Everton have lost £265million in three years but owner Farhad Moshiri is laser-focused on the top-four — and his strategy might pay off.
That is according to new Football Insider columnist and author of The Price of Football Kieran Maguire, speaking exclusively to correspondent Adam Williams after Everton announced losses of £139.9million over the last financial year.
£67.3m of this was lost due to pandemic-related revenue issues, whilst £67.38m was also shelled out in transfer fees.
Maguire says Everton’s spend-happy approach is a long-term strategy ahead of their proposed stadium move, with the club’s hierarchy intent on regular Champions League football thereafter.
“It’s not sustainable. It is investing, with a view to being in a position when they can move to the new stadium and have a team that can sell it out,” he told Football Insider.
“I don’t think that would have been too much of a problem anyway, but they will also then be more competitive in terms of challenging for the top four. That’s Moshiri’s objective.
“He’s putting huge amounts of money into the club, he’s got close relations with [Alisher] Usmanov who is now sponsoring the training ground and the women’s team. So they clearly want to be challengers to the existing big six. The only way you can do that is to invest large amounts in the squad to increase the quality and the talent.
“But if you take a look at Everton’s matchday income, they normally get around £14-15m a year, whereas you’ve got Manchester United and Spurs getting £110m.
“While it’s quaint, while it’s fantastic from a history and a heritage point of view, Goodison isn’t going to be able to deliver the revenues which Everton will need on a longer-term basis to be competitive with other major clubs in England. That’s the objective of the owner, he wants to break through the glass ceiling which currently exists.”
Everton have now lost £264.8m over the past three financial years.
With the new Bramley-Moore Dock stadium estimated to cost in the region of £700m, the Toffees finances are in a delicate balance.