Everton Reveals Soaring Wage Bill

Everton Football Club has released its annual results, revealing a soaring wage bill which now equates to 75% of the club’s turnover, and losses of nearly £10m.

The club, which currently sits fifth in the Premier League following a 2-1 win over struggling Newcastle on Wednesday night, recorded a net loss of £9.1m for the 2011/12 season, an increase of £3.7m from the previous year. Meanwhile, turnover at Goodison Park was down from £82m to £80.5m.

Expenditure on players’ salaries rose from £58m in 2010/11 to £63.4m last season.

Everton, whose slow starts to the football season have become somewhat traditional, placed the reason for the losses on their poor start to the last campaign, which led to a fall in gate receipts.

However, following a bright start to the current season, which leaves the Toffees just two points off a lucrative Champions League position, the club also revealed that sales of season tickets had risen 6.4% since the start of 2012/13.

Meanwhile, the club’s net debt of £46m remains relatively unchanged.