Everton face major financial crisis if relegated from Premier League
Everton are facing a “major financial crisis” if they are relegated from the Premier League to the Championship this season, according to Daily Mail journalist Kieran Gill.
The newspaper reported in its print edition [14 March, pg 66] that a large number of players would be entitled to the same wages they earn now, even in the second tier.
Compare that to West Ham and Leicester, who have placed relegation reduction clauses in their latest contracts for new signings to protect themselves.
The snippet read: “West Ham and Leicester have protected themselves against the prospect of financial turmoil by inserting relegation wage reduction clauses into the contract of their most recent signings.
“By contrast, a large number of Everton players will be entitled to the same basic wage if they are relegated, which would leave them facing a major financial crisis.”
Joke.
You would have thought by now that Farhad Moshiri and Bill Kenwright will have learned their lessons by now, but they are still running the club as if it is successful.
Last season was a wake-up call in the relegation battle, and with the same fate set to hit us again, you would think that the owner would have prepared for it this time around.
Failure to prepare is preparing to fail, and Moshiri has once again shown his lack of due diligence in running this football club, only concentrating on his own income and the new stadium.
Relegation means you lose £100million of income instantly due to the broadcasting rights, so paying these gigantic Premier League wages won’t be easy.
It would likely mean that a huge fire sale would need to take place to sell most of those already at the club to balance the books, with everything riding on survival again.
Sean Dyche is doing a cracking job so far, but he needs to finish the job – it looks like a lot is riding on this at Everton football club.