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JUST IN; Everton ‘transfer budget’ comes to light after new owners fork out massive sum.
Everton are precariously positioned just above the Premier League relegation zone, and despite the new ownership of the Friedkin Group promising to “transform” the club, they will be operating on a limited budget in the January transfer window.
Manager Sean Dyche is in urgent need of reinforcements as he fights to avoid relegation. Currently 16th in the Premier League, Everton are just three points clear of the drop zone. While the Friedkin Group’s arrival is expected to bring a new financial era at Goodison Park, Profit and Sustainability Rules (PSR) will restrict the club’s ability to make significant signings this winter.
According to The i, high-profile transfers are “unlikely” in January, and Everton will have to be strategic in the market. Senior figures at the club have reportedly acknowledged that simply spending their way out of trouble is “impossible.”
The Friedkin Group’s spending power could have opened the floodgates for major signings, but much of the £200 million they have invested since their September takeover has been used to pay off debts, fulfill obligations for their new stadium, and cover day-to-day operational costs.
The takeover is nearing the end of a three-month regulatory process, with a positive conclusion expected later this week. The Friedkin Group’s arrival comes at a pivotal moment for the club, not only as they fight relegation, but also as they face urgent contract negotiations. Several senior players are about to enter the final six months of their contracts, allowing them to negotiate pre-contract agreements with foreign clubs starting January 1.
