Everton summer transfer business could now be ramped up as reset button hit

Evertonians have had to be patient during the opening weeks of the summer transfer window. While clubs across the Premier League have been making deals, things have been dormant at Goodison Park when it comes to incomings.

That's despite the Toffees undoubtedly needing reinforcements after successive relegation battles. Attacking players are a necessity given the lack of firepower last season as Everton finished the second-lowest scorers in the table. A new left-back to provide cover and competition for Vitalii Mykolenko is another priority as well as an additional centre-midfielder. A back-up goalkeeper to Jordan Pickford may also be required while central defence could be bolstered.

Yet the precarious financial situation is one that still overhangs Everton, having recorded combined losses of more than £400 million and has meant the club has been impacted by Premier League profit and sustainability rules. Over a three-year period, no team is allowed to lose a combined £105 million.

The Toffees' profligacy in the transfer market after Farhad Moshiri's arrival as owner in 2016 and the persistent changing of managers has put the club in a perilous position.

However, things have at least improved of late. In the latest set of accounts for 2021-22, the Toffees recorded losses of £44.7 million. That was a reduction of £76.6 million from the previous year's loss of £121.3 million.

A significant reason was the player sales that Everton agreed. Richarlison departed to Tottenham Hotspur for £50 million on the last day of the financial year, while the exits of Lucas Digne and James Rodriguez raised a total profit of £67.7 million.

Further cash raised from exits will ensure the books are further balanced when the accounts are released next year. Anthony Gordon was sold in the January transfer window to Newcastle United for a fee that could rise to £45 million. Meanwhile, Moise Kean's loan to Juventus has been turned permanent for £25 million. Allan and Nathan Broadhead also departed to Al Wahda and Ipswich Town respectively.

Things seemingly are starting to look more positive when it comes to profit and sustainability rules. And now the new financial year has reset today (July 1), business now could start to kick into action.

That's not to say that Everton can go and splash the cash. Far from it. Deals have to be astute and a degree of composure may still be required. Sean Dyche will be wary that the Blues are not at the top of the pecking order and may have to wait for the proverbial dominos to start falling before he can act.

Dyche and director of football Kevin Thewell will undoubtedly have a list of targets drawn up. Perhaps now, things may step up a notch.