By Kieran Maguire

12th Jun, 2022 | 3:50pm

Kieran Maguire issues £183m Everton reveal after 'PR stunt'

Farhad Moshiri’s apology to Everton fans comes across as “tokenism” and “a PR stunt”, according to Kieran Maguire.

The finance expert, speaking exclusively to Football Insider, revealed Everton’s wage bill has more than doubled under Moshiri’s ownership while the club have also spent more than £500million on transfers.

The Toffees narrowly avoided relegation in the 2021-22 campaign.

On Wednesday (8 June), Moshiri issued a statement to supporters apologising for Everton’s dismal downturn on the pitch.

The 67-year-old also reaffirmed his commitment to the club and the new stadium at Bramley-Moore Dock.

When asked by Football Insider‘s Dylan Childs for his reaction to the statement, Maguire said: “It does come across as tokenism after the event.

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“Ultimately, if you change managers often it is going to be expensive.

“Every manager is going to want to shape the club in his vision. That means you spend a lot of money recruiting players.

“The players that fall out of favour, who are on high wages, end up costing the club a lot of money. Everton’s wage bill went from £84million in 2016 to £183million in 2021. That is not reflective of improvements on the pitch.

“In terms of the transfer spend over that period, it was over half a billion pounds. You can understand why fans are disappointed.

“What exactly is the purpose of the apology? It does come across as a PR stunt rather than a genuine reflection on the capabilities of senior decision makers.”

In other news, Kieran Maguire has issued an ‘unusual’ Everton claim as £10million-a-year deal is confirmed.