Everton announce £89.1m losses for 2022-23 season

Premier League strugglers Everton revealed an £89.1 million ($112 million) loss for the 2022-23 season in their latest financial accounts on Sunday.

Everton's losses were a significant increase from the 2021-22 season, when their accounts showed a £44.7 million deficit.

The Goodison Park club have blamed the indefinite suspension of sponsorship deals with key commercial partners as mitigation for the increased loss.

Everton's latest accounts, which also show heavy investment in the club's new stadium, comes at a time when their finances are under scrutiny.

The Toffees are due to find out before April 8 the verdict of a second charge of breaching the Premier League's profitability and sustainability rules.

They could be hit with a further points deduction in addition to the six they have already lost for breaches related to the 2021-22 season.

Under PSR regulations, clubs can lose a maximum of £105 million over a three-season period, or £35 million per campaign, before facing sanctions.

Beaten 2-1 at Bournemouth on Saturday, Everton are currently 16th in the Premier League table.

Sean Dyche's side sit just three points above the relegation zone with nine games left.

Under-fire majority shareholder Farhad Moshiri said earlier this week that he remains confident the protracted takeover of the club by 777 Partners will be completed soon.