Everton on course for FFP trouble amid £80m confirmation - Kieran Maguire
Everton spend £80million more on wages now than they did in 2016 – but they may run into FFP problems as their revenue has not increased at the same rate.
That is according to finance guru and Football Insider columnist Kieran Maguire, speaking exclusively after Everton announced on 4th June that four players will soon leave the club.
Theo Walcott, Muhamed Besic, Yannick Bolasie and Josh King were all named on the Toffees’ released list.
According to the Guardian last Friday, Everton will save approximately £12million annually in wages after getting the quartet off the books.
But after Everton posted losses of £139.9m in their last annual financial report, there are still concerns within the club about financial fair play.
Maguire highlighted Everton’s wage spend has ballooned disproportionately in recent years when compared to their revenue.
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He told Football Insider correspondent Adam Williams: “We have seen the model of clubs such as Man United and Brighton of offering new deals to players who are almost out of contract.
“Or, they can trigger the option of a one-year extension then sell the player because that then prevents them from leaving on a Bosman.
“But as far as Everton’s wages are concerned, if take a look at 2016-2020 [most recent figures], wages went from £84m to £165m.
“That’s an increase of £81m during the same period that revenue only increased by £60m. Some of that was on the back of the unusual naming rights deal with Bramley Moore Dock.
“So Everton need to address cost issues. From a financial fair player perspective, it’s not sustainable.”