The pandemic has given Everton a budget boost because the relaxation of financial fair play means that they can continue to spend big on transfers.

That is according to finance guru and Football Insider columnist Kieran Maguire, speaking exclusively after Everton were given the green light to begin work on a 52,000-seater arena on the site of Bramley Moore Dock scheduled to open in 2024.

Football Insider revealed in February that Everton owner Farhad Moshiri plans to oversee another major summer spree as he chases his dream of European football. 

FFP was relaxed in June in order for clubs to cope with the financial stresses of the pandemic, with 2020 and 2021 now assessed as a single financial year.

And according to Maguire, this will only make Moshiri’s European dream more achievable as he continues to sanction ambitious transfers.

He told Football Insider correspondent Adam Williams: “To a certain extent, Everton will benefit from the next year or two because Uefa have relaxed the intensity of financial fair play because of Covid.

Subscribe to Football Insider TV now

“Clubs in the Premier League are, relatively speaking, are suffering less than clubs in Europe. They have got the TV deal which is better than other European teams have. 

“They would love European football in time for 2024 and I think Moshiri plans more big spending until then. After that, they might move in a more self-sufficient direction.”

Moshiri has underwritten huge losses since taking over at Everton in 2016.

That includes a staggering £139.9million loss in the clubs last set of accounts.

In other news, Everton set sights on signing Championship starlet.