English football club Everton announced a loss of more than 100 million pounds for the third year in a row.
Data released by the club show a deficit of £ 120.9 million during the current season ending in June.
Three years ago, he reported a loss of 111.8 million pounds, while the previous season’s deficit was 139.8 million pounds.
Premier League rules say the club violates the rules on profit and sustainability if it makes a loss of more than 105 million pounds in a period of three years.
The loss is three times higher than allowed, but the club says that 170 million pounds can be attributed to the coronary virus pandemic.
– The club has experienced a unique set of financial circumstances in the last three years, including allocating a significant amount for the construction of a new stadium and facing the coronary virus pandemic – the club said.
The club also pointed out that it “remains in a secure financial position thanks to the continuous support of Farhad Moshiri”, the majority shareholder of Everton.
In the last seven years, Everton made a profit only in the 2016/17 season.
In early March, Everton terminated its sponsorship with a company belonging to Alisher Usmanov, a Russian metal tycoon who found himself under European Union sanctions.
Everton’s majority shareholder, Moshiri, invested another 100 million pounds in the club in January, saying that he showed his commitment to the club. The money injection has been converted into Moshiri’s equity, so his share in Everton is now 94 percent.
