Everton majority owner Farhad Moshiri is set to invest up to GBP 250 million (USD 330.45 million) to help the club deal with the fallout of the COVID-19 pandemic as the Premier League side announced losses of almost GBP 140 million on Friday.
Despite generating a record GBP 64 million from sponsorship, advertising and merchandising up to June 30, 2020, the club announced a loss of 139.9 million as the pandemic affected broadcasting, commercial and matchday revenues.
ALSO READ | Lampard looking forward to Ancelotti reunion
“Our final accounts show that a significant proportion of our losses have been directly attributable to the pandemic,” Everton CEO Denise Barrett-Baxendale said in a statement on the club’s website.
“However, in this period, it is encouraging that our commercial performance has improved markedly, and this will continue to be a priority moving…