Kevin Thelwell reveals Everton spending admission last two years and makes honest PSR claim
Kevin Thelwell has revealed Everton have made more than £60 million profit in player trading during his time at the club.
Thelwell has served as director of football at Goodison Park for two years after succeeding Marcel Brands. It's been a difficult period in terms of finances which the ex-Wolves man has had to deal with.
Richarlison, Anthony Gordon, Alex Iwobi and Demarai Gray have all been sold - along with academy products Tom Cannon, Ellis Simms and Ishe Samuels-Smith to help balance the books. Meanwhile, the likes of Amadou Onana, Dwight McNeil and Beto have all been purchased for fees.
Everton did not make a signing in the January transfer window. Finances remain tight amid being hit by a 10-point deduction by the Premier League for breaching profit and sustainability rules - although the club await the outcome of an appeal hearing - while they have been charged with a second alleged breach. What's more, a takeover from 777 Partners is still to be ratified.
In a message to fans via the club's website, Thelwell said: "Ensuring we operate in a way that protects us for the future has been a key priority from my first day at the club. It isn’t possible to change direction quickly within the constraints of PSR, but what has been evident over the four transfer windows I’ve navigated in my time at Everton has been an ongoing focus to make the club more sustainable. In that time, a net receipt from player trading of more than £60m, a wage bill steadily and consistently trending in the right direction and outlay on agent fees vastly reduced continues to demonstrate our plan is being adhered to. Our football strategy is a long-term plan which we must remain focused on, even when the short-term reality can be incredibly challenging."
Thelwell had admitted heading into January that it was unlikely much business would be done by Everton. That was replicated throughout the Premier League. He added: "As I explained when I wrote to you in December, January was a transfer window we approached with pragmatism, in the knowledge there was unlikely to be a great deal of activity taking place. Indeed, it was a very quiet transfer window for the whole of the Premier League, with only eight clubs making permanent signings, and the total spent almost £800m less than in January 2023.
"Whilst we didn’t add new faces, we believe we have a strong and robust squad capable of dealing with the challenges in the second half of the season. We have strength in depth in key areas, supplemented by several players capable of fulfilling roles in different positions. That has been demonstrated in the past six weeks as we have contended with a busier than normal treatment room."