Article in the athletic on Everton’s financial performance - I genuinely have no idea how they’re avoiding being smashed for breaching FFP unless owners can now invest as much as they like and that’s ok?
“Mr Moshiri’s total support of the club comes to £350 million as of June 2020 with a further £50 million cash injection received to date which will be reported in the club’s 2021 accounts,” said Ryazantsev.
“As announced before Christmas, the club has agreed to issue up to £250 million of new shares to Mr Moshiri’s Blue Heaven Holdings Ltd to be paid for by a combination of new cash and conversion of some of the previously issued shareholder loans.
“This will present a welcome injection of capital into the club as we continue to address the significant financial challenges presented by COVID-19. His investment has facilitated the club’s investment in players, improved facilities, repayment of external debt and funding development of the new stadium project.”
On the recruitment front, he added: “In the last five years, the club has spent a net £306 million on players. It should be noted that the balance sheet value of the club’s playing squad of £227 million as of June 30, 2020 was significantly lower than the insured value of the squad at the same time.”