EVERTON POST RECORD TURNOVER, SEEKS SPURS PATH
Everton are breaking new grounds under new boss Farhad Moshiri. They have just posted a record turnover, meaning things are going well at Goodison Park financially. However, the Merseyside Blues have been urged to tow the path of Tottenham Hotspur and build the club into a top tier side.
The Toffees posted £171.3 million in turnover and a post-tax profit of £30 million. The club also recorded 66 percent increase in sponsorship and advertising revenue. The record breaking shirt deal with SportPesa and sleeve sponsorship with Angry Birds means they will better the £15.4 million they earned in the 2017 financial year.
The club has been growing steadily in commercial income for the last four years, which is even better than that of any of the top six clubs in the league within the same period. The club is expected to keep working on improving their sponsorship and advertising revenue even as they plan to move to the new proposed stadium at Bramley Moore Dock.
The training ground naming rights deal with USM will help them raise more revenue while collaborations with Sure and William Hill add to it. Everton can also learn a lot from Tottenham with regards to wages spent as a percentage of turnover. The top teams earn very much but their wage bills tie them down too. Spurs is the only top side doing well in that regards so Everton are encouraged to follow their path.
As Everton is building, they would need to be very smart in their transfer policy not to spend much and yet retain competitiveness. Moshiri has spent £150 million since taking over, mostly repaying long term debts of the club, improving the facilities and strengthening the squad. With the club working towards affordable ticket pricing, they get the hit in gate fees’ revenue. The club can still make changes to better their current decent financial position.