Kieran Maguire discusses the wage bill at Everton
Football finance expert Kieran Maguire has revealed that Everton are losing £2.5million per week at the moment.
Speaking on the latest edition of the Price of Football podcast about the Toffees and their finances, Maguire was asked about the club’s transfer spending and how it has impacted them.
Well, it seems as if the wage bill has skyrocketed, and the club are now losing huge amounts of cash per week.
He said: “If you take a look at player costs from a club perspective, there’s two elements.
“First of all, there’s wages, and secondly, there’s amortisation.
“The Everton wage bill has doubled since 2016, and if you add wages and amortisation in together, they’ve gone up from £104million in 2016 to £264million by the time we got to 2020.”
Maguire then moved on to talk about what happens when a player leaves the Toffees on a free at the end of their contract.
“So when that player’s contract expires, you get both of those costs [wages and amortisation] off your FFP calculations, which for Everton’s case is absolutely essential,” he added.
“They are losing £2.5million a week.”
Staggering claims from Maguire.
It seems like the years of pretty poor transfer decisions have really come back to bite the Toffees, who are now losing huge sums of money per week.
However, the increase in the wage bill is also incredible, and it is clear that Farhad Moshiri has really tried to push the club on, but ultimately, it hasn’t worked, and they are now paying the price for that.
Of course, the club also have a new stadium on the way, which has cost Moshiri another £100million of his own money already [Liverpool Echo].
It is quite staggering to think that the Toffees are losing more money each week than most of us will ever see in our whole lives.
Certainly, you would think something will have to be done about this situation because surely that can’t continue for very long.
This is a really good edition of the Price of Football podcast, and Maguire has a few interesting points on Everton, and we recommend Toffees fans to read it.
In other Everton news, Rafael Benitez has provided an injury update on Richarlison and Dominic Calvert-Lewin.