Kieran Maguire: Everton ‘desperate’ to sell star after £104m reveal
Everton were ‘desperate’ to sell Richarlison last year to try and balance their finances after losing £104million throughout the season.
That is the view of finance expert Kieran Maguire, who spoke exclusively to Football Insider about Everton’s latest financial accounts.
Everton released their latest financial accounts on 31 March, showing losses of £44.7million for the 2021/22 season.
However, this figure is clouded by the personal £70million investment made by majority owner Farhad Moshiri. As reported by The Telegraph, the Toffees have now recorded losses of over £400million in the last four seasons
Premier League clubs are allowed to lose a maximum of £105million over three years under current financial regulations.
Everton are currently under investigation by the Premier League for breaching Financial Fair Play regulations, with the Merseyside club facing a potential points deduction if found guilty.
Maguire insists the club is ‘broadly’ heading in the right direction to fixing their finances, but explains that the Bramley Moore Dock Stadium will be ‘essential’ when it comes to increasing revenue.
“Everton lost £104million in respect of day-to-day trading in 2021/22, and it’s clear to see the club was desperate to sell Richarlison to reduce those losses to a more tolerable level,” Maguire told Football Insider.
“It still indicates, however, that the club has poor control over costs and therefore the Premier League’s creation of a commission to hold Everton accountable for their finances is understandable.
“Looking at their numbers, it seems Everton are broadly heading in the right direction in terms of getting costs under control.
“But it does show just how essential the Bramley Moore Dock project is to increase revenues and make them more competitive in very challenging circumstances.“
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