Everton insist their financial operations remain ‘secure’ despite posting record losses.
Account for the year ending June 30, 2021 showed that the Goodison Park club had a £120.9 million deficit largely attributed to the impact of Covid-19.
The Blues played only four home games in all competitions during that period, which also incorporated the end of the 2019/20 season, with fans present.
Club officials predict that the pandemic had a £170m hit on their revenues which could rise by a further £50m once the full impact appears over time.
However Everton believe that Tuesday’s published set of accounts are compliant with the Premier League’s Profit and Sustainability regulations.
The league are making allowances for Covid and long-term investments such as the women’s team, Everton in the Community and Bramley-Moore Dock.
Those factors are expected to bring Everton in below the £105m threshold or what top-flight chiefs term as allowable losses during a three-year period.
“The club can report a record turnover of £193.1m and remains in a secure financial position thanks to the continued unwavering support and commitment of Farhad Moshiri, the majority shareholder, and cost control measures continuously adopted by the club,” read a club statement.