The release of the 2024/25 accounts highlight the challenges taken on by the Friedkin Group and the initial work to stabilise a club that had been in turmoil
Everton recorded a loss of £8.6m for the 2024/25 financial year, a period that included the first six months of ownership by the Friedkin Group (TFG).
The headline figure was a significant drop on the £53.2m losses of the previous 12 months though the accounts, released on Tuesday afternoon, show that number would have slightly increased had it not been for the sale of Everton Women within TFG owner Dan Friedkin’s empire for a fee of £49.2m.
The overall picture presented by the accounts is one of progress however, with documents showcasing the initial work of TFG to restructure the club’s debts and move Everton to a position of stability after years of turmoil under former owner Farhad Moshiri.
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Moshiri’s final years were characterised by chaos on and off the pitch as the club lurched between relegation battles while the businessman sought to sell a club that, at times, used the support of prospective buyers to pay the bills.
Huge interest payments on debts owed to a host of lenders impeded the ability of the club to find a firm financial footing, one of several problems that continued in the wake of unprecedented points deductions for two breaches of Premier League spending regulations. The new accounts bear the hallmarks of the final stages of that period of uncertainty.
They also detail the work carried out by TFG to lay the groundwork for the progress that is currently visible. One of the US outfit’s first acts was to pay off those lenders and refinance the club’s debt, consolidating it with the renowned JP Morgan Chase, with whom the club has entered a £350m, 30-year, stadium financing package.
The £450.7m of shareholder loans essentially owed to Moshiri, which had the potential to cause regulatory problems if not appropriately dealt with, were converted into equity as part of the takeover deal. Another move intended to have an immediate impact on the club’s finances was the sale of Everton Women, and with it their home of Goodison Park, to Roundhouse Capital Holdings, the wider group run and controlled by Friedkin.
Within the regulations that transaction – for almost £50m – significantly reduced Everton’s losses and would have helped the club towards compliance with PSR – the financial rules the club twice breached under Moshiri. The internal sale of the women’s team for such purposes is a move previously adopted by Chelsea and Aston Villa.
The accounts, which cover the reporting period that ended at the conclusion of June 2025, offer a snapshot of where the club was after its final season at Goodison Park. Despite the hangover of previous financial difficulties, the club recorded a record turnover of £196.7m and saw wage-to-turnover ratio – a figure that will grow in prominence as the Premier League moves towards a regulatory programme defined by squad cost ratio, reduce from 81% to 74% once outsourced retail and catering services were taken into account.
Upon release of the accounts, Angus Kinnear, Everton’s chief executive officer, said: “Over the course of the financial year, and particularly following the change in ownership, the club made significant progress in stabilising the financial position and creating a platform for long-term growth.
“The delivery of Hill Dickinson Stadium has been central to that progress. It represents a transformational opportunity for the club, our supporters and the wider city, and will play a key role in driving future revenues. Growing our revenues is essential if we are to support our ambitions on the pitch and compete consistently at the highest level.
“While these results show improvement, we know there is more work to do. With a strengthened financial foundation, committed ownership and a clear strategic direction, we are focused on continuing to grow sustainably and building a competitive future for Everton Football Club.”
