By Martin Graham
When David Moyes returned to Everton in January, the side was hovering just one point clear of the relegation places. Eight months on, they have surged up the table, steering 23 points clear of the drop zone and climbing to fifth in the Premier League.
Their revival coincided with a busy summer in which they brought in nine additions after nine senior figures moved on, including Abdoulaye Doucoure, Dominic Calvert-Lewin, Jack Harrison, and Ashley Young.
The reshaping of the group cost a net £97m based on initial fees — their biggest net spend in any Premier League window and more than their combined total over the past seven years (£71m). Should an obligation-to-buy clause turn Merlin Rohl’s loan from Freiburg into a £17m permanent switch, that number would reach £114m.
This summer’s figure eclipses the £77m net spend during Carlo Ancelotti’s tenure in 2020 and dwarfs the 2017 summer outlay of £140m, which was offset by Romelu Lukaku’s £75m sale, leaving a £48m net spend.
Financial reset and new backing
This transfer surge has been enabled by a significant financial reset. From January 2021 to January 2025, Everton’s recruitment was minimal, with £86m raised from outgoing transfers to stabilize their books.
The takeover by the Friedkin Group has transformed their situation, with major debts converted to equity or refinanced. Importantly, most summer arrivals were completed after 30 June, meaning they fall into the next Premier League financial year and ease pressure on profit and sustainability rules.
Their move into the new Hill Dickinson Stadium, with 52,769 seats — over 13,000 more than Goodison Park — will also deliver increased matchday income and expanded corporate hospitality opportunities.
Smart signings and renewed ambition
Everton’s new strategy has focused on avoiding the costly missteps of the past. Under former owner Farhad Moshiri, eight players bought for £20m or more eventually left for nothing, representing £188m in lost fees.
Marquee loan addition Jack Grealish has been central to the new approach, delivering two assists in each of his first two league starts for the club. Kiernan Dewsbury-Hall, recruited from Chelsea for £24m, has created more chances per game than any Everton player since the start of last season, while £27m forward Thierno Barry has impressed with his link-up play. Tyler Dibling, potentially a £40m signing, is yet to debut but offers another attacking dimension.
Moyes also retained Seamus Coleman and Michael Keane, with Keane particularly impressive so far. Former Everton midfielder Leon Osman believes Moyes has targeted players who raise standards in the dressing room, combining energy with leadership.
Despite ranking only seventh for net spend this summer — £24m behind Manchester City — they have outperformed expectations on the pitch. Osman feels Moyes will be eyeing the club’s first silverware since the 1995 FA Cup while keeping a balanced perspective.
He believes a mid-table finish would still mark major progress but says the squad must keep pushing each other to maintain their current levels, describing the situation as “a great opportunity” for both Moyes and the club.
