Farhad Moshiri announced his first investment in Everton back in February 2016, which was met with an initial wave of excitement.
The club had been desperate for real money to spend for a long time. Many believed this could be the turning point for the Blues to be able to add as much quality to the squad as possible to push into the European places at the top of the Premier League.
However, that certainly hasn't happened. Everton have wasted a lot of money in the last six years and their failures piled up to find them in a relegation fight in 2021/22, with them only securing survival in dramatic fashion.
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There have been six transfer windows since the arrival of Moshiri, but which was the best? We've had a go at ranking them, listing the ins and outs of the first-team stars included in each window.
We've gone from worst to best on our list - and perhaps it's no surprise to see which is first up.
6 - 2017
IN: Davy Klaassen, Henry Onyekuru, Jordan Pickford, Michael Keane, Sandro Ramirez, Wayne Rooney, Cuco Martina, Gylfi Sigurdsson, Nikola Vlasic
OUT: Tom Cleverley, Gerard Deulofeu, Arouna Kone, Romelu Lukaku, Aiden McGeady, Gareth Barry, Henry Onyekuru (loan), Brendan Galloway (loan), Tyias Browning (loan), Matthew Pennington (loan), Kieran Dowell (loan), Antonee Robinson (loan)
Look at all those attacking midfielders. You sometimes forget just how muddled the strategy was even at this early stage of Moshiri's time at the club.
Davy Klaassen was hailed when he joined, but only last one season as he failed to adapt to the league. Wayne Rooney was mainly utilised as a second striker or attacking midfielder upon his return, often pushing Gylfi Sigurdsson out onto the flank from his natural position as a No.10.
Add in Nikola Vlasic who also preferred that role and you've got major issues. There was no replacement for Romelu Lukaku's departure as Sandro Ramirez failed to adapt to England on his massive wages, while Gerard Deulofeu's departure was probably an underrated hit too.
Successes came in the form of Jordan Pickford and, to an extent, Michael Keane - although both have had their fluctuations in form to varying extents. The former can go down as a genuinely great transfer though.
The rest? Well you'd be hard-pressed to even describe them as "good" realistically. It might be in a real challenge to be the worst with the next on the list, but it just takes the mantle for us.
5 - 2019
IN: Andre Gomes, Jonas Lossl, Fabian Delph, Jean-Philippe Gbamin, Moise Kean, Alex Iwobi, Djibril Sidibe (loan)
OUT: Phil Jagielka, Ashley Williams, Nikola Vlasic, Brendan Galloway, Antonee Robinson, Ademola Lookman, Idrissa Gueye, James McCarthy, Henry Onyekuru, Kevin MIrallas, Jonjoe Kenny (loan), Sandro Ramirez (loan), Kieran Dowell (loan), Joao Virginia (loan), Luke Garbutt (loan), Muhamed Besic (loan), Matthew Pennington (loan), Yannick Bolasie (loan)
At the time, and on paper at least, this looked like it could have been a strong window for Everton to build upon what had come the season before under Marco Silva. They had invested in important areas of the pitch and while there were some important departures, it seemed they might have been offset.
Looking back at it now, though, and there's real issues. Whether that be down to injuries, loss of form or all manner of issues - hardly anyone on the list lived up to their expectations.
Jean-Philippe Gbmain couldn't fill the hole left by Idrissa Gueye thanks to his huge injury issues, while Fabian Delph suffered lesser problems which still stunted his ability to provide a cool and experienced head to the middle of the pitch. Andre Gomes didn't live up to his form from his first season and himself suffered a long-term injury, Moise Kean couldn't hit the ground running after his big-money move and Jonas Lossl eventually left having not made a competitive appearances for the club.
Alex Iwobi in only just finding his best form almost three years after this move, which can hardly be maintained as a success. All-in-all, this window probably spelled the end for Silva.
4 - 2021
IN: Andros Townsend, Asmir Begovic, Demarai Gray, Andy Lonergan, Salomon Rondon
OUT: Muhamed Besic, Yannick Bolasie, Joshua King, Matthew Pennington, Theo Walcott, Bernard, Beni Baningime, Thierry Small, James Rodriguez, Joao Virginia (loan), Moise Kean (loan), Niels Nkounkou (loan)
The cheapest summer transfer window since Moshiri first came to the club was necessary, as the club's previous failings had led them down a dreadful financial path. The previous two transfer windows already listed and the mistakes across the board probably best sum that up.
Given a bad hand, Rafael Benitez managed to add to the squad with the arrivals of Demarai Gray and Andros Townsend - who both made important contributions throughout the season. Meanwhile Asmir Begovic provided solid back-up for Pickford, and will stay on for at least another year with the club.
Andy Lonergan didn't play a game for the club and Salomon Rondon consistently failed to inspire, but a lot of wages were recouped from the exits of the likes of Theo Walcott and Bernard.
All in all, it was probably a necessary window for Everton, but it was hardly inspiring.
3 - 2016
IN: Maarten Stekelenburg, Idrissa Gueye, Ashley Williams, Yannick Bolasie, Dominic Calvert-Lewin, Enner Valencia (loan)
OUT: Tony Hibbert, Leon Osman, Steven Pienaar, Tim Howard, John Stones, Darron Gibson, Bryan Oviedo, Luke Garbutt (loan), Brendan Galloway (loan), Aiden McGeady (loan)
This was the first opportunity for Evertonians to see the new financial power that Moshiri would bring to the club, but looking back it perhaps wasn't spent in the ways many would have been expecting.
Idrissa Gueye was a quality purchase who would go on to have a huge influence during his time on Merseyside and his arrival puts this transfer window a little higher. Ashley Williams was brought in to fill the gap in the squad left by the big-money exit of John Stones, but his spell as a whole left a lot to be desired.
Yannick Bolasie was the biggest investment made over this spell but a long-term injury ended his campaign halfway through, and his time at Everton never really recovered from that point. The window also saw stalwarts such as Tony Hibbert, Leon Osman and Steven Pienaar leave the Blues.
Two success stories in Gueye and the arrival of a young striker called Dominic Calvert-Lewin give this a high ranking.
2 - 2020
IN: Niels Nkounkou, Allan, James Rodriguez, Abdoulaye Doucoure, Ben Godfrey, Robin Olsen (loan)
OUT: Morgan Feeney, Luke Garbutt, Cuco Martina, Oumar Niasse, Morgan Schneiderlin, Leighton Baines, Kieran Dowell, Maarten Stekelenburg, Sandro Ramirez, Moise Kean (loan), Theo Walcott (loan)
The only summer transfer window that Carlo Ancelotti was able to lead saw the club address some major flaws in the squad with players that would prove crucial to their style for the season. The likes of Allan, Abdoulaye Doucoure and James Rodriguez were something of a departure from the younger talent usually scouted - but they were effective in how the manager wanted to set up his side.
The loan of Robin Olsen provided strong back-up for Pickford, and his rotation into the starting 11 actually sparked the brilliant run of form the England international has been on. Ben Godfrey was another strong signing, becoming one of his side's best and most versatile players towards the end of the campaign particularly.
The exits of Sandro Ramirez, Oumar Niasse, Cuco Martina, Moise Kean and THeo Walcott also freed up a lot of wages for the Blues to be able to confirm those arrivals. In a general sense, this was a fairly strong, if not perfect, window which seemed to have an actual direction behind it.
1 - 2018
IN: Richarlison, Lucas Digne, Joao Virginia, Bernard, Yerry Mina, Andre Gomes (loan), Kurt Zouma (loan)
OUT: Ramiro Funes Mori, Joel Robles, Wayne Rooney, Davy Klaassen, Henry Onyekuru (loan), Ashley Williams (loan), Antonee Robinson (loan), Kevin Mirallas (loan), Nikola Vlasic (loan), Cuco Martina (loan), Muhamed Besic (loan), Yannick Bolasie (loan), Sandro Ramirez (loan), Matthew Pennington (loan)
Well the first two transfers there should realistically be enough to prove this position on the list by themselves. Richarlison has been a phenomenal addition to the club and, if he leaves this summer, he will make the Blues a lot of money in profit despite his lofty price tag at the time.
The task of stepping into Leighton Baines' shoes in the side was never going to be easy, but Lucas Digne managed it in fantastic fashion in his first campaign at the very least. His departure still stings, despite how well Vitalii Mykolenko is doing in that position now.
Bernard was a free transfer that maybe didn't live up to the hype sometimes, but did provide some important contributions. Yerry Mina is still Everton's best centre-back when fit, Kurt Zouma was a fantastic addition for the season alongside him on many occasions, and Andre Gomes' loan spell was certainly a success - even if the permanent move that followed wasn't.
When you consider the outgoings as well, you've got to consider this a fairly strong window, all-told. In fact, probably the best of the Moshiri era so far.
