Everton suffer transfer budget blow after cutting ties with Alisher Usmanov
Everton are set to suffer a massive financial blow that could see them operating on a reduced transfer budget going forward.
According to reports from the Daily Mail, the Toffees are facing a “black hole of up to £300million in their playing budget” due to the sanction of billionaire Alisher Usmanov.
The oligarch has been sanctioned by both the EU and the UK because of his close ties with Vladimir Putin who is currently waging a war on Ukraine.
The Toffees made a bold move earlier this week, suspending commercial ties with Russian firms linked to Usmanov – USM, MegaFon and Yota.
The report claims that a deal had been agreed on naming rights for the club’s ambitious new Bramley-Moore Dock Stadium at a minimum cost of £8m per year.
Everton would have benefitted by £300m, and it was planned that the amount would be invested on bolstering the squad.
Survival
These are tough times at the club, but the right decisions have been made.
It could also mean Frank Lampard may have to operate on a tight budget while their ambitious stadium project work goes on.
At the moment, the sole focus lies on securing safety for the next season.
Everton are struggling badly in the Premier League and they sit perilously 17th in the table, only a point and place above the drop zone.
Lampard has brought a fresh new approach since his appointment but the league form needs to improve, especially away from home.
The Toffees face Tottenham Hotspur in their next game in north London, and Lampard will be looking to avoid back-to-back league defeats.
In other Everton news, Stan Collymore unloads after what he was watching in the Toffees clash against Boreham Wood
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