Everton F.C. is a limited company with the board of directors holding a majority of the shares. The club's most recent accounts, from May 2014, show a net total debt of £28.1 million, with a turnover of £120.5 million and a profit of £28.2 million. The club's overdraft with Barclays Bank is secured against the Premier League's "Basic Award Fund", a guaranteed sum given to clubs for competing in the Premier League. Everton agreed a long-term loan of £30 million with Bear Stearns and Prudential plc in 2002 over the duration of 25 years; a consolidation of debts at the time as well as a source of capital for new player acquisitions. Goodison Park is secured as collateral.
What is the Premier League's "Basic Award Fund" for?
competing in the Premier League