Everton announces £44.7 million ($55.2 million) loss for 2021/22 season amid scrutiny of financial rules compliance.
The Premier League recently referred the Merseyside club to an independent commission for possible breaches of the league’s profitability and sustainability rules for the period ending with the 2021/22 season.
Under the regulations, clubs can incur a maximum loss of £105 million over a three-year period or face penalties, which may include point deductions.
Everton claimed that their losses were affected by the pandemic crisis, including the impact on player trading and matchday income. However, the club’s losses for the three years prior to the last season were £371.8 million.
The club has denied accusations of non-compliance with the rules and expressed confidence in being compliant with all of the Premier League’s financial regulations.
Despite cutting losses by £76 million last season, net debt increased to £141.7 million due to investment in the playing squad and costs associated with the new stadium build at Bramley-Moore Dock.
