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SBD Global/January 4, 2013/Finance
Everton FC Reports 'Worse Than Expected' $14.8M Loss During '11-12 Season
Published January 4, 2013
POOR START HURTS CLUB: The PA reported Everton's poor start to last season "played its part in contributing to a fall in gate receipts and season ticket sales," while the club was also picked for fewer live TV games. The new TV deal, which comes into effect this summer, "should ease the financial pressure" on Everton. Chair Bill Kenwright "continues to search for investors to help the club compete financially" with its Premier League rivals. Kenwright: "My desire to find a person, or institution, with the finance to move us forward has not diminished" (PA, 1/3).
SOME SAVINGS: In Liverpool, Greg O'Keeffe reported the results also show "savings in other operating expenses" such as running Goodison Park, and the club's training ground, Finch Farm. Those expenses fell for the second successive season from £23.6M in '10-11 to £22.7M ($37M) last season. Sponsorship revenue "showed signs of growth," from £6.8M to £7.1M ($11.5M). This "did not include" new partnerships made with kit supplier Nike and secondary online ticketing marketplace StubHub, which did not fall into the '11-12 financial year (LIVERPOOL DAILY POST, 1/3).