Despite posting losses of more than $110 million for a third straight season,Everton remains in a secure financial position thanks to owner Farhad Moshiri.
The club lost over 120 million dollars for the 2020-21 season.
The impact of Covid-19 is attributed to 103 million of that figure.
The previous two seasons had losses of 139.8m and 111.8m.
Over three years, the club has lost 372m, but the losses over the past two years amount to 170m.
The clubs are only allowed combined losses of over 100 million dollars for three seasons.
The clubs are allowed to adjust their figures to account for the past two Covid-hit seasons.
That does not include spending on the new stadium, the academy and women's team, plus community projects, which are taken off the costs total.
The club said they were working with the league about its compliance with profitability and sustainable living regulations.
At a time of added uncertainty, the cash injections from majority shareholder Moshiri have helped.
The accounts show that the Iranian businessman pumped more than 500m into the club since he first bought shares in the club. His stake in the club has gone up to 94.1% after he followed up with more than 100 million dollars.
USM, Megafon and Yota are all owned or part-owned by Alisher Usmanov, who is a close business partner of Moshiri.
The loss of the sponsorships is likely to cost around 10 million dollars a year. The new 52,000-seat stadium is expected to cost over 500 million dollars, and the USM paid 30 million dollars for an exclusive naming rights option.
The wage bill for James Rodriguez, who earned more than $200,000 a week, went up from 165 million dollars to 182 million dollars last season.
Carlo Ancelotti was the Real Madrid manager before he was replaced by Rafael Benitez.
Despite those financial concerns and recent losses,Everton said they had a record turnover last season and remain in a secure financial position thanks to the continued support and commitment of Farhad Moshiri.
They said that the club had experienced a unique set of financial circumstances in recent years, including significant amounts of expenditure to a complex new stadium project, and dealing with the impact of Covid-19.
The club hope the move to a new stadium will boost matchday revenue and commercial income to a level where they are less reliant on cash injections from the majority shareholder.
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