Everton release financial results.

Here's a quick run down of the clubs financial performance for the 2001/02 season. THe club's total turnover was £38.2m, up from £32.8m the previous year. This increase was mainly down to an increase in Tv revenue (up to £18m from £12m).

From this turnover Everton produced a pre-tax profit of £1.6m, the first time the club has ended in the black for some time. However, these figures were influnenced heavily by the sales of Francis Jeffers and Micheal Ball, who's combined transfer fee's gave the club £16m. The total staff wage bill for the period was £23.3m, of which £2.2m went to Walter Smith and Archie Knox after they departed last year.

Chairman Philip Carter said of the results: "It is becoming critical for us to continue this trend as we strive to keep the club on a solid financial footing. Much of the pre-tax profit was directly attributable to the sale of home-grown players, ie Michael Ball and Francis Jeffers."