Sixth-Place Premier League Finish Gives Everton £700K Profit Bump Last Year
EPL side Everton turned a £6.4M loss into a £700,000 profit for the financial year ending May '13, according to Carl Markham of the London INDEPENDENT. A sixth-placed Premier League finish "generated a greater increase in broadcast revenue and gate receipts which helped boost operating profit before player trading was taken into consideration." The figures "do not include any of the summer transfers," which saw Everton make a profit in the region of £10M after offloading Marouane Fellaini and Victor Anichebe for a combined £33.5M and bringing in James McCarthy, Arouna Kone and Joel Robles on permanent deals and Gareth Barry, Romelu Lukaku and Gerard Deulofeu on loan. The financial report also does not take into account the new EPL broadcast deal which began last August (INDEPENDENT, 1/30). Turnover had increased by 7.3% to £86.4M due to increased commercial revenues (up by £2.3M) and a strong Premier League campaign. Profit on player sales increased to £15.6M. Gate receipts increased by £700,000 to £17.5M. Broadcast revenue increased by £2.9M. Other operating coasts were reduced by almost £1M and down 8.4% from '09-10 (Everton FC).
THE RIGHT DIRECTION: In London, Paul Gorst reported Everton Chair Bill Kenwright said that he "was happy with the direction that the club's typically tight finances were headed." He wrote in the club's annual report, “Each year, when I sit down to carry out my review of the previous year, I focus on whether our club is in a better position than it was a year ago. And while we have undoubtedly gone through a period of change, the answer can only be a resounding yes" (DAILY MIRROR, 1/30).