Everton’s financial troubles are some of the most well-documented in the top flight, likely because few are in such a perilous position, but boast the same magnitude as them.
As such, the media are enjoying a field day with the Toffees, lauding their potential punishment which could see them deducted 12 points and essentially doomed to the drop which they have so staunchly avoided these last two years.
Yesterday’s win over West Ham United offered some respite after a week of true turmoil, but it will just paper over the cracks of the deep underlying issues that plague the Merseyside outfit.
Finance expert Kieran Maguire detailed this earlier today, speaking on his The Price of Football podcast about the clubs whose financial future looks most unsure to him.
Having already named the Sheffield Wednesday and Reading, his third option was tough to admit given he is from the city: ‘It’s got to be Everton.
‘The conduct of Moshiri, the unease that you have in relation to 777 Partners, and it does look like if the deal goes through, and it’s a huge if, then we’re talking frying pan into fire.
‘Those are the three clubs of whom I have the greatest concern with regards to their immediate futures.’
How have Everton lost so much money?
Whilst it is hard to pin down the sole blame for the financial black hole Everton find themselves in, it must mostly be attributed to Farhad Moshiri.
The Iranian owner’s fiscal mismanagement in the transfer market, as well as his numerous managerial movements, have seen money set on fire with little progress.
In fact, the Toffees have regressed under his leadership.
Whilst the club have sought to attribute much of their losses to the COVID pandemic, that alone cannot completely explain how they have lost £430m across the last four years.
With 777 Partners now seeking to save the club from the misery Moshiri has plunged them into, and the businessman equally as keen on selling, perhaps this potential deal has come at the perfect time to absolve their transgressions.
However, that is provided they escape a severe punishment, which could actually throw the future of the club into jeopardy, as Maguire has suggested.
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