Everton have agreed to extend their existing loan deal with Rights and Media Limited to spin the club’s coffers.
Financial expert Kieran Maguire, who has worked for The Times in the past, shared the news via his personal Twitter account as Farhad Moshiri seeks to maintain balance in the dark at all costs.
The extended loan could be due to a busy transfer window at Goodison Park where the club made a number of late additions after selling Richarlison to Tottenham Hotspur.
James Garner, Idrissa Gana Gueye, Amadou Onana, Neal Maupay and Dwight McNeil have all cost the club transfer fees and Anthony Gordon has brought no further investment despite prolonged interest from Chelsea.
“Everton are renewing/extending loan agreement with Rights and Media Ltd. This could be the £100m loan shown in the 2021 accounts, but that may not be the case,” he said. said Maguire.
Loans are fine in the short term when the need for extra cash is desperate, but they still result in an overall loss when it comes time to pay back all that money to the banks.
One day, Moshiri will find himself giving more than nine money figures because he was forced to go on loan at a crucial time in the club’s history and he will almost certainly come back to bite them.
And with Frank Lampard’s side currently struggling to kick off their 2022-23 Premier League campaign with two defeats and three draws, there’s no obvious place the money will come from.
The TV money should be enough to break even, but the club is far from profitable at the moment and if it ends up going down there will also be parachute payments to come.
But no one wants to have to rely on such an incoming if possible and Moshiri has a big job to do to make sure the Toffees’ future is secure.