Now the club has revealed further losses, with a total loss of 89.1 million from the most recent financial period.
The club outlined their perilous situation within the report, stating: Collectively, the above conditions indicate the existence of a material uncertainty that may cast significant doubt about the group's ability to continue as a going concern.
"The board is confident that funding will be secured or refinanced and that they will be able to achieve the levels of revenue and savings to allow the group to continue in operational existence for a period of 12 months after the date of signing these financial statements."
There is the possibility of the Toffees being docked more points for this season's league table. 777 Partners are in advanced talks to buy the club.