When discussions about the formation of the Premier League were taking place, Everton were regarded as one of the top five clubs in English football. They remain serious contenders and in David Moyes they have one of the most respected managers in English football, often referred to as a possible successor to Sir Alex Ferguson.
After eleven years in charge at Goodison, Moyes is waiting until the end of the season before committing to the club. Everton’s form has faded recently, and with the chances of refreshing England’s contribution to the Champions League.
When discussions about the formation of the Premier League were taking place, Everton were regarded as one of the top five clubs in English football. They remain serious contenders and in David Moyes they have one of the most respected managers in English football, often referred to as a possible successor to Sir Alex Ferguson.
After eleven years in charge at Goodison, Moyes is waiting until the end of the season before committing to the club. Everton’s form has faded recently, and with the chances of refreshing England’s contribution to the Champions League.
Everton’s wage bill was £63.4m last season, 75 per cent of turnover. The club lost £9.1m. There is little hope of further strengthening the side by a spending spree.
Two events in the past have constrained the club’s development. A £30m investment agreed with NTL fell apart when the cable TV company went into bankruptcy. Bill Kenwright and the Everton board reacted by borrowing money to fill the gap. By the time the 25-year £30m loan has been repaid, it will have cost the club £68m.
Everton were offered the chance to have a 55,000-seat stadium on the Mersey waterfront, largely financed by public and European money. The club had to come up with £30m, but failed to do so. A later scheme to move out to Huyton also failed, although leaving Liverpool would have been controversial.
How much all this is the fault of Bill Kenwright and the board is a matter of debate. Everton is an ageing stadium, but new investment has been elusive. There simply isn’t as much quality money available to invest in clubs as was once the case.