of the underlying reported loss because “it is non-recurring in nature and could not have been foreseen at the beginning of the financial year.”