Alisher Usmanov’s deepening relationship with Everton Football Club was the headline news from a general meeting that also saw the announcement of record losses of £111.8 million for the last financial year.



The agreement of a £30 million purchase option deal with Usmanov’s USM for the naming rights to Everton’s new stadium went some way to mitigating the record losses announced on Tuesday at Liverpool’s Philharmonic Hall.



Factoring in the latest set of accounts, Everton have now suffered cumulative losses of £94.4 million over a three-year period prior to the various adjustments, such as academy expenses, that would normally be made in financial assessments.



It leaves them £10 million clear of the benchmark figure of £105 million stipulated in the Premier League’s guidelines for the same period. The £30 million profit recorded in 2017 has been crucial to landing on the right side of the line...