Everton are emulating Man City and Chelsea amid £12m-a-yr reveal - Kieran Maguire

Everton are attempting to emulate Chelsea and Man City with their approach to wage expenditure. 

That is according to finance expert and Football Insider columnist Kieran Maguire, speaking exclusively after Everton announced their released list on Friday.

Josh King, Theo Walcott, Yannick Bolasie and Muhamed Besic will all leave Goodison Park upon the expiry of their current deals.

On-loan goalkeeper Robin Olsen meanwhile will return to Roma, and the Guardian claims that the quintet’s departure will free up more than £1million per month.

In their last set of accounts, Everton’s wage to turnover ratio stood at an alarming 89 per cent.

Maguire remarked on Everton’s approach to player salaries, comparing their long-term strategy to two of the most successful Premier League teams in recent years.

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He told Football Insider correspondent Adam Williams: “They’ve broadly tried to do the same as Abramovich achieved at Chelsea and Mansour achieved at Man City in a scaled-down version.

“Since Moshiri has come in, especially with the financial support he is getting from Usmanov’s empire in terms of sponsorship, they want to grow the club.

“The correlation between player spend, wages and transfer fees, and league position is a positive one. You’ve got to spend first and then reap the rewards later.

“Leicester are a bit of an outlier. Their wages aren’t cheap, but they are significantly lower than Everton’s.”

Everton posted a £139.9m loss for the last financial year.

Maguire told this site in May that he fears for the club when it comes to operating within FFP.

In other news, pundit drops bold verdict on David Moyes potentially returning to Everton.