Everton release financial results

08 February 2011 09:30
Everton chairman Bill Kenwright claims the club's latest financial accounts demonstrate "sensible business management" at Goodison Park last season.

The Toffees released figures covering the period from June 1 2009 to May 31 2010, revealing that £79.1million of turnover was generated, offset by operating costs of £79.6million. This resulted in an operating loss before player trading of £0.5million.

Investment in the squad saw operating expenses increase from £73.4million in 2009, with a profit of £19million from player sales - raised primarily by Joleon Lescott's move to Manchester City - used to bring in the likes of Sylvain Distin, John Heitinga and Diniyar Bilyaletdinov.

The loan signing of Landon Donovan and renegotiated contracts for Louis Saha, Tim Howard, Jack Rodwell, Joseph Yobo and Phil Jagielka also made an impact as manager David Moyes guided the 2009 FA Cup finalists to an eighth-placed finish in the Barclays Premier League.

Kenwright told www.evertonfc.com: "In modern football, the difference between success and failure can be wafer-thin. Yes, those clubs fortunate enough to boast a rich and generous benefactor undoubtedly have a clearly defined advantage but the outcome of crucial matches are quite often decided not by the size of the bank balance but more by skill, good fortune or the whim of a referee.

"From a financial perspective, the year was one which was underpinned by sensible business management which enabled us to continue to do everything within our collective power to help the manager in his concerted efforts to build a squad which would challenge the top four. Our average attendance for Premier League games at Goodison Park rose to almost 37,000 during the course of the last campaign, a statistic which delights me but does not surprise me simply because we are fortunate enough to boast the most loyal and knowledgeable crowd in British football."

Source: PA