By Sean Fisher

8th Sep, 2023 | 4:00pm

Revealed: Everton land £40m wage boost

Everton lowered their wage bill by £40million over the summer transfer window, Football Insider can reveal.

The Toffees were aware that they needed to thin their squad and their wage bill this window after posting losses of £372million over the past three years.

Sean Dyche was able to bring in five new signings to Goodison Park, while 13 players departed Everton’s squad over the summer.

As revealed by Football Insider on Thursday (8 September), Everton ended the summer transfer window having provided an £82million boost to the club’s finances.

Everton offloaded some of the club’s highest-earning players this summer, including Yerry Mina and Alex Iwobi who earned £120,000 and £100,000 per week respectively at Goodison Park.

Tom Davies, Asmir Begovic and Demarai Gray were also on significant wage packets worth over £30,000 per week each at the Merseyside club.

Overall, Football Insider analysis understands that Everton have cut their wage bill by around £40million even after the arrivals of Beto, Chermiti, Arnaut Danjuma, Jack Harrison and Ashley Young.

Danjuma is understood to be on the highest wages of Everton’s new signings with the 26-year-old earning around £80,000 per week – all of which is being paid by Everton.

Trimming the squad was crucial for Everton this season with the club still funding the construction of the new Bramley Moore Dock Stadium.

Cutting the wage bill is also vital in terms of the club meeting Financial Fair Play regulations, which state that a Premier League side can only lose £105million over a three-year period.

Everton’s wage bill was posted at £162million when their accounts were last released in 2021/22.

In other news, Revealed: Everton forced to sell three stars due to FFP in late drama