2 Dec 2009Everton post £6.7m loss despite record turnover

Football Clubs News | Football Finance News

Everton's financial results for the year ending May 31st 2009 have revealed an operating loss of £6.7 million.

That figure came despite the Merseyside club's turnover reaching a record £79.9 million, which represented an increase of £4 million on the previous season.

According to the report, positive growth in television revenue and gate receipts at Goodison Park was offset by a significant increase in the wage bill, which rose to £49.1 million.

In a statement to shareholders, Everton chairman Bill Kenwright paid tribute to the club's fifth-place finish in the English Premier League and the FA Cup final appearance, achievements he claimed were made despite limited resources.

He said that he hopes the club continues to "punch above our weight" under the stewardship of boss David Moyes.

"I stand by my assertion that we have a manager who will go down as one of our all-time greats and a squad of players that is among our very best over the last two decades," Kenwright commented.

Everton's proposed new stadium development in Kirkby was rejected by the government last week.

Written by Terry Mitchell

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