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Alisher Usmanov pays £30m for naming rights at Everton’s new stadium

• Russian billionaire secures exclusive option on naming rights
• Club makes record £111.8m loss despite revenues of £188m

Everton have announced a record loss of £111.8m for the financial year to June 2019, an alarming plunge after the club made a £30m profit in 2017 and reported a more manageable deficit of £13.1m the following year.

The club also revealed that the Russian billionaire Alisher Usmanov, a business partner of the majority shareholder Farhad Moshiri, has strengthened his ties with the club after agreeing to pay £30m up front for an exclusive option on naming rights for their new stadium. Usmanov’s holding company USM already sponsors Everton’s training ground.

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