New stadium is priority for Everton FC

Everton Football Club achieved record turnover last season but said it had little opportunity to increase revenue further and that a proposed new stadium remains a priority.

Boosted by an appearance in last season's FA Cup final and a new marketing deal with the online retailer Kitbag, Everton's turnover for the year to 31 May totalled £79.7m, up from £75.7m, according to the Financial Times.

The wage bill remained at about £45m, a quarter that of Premiership leaders Chelsea. Profit, before player trading sales, dipped from £6.8m to £6.2m.

Robert Elstone, chief executive at the club, told the paper that if a government planning inquiry that is expected to report this week rejected a new 50,000-seater stadium the club would probably sink into the bottom half of the table over the next decade.

Elstone said Everton's current home Goodison Park has a capacity of 40,000 and a tenth of those seats have such restricted views they are rarely filled, with average gates stuck below 37,000.

Elstone told the FT "every time we open gates on a match day we take £800,000. Arsenal take £3.3m."

Many fans oppose the move from Goodison Park to a new stadium in Kirkby, 4 miles away in the suburbs of Liverpool. However, boarded by terraced houses and a church in one corner, redevelopment would not increase capacity and would cost more than a new ground, the club said.

Bill Kenwright, the theatre impresario who is chairman and main shareholder, put Everton up for sale last year. Mr Elstone said there had been no firm interest so the move, mooted for a decade, was vital.

Elstone continued to say that Kirkby is the only affordable option because of "a unique three-way partnership". Tesco is giving a £52m subsidy and Knowsley Council is providing the land. Everton will have a 999-year lease on the stadium, which will have 50,000 seats with 2,500 corporate places.