Whelan issues 'massive' Everton claim pre-January after £140m reveal
Everton have to be “wary of where they are financially” after spending “a lot of money” in recent years, according to Noel Whelan.
The former Leeds striker, speaking exclusively to Football Insider, suggested the construction of the Toffees’ “massive” Bramley-Moore Dock arena could complicate the club’s situation.
As quoted by the Times on November 6th, manager Rafa Benitez admitted: “I think we will have some money to spend [in January] but I don’t think it will be too much.”
Everton lost a staggering £139.9m over the last financial year, which has caused restrictions to hinder their recruitment ambitions.
The Toffees spent just £1.8million during the summer window, their lowest outlay for a decade.
Whelan insisted Everton are not alone in their financial worries after the coronavirus pandemic.
Subscribe to Football Insider TV now
“They’ve gone out and spent a lot of money over the past few years,” he told Football Insider‘s Ewan Kingsbury.
“James Rodriguez and the wages associated with that signing won’t have helped things, but he’s off the books now which is a big plus.
“The pandemic has meant a lot of teams will have to tighten the purse strings, and Everton is one of them – they can’t afford to keep splashing the cash.
“There are only a select few clubs who are capable of doing that right now.
“We saw in the summer they were looking to cheaper, risk-free deals – Andros Townsend, Demerai Gray, and Salomon Rondon being examples.
“They have to be wary of where they are financially, especially with them building this massive new stadium.
“They’ve still got a strong enough squad but they’re missing key players. Once they get their best players back I think we will see results really improve.”