Kieran Maguire shares £165m Everton reveal as new document emerges
Everton have a wage bill of £165million and are stuck between a “rock and a hard place” in terms of achieving a more self-sustaining model.
So says finance guru Kieran Maguire, speaking exclusively to Football Insider about Deloitte’s annual review of football finance released on 27th July.
The report claims football clubs could “put the breaks on wage inflation” and emerge from the pandemic as more sustainable in the long term.
Everton were the hardest hit Premier League club in terms of total losses in 2020 after posting a shortfall of £139.9m.
And Maguire claims that it could be a long time before the Toffees are no longer reliant on external investment.
“It will take some time to move in that direction,” he told Football Insider correspondent Adam Williams.
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“The problem that Everton have is that they are between a rock and a hard place.
“Realistically, for Everton to be sustainable, they need to be competing at the top table in Europe two years out of every five.
“Champions League participation can be worth up to £110m in prize money, then you throw in gate receipts on top of that.
“The trouble is, to get to that position you’ve got to narrow the gap between yourself and the other clubs.
“If we take a look at Everton, they are paying big wages by non-‘big six’ standards but not big wages by the standards of the ‘big six’ themselves.
“Everton’s wage bill is £165m, that is the highest of clubs outside the ‘big six’.
“But then you take a look at the step above, you have Arsenal, who have been mediocre, at £225m and Spurs at £181m.
“But Spurs have been punching above their weight for ages and eventually gravity catches up with you.
“That’s the challenge they face. So to be able to recruit players to make them competitive is going to be expensive, and there’s no guarantee that it works.”