Everton officials have addressed concerns over club finances, the January transfer window and who really makes the decisions that define its direction.
As the club hurtled into crisis in January, Everton committed to engaging with the club's Fan Advisory Board as supporters raised issues around transparency and communication. Those fears, along with frustration over the lack of signings and the performance of Everton on and off the pitch over recent years, were clear in the queries that emerged from a series of public hearings that formed part of the process.
A 13-page document has now been published in response, with the club providing answers over issues ranging from the transfer window to whether sanctioned billionaire Alisher Usmanov now has any “financial interest” in the club and if Manchester City owner Sheikh Mansour sounded out Everton over a deal first.
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Everton said the answers had been compiled with input from board members and other senior club officials, while the publication also follows the interview conducted by the FAB with majority shareholder Farhad Moshiri last month.
This is an overview of some of the main topics, with key points including the club stating:
Months of planning went into January transfer window
Money was available and the club is not ‘underfunded’
Sean Dyche felt the squad he inherited had ‘more quality than position stated’
Majority shareholder Farhad Moshiri is not the sole decision-maker
There is a plan in place should the club be relegated
AGMs will not return but board members could provide updates in their own words
Relegation contingency plan, scrutiny of the board and a dream of pushing Everton into football’s ‘elite’
Everton moved out of the bottom three with the crucial win over relegation rivals Leeds United on Saturday. The result, Sean Dyche’s second win in his first three games as Blues boss, lifted hopes Everton can survive a Premier League survival scrap for the second consecutive year. Falling out of the top flight would be catastrophic and the club was asked whether it had considered the consequences and drawn up a plan should the worst happen. It said: “The club plans for all scenarios based on all potential Premier League final positions, given the significant financial implications league placings have.”
The club’s ambitions are loftier than survival though, with it stating there is in fact a vision “to re-establish Everton amongst football’s elite”. This answer was given in response to questions surrounding the scrutiny applied to the performance of the board of directors. They oversaw a strategic review into the club’s football operation following the departure of director of football Marcel Brands in late 2021. It led, in part, to the appointment of his replacement Kevin Thelwell and a host of changes at Finch Farm have followed.
Following a question over why such scrutiny did not extend beyond the football side of the business, the club said: “The business operations of the club are reviewed on a regular basis. The strategic review… was a comprehensive analysis specific to the football operations of the club. It was clearly focused on the need to improve and enhance football operations at all levels, ensuring a more aligned and defined way of working across recruitment, coaching, performance analysis and academy development. The aim of this more aligned football operation is to create the best possible pathway for development of players at every level, driven by collaborative structures, the highest level of professional expertise and decisions guided by data-driven insight.”
Board members could give quarterly updates but no AGM return
Communication has been an area of significant concern from supporters desperate to gain an understanding of what might be happening off the pitch that is leading to trouble on it.
This was clear throughout January, particularly over the sacking of Frank Lampard, the lack of any signings and as a campaign calling for changes to the board gathered momentum. Everton welcomed a suggestion for quarterly video updates from board members and suggested it would consider this. It did state the club has “no plan” to reinstate annual general meetings, once a forum for key figures to take questions in person. The commitment to hold such events was recently removed from the club’s articles of association and is a key factor in the Everton Shareholders’ Association’s call for a vote of no confidence in the club’s leadership.
Everton maintains, however, that it is “fully committed to engagement and collaboration with shareholders and fans”. It sees the FAB as a key component of this approach that is “able to challenge the club’s most senior representatives”. It also said it is committed to dialogue with groups it said represented 100,000 supporters around the world.
January transfer window was key focus ‘for months’
Unsurprisingly, the transfer window came into sharp focus. Supporters remain perplexed over how Everton did not strengthen despite it being publicly acknowledged by Frank Lampard at the start of the year - and before - that additions were needed.
The club said work began to prepare for January from the first of September: “We can assure you Kevin Thelwell and his team began to identify potential January targets as soon as the summer window closed. Recruitment is an ongoing process that never stops. From the outset, we had a clear plan for the January window, which was to focus on adding players who could significantly and immediately improve our starting XI. That was always going to be challenging in what was a very limited marketplace.” The club said once a deal for Arnault Danjuma fell through when the player made a last minute switch to Tottenham Hotspur, “there was only a very small pool of available players who would have improved our first eleven”.
It added that Sean Dyche agreed with the club approach of not signing players who would not improve the starting line-up and that he “felt the squad he inherited has more quality than our league position at the time of his arrival suggested”.
‘Money to spend’ but only within rules
The club also said its efforts were hindered by the club’s “responsibility to also remain compliant with profit and sustainability rules”. Developing on the subject it insisted there was money available to spend but only so long as using it complied with Premier League and UEFA rules. It said: “Over the last seven years, the club has undergone a period of transition and significant investment both on and off the pitch. In line with other clubs who have benefited from such investment, the early stage of that investment does not usually generate immediate financial returns, which is reflected in the losses reported within annual accounts.”
The club stressed it was open about the state of its finances, is not under any “special measures”, and is not ‘underfunded’. Staying with financial matters, the club addressed questions over Usmanov and Everton, stating: “Mr Usmanov does not have any financial interest in Everton.” It added: “Mr Usmanov has never interviewed potential managerial candidates for Everton Football Club - or candidates for any other position within the club.” The club also responded to the claim Sheikh Mansour was interested in the club - saying he did not bid for it before making a move for City - while adding Bill Kenwright remaining as chairman has not been the part of any discussion over its sale.
Club lays out roles of each board member
On the board, the club insisted: “Everton is not run by one single individual.” It said the “operational decision-making process” was overseen by an executive leadership team. And to the question of what each board member is responsible for, it said the four person team has a “balance of expertise” and added:
On Kenwright: “Everton has the longest serving chairman in the Premier League. As well as chairing the board, which ratifies and signs-off on key decisions made by the C-Suite executive leadership team, Mr Kenwright supports the director of football and the club’s football department in negotiating transfers for players both coming in to and out of the club.”
On chief executive Denise Barrett-Baxendale: “The club’s CEO is a respected figure across sport and business that has occupied senior positions at Everton for more than a decade. In her role as CEO, Denise initiates, develops, implements – in conjunction with club’s C-Suite executive leadership team – strategies and processes which aim to achieve sustainable commercial success for the club. This includes leading Everton’s executive team in delivering the new stadium project.
On chief finance and strategy officer Grant Ingles: “[He] has occupied senior roles within other clubs domestically and internationally… Grant is responsible for all financial aspects of the club, including the regular communication of financial performance to the board, driving the profitability of the club, overseeing all banking and funding arrangements, managing the club’s cashflow position, supporting and maintaining governance structures that ensure the financial assets of the club are protected and ensuring that the club complies with all statutory regulations. More recently Grant has been working with the majority shareholder and CEO on delivering the financial business plan for Everton’s move to a new stadium.
On non-executive director Graeme Sharp: “With more than 40-years of expertise at Everton as a player, engagement officer, ambassador and now non-executive director, Graeme Sharp provides input into the club’s football strategy as well as challenges to the board and executives on matters. Graeme is the nominated board liaison official and attends Everton’s Fan Advisory Board meetings.”
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