Everton’s biggest net spend – how they are turning fortunes around

In January David Moyes was appointed Everton manager for the second time with the club one point above the relegation zone.

Eight months later and the club have turned a significant corner, avoiding the drop by 23 points, moving to the state-of-the-art Hill Dickinson Stadium and bringing in nine players in a summer of record recruitment.

No side have picked up more points than Everton since the start of May, and they sit fifth in the Premier League.

The biggest challenge facing Everton this summer was how best to overhaul a threadbare squad following the departure of nine senior players, including first-team regulars Abdoulaye Doucoure, Dominic Calvert-Lewin, Jack Harrison and Ashley Young.

The response has been comprehensive.

Everton have signed nine players at a net cost of £97m (based on initial fees), their highest net outlay in a summer transfer window and more than they had spent over the previous seven seasons combined (£71m).

It is a significant turnaround for a club which have twice been subject to points deductions for breaching profit and sustainability regulations (PSR) and only escaped relegation on the final day of the season two years ago.

“If you’d told me that this summer we’d do a net spend of that, I’d have been excited and delighted,” says former Everton midfielder Leon Osman.

“Yes, we wouldn’t mind another defender, due to injuries, and a 30-goal striker, but for one window it’s outstanding.

“It’s exciting times for everyone.”

Should Merlin Rohl’s loan move from Freiburg be made permanent for an agreed £17m – the reported stipulation is that Everton need to avoid relegation for the clause to be triggered – their net spend will climb to £114m.

In the summer of 2020, with Carlo Ancelotti at the helm, Everton recruited six players, including Real Madrid’s James Rodriguez, for a net spend of £77m.

Everton’s financial outlook has been improved by a combination of factors.

Spending between January 2021 and January 2025 was effectively non-existent, with the club instead making £86m in profit from player sales to help balance the accounts.

The takeover by the Friedkin Group has been transformational, with Everton’s crippling debts turned into equity, repaid or refinanced on more favourable terms.

Significantly, most signings made this summer were completed after the end of the Premier League’s financial year on 30 June, helping to manage future PSR calculations.

Only the decision to turn Carlos Alcaraz’s loan move from Flamengo into a permanent deal was finalised before the start of July.

The second part of Everton’s challenge this summer was to learn from past mistakes.

During the near nine-year ownership of Farhad Moshiri, eight players signed for at least £20m left for nothing, meaning that £188m in fees effectively walked out of the door – an unsustainable economic model for a club with limited resources.

Osman says Everton have realigned their transfer strategy to best suit the needs of the club, underpinned by marquee loan signing Jack Grealish, who faces former club Aston Villa on Saturday.

The England winger has provided two assists in each of his two Premier League starts for Everton, having done so only twice in his previous 191 league appearances.

“He’s arguably the best signing by any club this summer,” said Osman, who made 437 Everton appearances between 2003 and 2016.

Fellow new arrival Kiernan Dewsbury-Hall, signed from Chelsea for an initial £24m, averages more chances created per game than any Everton player since the start of last season, while young centre-forward Thierno Barry, a £27m arrival from Villareal, has impressed with his hold-up play in four appearances.

Tyler Dibling, Everton’s biggest summer signing – the fee could rise to £40m – is yet to feature in the league but adds another dynamic option to an attack which ranked 18th in the top flight for goals from open play last season (25).

The early signs are that Everton’s recruitment has been more successful than in recent seasons – a satisfactory end to a window in which Moyes had earlier aired his frustrations at a lack of activity.

“Moyes has signed players that will be good in the dressing room – they bring energy and a little bit of everything,” said Osman.

Despite their significant outlay on transfers, Everton have not turned into one of the Premier League’s biggest spenders.

Osman, who spent time on Everton’s pre-season tour to the US, believes Moyes will be targeting a first trophy for the club since the 1995 FA Cup.

“This is what Premier League football is all about – you do a fantastic job and suddenly expectations are through the roof,” Osman said.

“But if you take a step back, mid-table would be a really good stride forward. David Moyes will manage those expectations.

“The team has to keep enjoying themselves. They’ve shown their quality; they’ve shown their levels of performance. They need to demand it from each other.