Everton are in talks to secure new financing as the Merseyside club looks to recoup the revenue shortfall from cancelling multiple sponsorship deals.
The Premier League outfit suspended their commercial ties with Russian companies USM, MegaFon and Yota, all of which are owned by the oligarch Alisher Usmanov.
The Russian billionaire’s assets have been frozen by the European Union.
Everton are also on the hunt for a new shirt sponsor for next season after online car retailer Cazoo confirmed the pair’s partnership would end once the 2021/22 campaign wraps up.
The severed commercial ties with Usmanov’s companies, coupled with the Cazoo deal ending, means the Toffees could face an annual revenue shortfall of £30 million. Everton is exploring the option of raising equity and has held talks on raising debt.
Everton have posted a combined £265 million loss for the last three financial years. Their latest annual accounts are due to be published by the end of the month.
