Everton Football Club is eagerly awaiting the £133 million payment of Premier League prize money this summer, which finance expert Kieran Maguire says “cannot come soon enough”. The payout will provide a much-needed lifeline for the Merseyside club, enabling them to cover their wage bill and short-term operating costs during a challenging period.
The payment, comprised of broadcast payments, facility fees, and merit payments based on their league finish, will help alleviate financial concerns amidst the ongoing takeover process. Maguire emphasized that the imminent Premier League payment will significantly address the club’s financial fears, stating, “The final payment from the Premier League to Everton for the 23-24 season cannot come fast enough.”
Under Sean Dyche’s management, Everton’s improved performance will yield additional revenue, with each place in the league table worth £3.4 million this season. The club urgently needs short-term working capital to pay the May wage bill, as well as June and July expenses, making the Premier League payment crucial.
Maguire acknowledged that Everton’s governance under Moshiri has been subpar, but this payment has alleviated some of the broader fears about their short-term finances. The £133 million prize money will provide a vital injection of funds, enabling the club to navigate their current challenges and plan for the future.