English Premier League’s, Everton have revealed their financial net losses have increased to £9.1m from £5.5m in the 2011-12 season.

The wage bill, up from £58m to £63m, accounted for 75% of the overall turnover, according to the club’s accounts released today. 

Turnover was slightly down on the previous year – £80.5m from £82m – mainly due to four fewer games being picked for live TV and a fall in both gate receipts and Season Ticket numbers. All revenue contributors have since shown encouraging signs of recovery in the current financial year with Season Ticket sales up by 6.4% on the 2011/12 season and, most recently, the sale of over 1,000 Half Season tickets.

Sponsorship revenue showed encouraging signs of growth – up to £7.1m from £6.8m. Further new partnership agreements made with kit supplier Nike and secondary ticketing marketplace StubHub do not fall into 2011/12 financial year.

The continual search for operational efficiencies delivered cost savings and resulted in other operating expenses (including running Goodison Park, and the Finch Farm Academy and Training Complex) falling for the second successive season to £22.7m [2010/11 – £23.6m].

Chief executive Robert Elstone said: “The Club has demonstrated its commitment to first team success with increased expenditure on player wages. We continue to try to enhance our competitive position and, at the same time, manage cost base and debt levels effectively. To get through a challenging year with only minimal increases in overall debt whilst at the same time, based on the opinions of many experts, strengthening our first-team squad is testament to the skill, hard work and commitment of the manager, the chairman and all their support teams.

“I’m also delighted to report, those on-field performances, boosted by new signings in the summer, have made a considerable impact on the current season. Buoyed by excellent Season Ticket sales, which have been lifted further by record Half Season ticket sales and new commercial partnerships with StubHub and Nike, the Club’s turnover projections for 2012/13 are healthy.

“We continue to demonstrate on-field ambition, whilst at all times maintaining a close eye on our entire cost base.”

Everton chairman Bill Kenwright reaffirmed that the search for new investment at Everton continues, adding: “My desire to find a person, or institution, with the finance to move us forward has not diminished. Despite the challenges presented by a global economic downturn, we remain positive and determined. 

“My commitment to serve this football club to the very best of my ability remains a constant in my life and I am aware of the trust you put in me to do that.”

Former Endemol employee, Alfonso Medina has been announced as the new Head of Media Rights at The Football League.

Medina has more than ten years of commercial and broadcast experience in the sports industry and joins The League from Endemol International where he was Director of Sales, Sports Rights.

Football League Chief Commercial Officer Richard Heaselgrave said: “I’m delighted to welcome Alfonso to The Football League.  His international experience of sports broadcasting, including production and programming, will be a huge asset as we enter an important era in the sports rights market.”

Alfonso Medina, Head of Media Rights, The Football League added: “This is a terrific opportunity and I look forward to working with our broadcast partners and clubs to help build the profile and commercial value of The Football League’s media and digital assets in the UK and around the world.”

Medina has also worked for the International Tennis Federation and ESPN and has experience in the sales and distribution of audiovisual rights in to a wide variety of properties including UEFA Europa League, Major League Soccer, Dublin Super Cup, National Hockey League, NASCAR, International Rugby Board, Major League Baseball and the Davis Cup.

The International Cricket Council (ICC) on Tuesday, accepted the nomination of Bangladesh’s Mustafa Kamal for the post of its vice-president from 2012 to 2014.

The ICC took the decision of elevating Kamal at its Board meeting. Kamal will now be required to step down from the post of president of the Bangladesh Cricket Board (BCB).

“The ICC Board today accepted the joint nomination of Pakistan Cricket Board (PCB) and BCB of Mustafa Kamal to the role of ICC Vice-President for 2012-14 and then subsequently as President 2014-15,” the ICC said in a statement.

Kamal will succeed current president Alan Isaac after working with him as his deputy.

Soccerex is proud to announce that the President of the Nigerian Football Federation, Alhaji Aminu Maigari has confirmed he will be attending the Soccerex Seminar Lagos, 27 – 28, September. He will be delivering a keynote speech as part of the opening session entitled Football in West Africa. The session already includes the Chairman of the Lagos State Football Association, Seyi Akinwunmi and President of the Ghana Football Association Kwesi Nyantakyi.

The Nigerian Football Federation was formed in 1945 and became affiliated with CAF in 1959 and FIFA in 1960. As of 2008 it organises three leagues and five cup competitions. Alhaji Aminu Maigari stated: “This is a landmark achievement that should be celebrated considering what Soccerex has been doing in the area of business for the past one and a half decades. The NFF is encouraging all efforts and endeavours geared towards promoting the game and making Nigerian football a bigger brand than it ever was.”

The Soccerex Seminar Lagos will deliver a conference agenda exploring current football business topics in West Africa and will gather speakers from regional rights holders, governing bodies and agencies along with internationally-renowned personalities to debate key issues such as youth development, doing business in West Africa, lifecycle of an African player and football’s social responsibility.

Following this recent addition to the growing line-up of senior speakers Duncan Revie, CEO of Soccerex added “We’re delighted to have the support of the Nigerian Football Federation and view this is a seamless continuation of our fruitful relationship with the Lagos State Football Association. The aim of the Soccerex Seminar Lagos is to develop football in West Africa. Having the Nigerian Football Federation and the Lagos State Football Association on board is crucial and will only contribute towards that development. Lagos and Nigeria will be welcoming the world of football with open arms this September.”

For more information on the Soccerex Seminar Lagos please go to www.soccerex.com/lagos

For the first time in six years, Premier League outfit, Wigan Athletic have announced a net profit of £4.3m.

This is compared to a £7.2m net loss in 2011.

The figures cover the season 2011-12 when Latics achieved 15th position in the Premier League. 

EBITDA (earnings before interest, tax, depreciation and amortisation of players) was £8.9m compared with £4.9m in the previous year. 

Turnover increased to £52.6m compared to £50.5m in 2011. 

Salary costs were the most significant expenditure but these reduced to £37.7m compared to the previous year cost of £39.9. Total administrative expenses including amortisation of player contracts reduced to £55.0m from £58.4m in the previous year. 

During the year the Club invested £10.4m on new players whilst profit from the sale of players increased to £7.9m from £2.3m in the previous year primarily due to the sale of Charles N’Zogbia to Aston Villa. 

Net debt at the year-end including bank borrowings and loans from Chairman David Whelan and his family reduced significantly to £20.5m compared with £72.2m in the previous year. During the year £48m of debt was converted to equity which significantly reduced the Club’s long term liabilities. At the same time the ordinary and preferred ordinary shares of the Club were transferred to a new parent company, Wigan Athletic Holdings Limited which also holds a controlling interest in the company operating the DW Stadium. 

Chief Executive Jonathan Jackson commented, “The results are once again encouraging and we are very pleased to report a net profit position in a very competitive environment. By increasing turnover and controlling costs the Club is continuing to progress to a break even operating position which all football clubs are aspiring to but many are finding it difficult to achieve. 

“We continue to maintain our position in the Barclays Premier League by significant investment in the playing squad to strengthen our position on the field in our eighth year in the top division. In addition, major improvement of our academy and training facilities will commence this year to expand our strategic aim of consolidating and enhancing our infrastructure with increased focus on youth development. This would not be possible without the continued financial support of Chairman, David Whelan who remains an enthusiastic and committed owner who has taken his home-town club from the lower reaches of the Football League to being an established Premier League club. The conversion of £48m of debt to equity has significantly strengthened the Club’s financial position and has, to a very significant extent, written off the debt owed to Mr Whelan.” 

“With significant increases in revenues forecasted for Premier League clubs from broadcasting agreements next year, the Club is ideally placed to continue its organic growth and continue to compete in the highest profile and most competitive league in the world from a sound and sustainable financial position.”