Image Source: Ben Sutherland
Bdaily Business News

Everton FC reports surprise record profits of £28.2 million

Everton have reportedly made a club-record profit of £28.2 million and £120.5 million turnover, which is the highest in their history, for the year ending 31 May 2014.

The club returned a profit for the second successive year, having made £1.6 million in 2012-13.

These profits have been aided by rises in sponsorship income and gate receipts, as well as profits on player sales.

Broadcast revenue rose from £55.7 million to £88.5 million (a figure higher than Everton’s entire turnover for the previous year) from the first season of a three-year Premier League television deal with Sky and BT Sport, which began in 2013.

An increase in average league attendances from 36,356 in 2012/13 to 37,732 in 2013/14 contributed to gate receipts increasing by £1.9 million, to £19.3 million.

The Club’s sponsorship, advertising and merchandising revenue also increased from £7.6 million in 2013 to £8.4 million in 2014, boosted by the long-term support of key partners such as Chang and Kitbag.

Everton have also reduced net debt to £28.1 million from £45.3 million.

Everton chairman Bill Kenwright said.“We are moving forward on so many fronts off the field as well as on it.”

The club made a profit of £28.2 million profit on player trading, helped by the sale of midfielder Marouane Fellaini to Manchester United for £27.5 million in September 2013, as well as deals to sell Victor Anichebe to West Brom at the same time and fellow striker Nikica Jelavic to Hull City in January 2014.

The £28 million club-record signing of striker Romelu Lukaku from Chelsea is not included in the latest accounts, as he was not brought in until July this year.

Chief Executive Robert Elstone said: “The strong results for 2013/14 are a reflection of the drive, commitment and hard work of all staff at the Club.

“Our financial results highlight growing revenues, costs remaining under control and debt reducing, and when we combine that solid financial base with a playing squad that continues to improve and increase in value, we have every right to be confident and positive on future prospects.”

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