Everton's wage bill rises to 75% of turnover
Overall debt rises from £44.9m to £46m for 2011-12
Club record net loss of £9.1m for the same period
The financial constraints on David Moyes's attempts to lead Everton into the Champions League have been underlined in the club's latest set of accounts that show a net loss of £9.1m for 201112 and wages rising to 75% of turnover.
Everton's loss increased by approximately £4m on 2010-11 and overall debt rose from £44.9m to £46m, despite the sales of Mikel Arteta, Yakubu Ayegbeni, Diniyar Bilyaletdinov, James Vaughan and Jermaine Beckford.
Nikica Jelavic and Darron Gibson were Moyes's only permanent signings in that period, though Steven Pienaar and Landon Donovan were signed on loan and new contracts were awarded to Marouane Fellaini, Tim Howard, Phil Neville and Ross Barkley.
The club's wage bill increased from £58m in 2010-11 to a record £63.4m the following year. Wages accounted for an alarming 75% of turnover, which fell from £82m to £80.5m as a result of four fewer games being selected for live television, lower attendances and a fall in season-ticket sales.
Bill Kenwright, Everton's chairman, said: "The last financial year presented us with a new series of challenges in addition to the usual pressures we confront on a regular basis. An inexplicable lack of support from our broadcast partners resulted in a significant reduction in live TV selections on previous years, while a fall in gate receipts and season-ticket sales also had a negative impact on our bottom line."
Moyes recently admitted "there is only a small amount available for maybe a couple of loan signings" in January, despite taking Everton into contention for Champions League qualification in the final season before a record Premier League television deal comes into effect.