By Peter Lynch
Everton have had to “walk a tightrope” due to their perilous financial situation, according to the Liverpool Echo’s Dave Powell.
The journalist reported for the publication’s website on Monday (4 September) that the Toffees have, however, eased the situation with player sales this summer.
Everton sold a handful of players in the summer transfer window, including Alex Iwobi to Fulham for £22million on deadline day.
“Everton have had to walk a tightrope between not drastically damaging their competitive edge and ensuring that they get themselves on a firmer financial footing given the collapse of the MSP Sports Capital deal to take equity in the club (the US firm are still providing a separate £100m loan for the next tranche of funding required for the stadium build),” Powell wrote for the Liverpool Echo.
“Cash flow will be one area that the club will have been looking to address, hence the continued search for a minority partner in the club to recapitalise the business.
“So, how has the summer business impacted Everton’s finances? In total, including potential add-ons, some £68m has been achieved through player sales. Some of that is money that can be booked into the accounts for Everton immediately, although the profit on the deals varies.”
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Any financial boost will be welcomed with open arms by the powers that be at Everton, with the club really struggling in this regard in recent times.
There has been so much movement at the Merseyside outfit this summer, both in terms of incomings and outgoings. Whether or not the deals have made the Toffees a better club on the pitch, however, remains to be seen.
Having flirted with relegation from the Premier League for the past two seasons, Everton have started the new campaign in disappointing fashion once again.
The Toffees currently sit in the relegation zone after four matches, picking up just one win so far thanks to their 2-2 draw with Sheffield United on Saturday (2 September).
That followed three successive defeats against Fulham, Aston Villa and Wolves, three matches in which the Toffees failed to find the back of the net, finally breaking their duck against the Blades.
In other Everton news, the Toffees plan to reintegrate an angry player barring an unexpected late change, according to David Ornstein.
By Peter Lynch