While the savings will be eaten into as the squad is rebuilt, some of the club's top earners have departed
Dominic Calvert-Lewin of Everton celebrates with teammate Abdoulaye Doucoure during the Premier League match between Everton FC and Burnley FC at Goodison Park in April 2024. Both players are among around a dozen set to formally leave Everton this week. Photo by Matt McNulty/Getty Images) (Photo by Matt McNulty/Getty Images
Dominic Calvert-Lewin of Everton celebrates with teammate Abdoulaye Doucoure during the Premier League match between Everton FC and Burnley FC at Goodison Park in April 2024. Both players are among around a dozen set to formally leave Everton this week. Photo by Matt McNulty/Getty Images) (Photo by Matt McNulty/Getty Images
Everton’s wage bill has been reduced by hundreds of thousands of pounds per week with the departure of 13 senior players. The club has moved to reduce its squad costs over recent years - a necessity given the financial constraints it was operating under.
Issues with both the Premier League’s spending regulations and the club’s own financial stability were factors in efforts to drive it down. Across the 2023/24 season, the last for which figures are publicly available, the wage to turnover ratio effectively fell from 89% to 81%, a key driver in efforts to make the club more sustainable.
The sales of Ben Godfrey and Amadou Onana and the release of high earners Dele and Andre Gomes may have brought that figure down further last season - though contributions towards the wages of the five loanees the club signed and the permanent additions of the likes of Iliman Ndiaye and Jake O’Brien would have eaten into some of those savings.
The now-confirmed departure of other top earners Dominic Calvert-Lewin and Abdoulaye Doucoure and the release of players including Asmir Begovic and Ashley Young, combined with the return of the loan players to their parent clubs mean Everton start July with a significantly reduced wage bill.
Idrissa Gueye and Michael Keane are now free agents but both are in talks over new deals - though any new offers are likely to reflect the prudence expected to be exhibited this summer.
That was one factor in the departure of Doucoure as Everton refrained from extending his deal on its existing terms despite his importance under Sean Dyche and David Moyes.
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Neal Maupay and Mason Holgate also fall away from the responsibility of the club. While they have each spent the last two seasons on loan, with Everton receiving contributions towards their wages, covering their salaries is no longer required.
Reducing the wage bill was a key ambition of former director of football Kevin Thelwell. Through his three and a half years in post, the club’s net spend was around £120m less than the closest Premier League club that was ever-present in the top flight through that period and the approach that drove that reduction was replicated in other areas of spending.
While the new financial year that is now underway offers Everton greater opportunity to spend money on transfers and wages, the club is still aiming to be sensible as it seeks to build towards progress that can be maintained.