Everton have had to endure a period of austerity after suffering financial problems
When Farhad Moshiri acquired Everton back in early 2016 it appeared to herald the start of a new, prosperous era for the football club.
The transfer outlay in the early years was heavy and done with the ambition of bridging the gap between the established clubs that had come to near monopolise the top end of the Premier League, the so-called ‘Big Six’, and the Toffees. It was spending ahead of revenue, something not uncommon in business.
But the flawed strategy around recruitment and execution has meant that the club have been left in a significant financial predicament in recent years, one where cumulative losses over the past five years have exceeded £450m, and where the club faces a Premier League charge over an alleged breach of the League’s profit and sustainability regulations, with a hearing before and independent commission set for next month. The club deny any wrongdoing.
Selling the likes of Anthony Gordon to Newcastle for £45m has allowed them to book all of that as profit given his former status as an academy graduate, with other exits of academy products such as Ellis Simms and Tom Cannon have delivered around £16m in profit this summer. Then, of course, there have been the sales of the likes of Richarlison, Lucas Digne and Moise Kean in recent seasons, all exits that have allowed Everton to reduce their losses.
Only two clubs have a negative net spend over those five years. Brighton & Hove Albion are a club who many seek to try and replicate, with the Seagulls having found enormous success in the transfer market in identifying young talent from across the globe, acquiring them cheaply and giving them the shop window they need in the Premier League.
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