Kieran Maguire: 'Eyebrows have been raised' at Everton's £170m claim as new details emerge
Data taken from other Premier League teams has led to questions about Everton and their supposed £170million worth of Covid losses.
That is the view of finance guru Kieran Maguire, speaking exclusively to Football Insider about how the Toffees’ finances have been affected during the pandemic.
Everton secured their top-flight status with a dramatic comeback victory over Crystal Palace on Thursday (19 May) but remain in dire financial straits.
They have posted combined losses of over £370m in the last three years, with £170m of that figure attributed to lost income because of the pandemic.
Newcastle became the last team in the top flight to release their accounts for 2020-21 on Monday (16 May), and they chalked up just £40m to Covid.
This figure is broadly similar to the likes of Leeds United, Aston Villa and Leicester City, whose annual revenue is typically in the same bracket as Everton.
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And Maguire claims that new details from their top-flight peers have caused many to question the Toffees’ £170m claim.
“Eyebrows have been raised with regards to the magnitude of the Covid losses compared to other clubs,” he told Football Insider’s Adam Williams.
“Everton are adamant that they have suffered significantly in the transfer market when trying to get rid of players.
“They say that Covid has killed the market, which is true to an extent. But it is unlikely that they would have got big fees for a lot of their players anyway.
“It’s a very high number for a club that only generates £14m per season in matchday income.”
Everton reportedly have a real-time financial monitoring agreement in place to avoid sanctions from the Premier League.
The competition’s financial fair play rules state that clubs can lose no more than £105m over three seasons.