Kieran Maguire: Everton face financial calamity if they get relegated from Premier League
Kieran Maguire claims that Everton could face a financial calamity if they get relegated from the Premier League this season.
The Toffees are only outside the relegation zone because of a superior goal difference.
They currently have wages that are 89 per cent of their revenue, which is a cause for concern if they do not get Premier League’s TV money next term.
Speaking to the Times, about the Toffees ‘calamity’, finance expert Maguire said, “Relegation would certainly have a huge impact on the club financially. The profit and sustainability rules are much tougher in the EFL than in the Premier League.”
“The [financial] results in 2019, pre-Covid, are indicative of the challenges they have. You put that into a Championship environment and the only way to continue would be to sell players, and they certainly have some that would attract interest.
“The club have invested a lot in talent and that comes at a cost, which has contributed to their losses. Their wages are 89 per cent of [their] revenue, and that is well above the red line.”
Massive
Relegation is not an option that Everton must even entertain.
The Toffees are in a bad place but things can always get better.
If they fail to avoid the drop, there’s a good chance that most of their key players leave.
One because they’re clear of the Championship standards and second because the club will not be able to afford them.
Frank Lampard has to avoid being known as the manager who took the Toffees down and he’s got to tailor his methods to deliver results for them.
In other Everton news, Manchester United boss Ralf Rangnick has apologised to Everton with regard to his comments about them due to what’s been going on at Chelsea.
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