Everton ‘suffer record financial losses’, limiting Carlo Ancelotti’s January transfer budget and sparking a squad clear-out, as the gap with Merseyside rivals Liverpool expands
- Everton are set to announce they were hit by a record financial loss last season
- The news will limit Carlo Ancelotti’s spending as he looks to strengthen
- The Italian has been assured funds will be made available for key signings
- Funds will be available for key signings, but the contrast with Liverpool is stark
The contrast between Liverpool and Everton is getting ever more bleak for the Toffees, with the Goodison Park side set to announce a club record financial loss for last season – a blow to Carlo Ancelotti.
Everton have made a speedy turnaround since Marco Silva’s departure, climbing out of the bottom three under Duncan Ferguson and bringing in triple Champions League winner Ancelotti.
However, fans are about to receive bad news, with the Toffee’s preparing to reveal the financial blow in the next days, according to the Telegraph.
Everton are set to announce recording financial losses, a blow to new boss Carlo Ancelotti
The Italian’s spending is set to be capped, but they are in no danger of Financial Fair Play
The Toffees have made a revival since Marco Silva’s sacking, but the news is a blow
Everton will insist they are in no danger of breaching Financial Fair Play, and their plans to progress with long-term investments in the club and stadium are not threatened.
Ancelotti’s spending will be capped this January, though, and the club will offload some squad members to reduce their wage bill – possibly stalling the progress the legendary manager can make.
Silva spent more than £100m in a summer spree, bringing in Alex Iwobi, Moise Kean, Andre Gomes Jean-Philippe Gbamin, Fabian Delph and Djibril Sidide (loan).
Marco Silva spent more than £100m in the summer but it was an ill-fated spree
Everton are still aiming to strengthen this summer, with Juventus defender Merih Demiral a target of Ancelotti’s, as well as a loan deal for Real Madrid’s James Rodriguez.
This season has seen the gulf between the Toffees and rivals Liverpool grow significantly, with the world and European champions storming towards the Premier League title.
The Reds haven’t finished below Everton since 2012-13, with Jurgen Klopp reviving the club’s reputation as one of Europe’s elite.