£200m written off - lessons Everton must learn in pivotal summer

Everton manager David Moyes will lead the club into their new stadium in 2025-26

On 11 January, David Moyes was appointed Everton manager for a second spell following the sacking of Sean Dyche, with the club one point above the relegation zone. They ended the campaign in 13th place, 23 points clear of the bottom three.

After recent years of points deductions and relegation battles, there is hope that the return of Moyes, new owners and the move to a new 52,888-seater stadium can lead to a brighter future for the Toffees.

With the feeling of a fresh new start across all aspects of the club, BBC Sport looks at the lessons that must be learned this summer as they prepare to begin life at Bramley-Moore Dock.

Everton are currently navigating their first summer transfer window under the ownership of the Friedkin Group, who bought the club for in excess of £400m in December.

Football finance expert Kieran Maguire estimates that Everton will have between £50m-100m to spend in this summer transfer window – a dramatic increase in contrast to the past four seasons when the club has essentially spent nothing, totalling £85.5m of profit from player trading.

Such frugality has been a consequence of reckless financial planning that led to Profit and Sustainability Regulation (PSR) breaches, two points deductions and narrow escapes from relegation.

Everton must now learn from past mistakes in terms of getting value for money.

The near nine-year ownership of Farhad Moshiri, who bought a majority shareholding in 2016, was marred by a scattergun transfer policy and merry-go-round of seven permanent managers which saw Everton splurge money on inflated fees and huge contracts.

Abdoulaye Doucoures decision to reject a new deal in May means that eight players signed for at least £20m during Moshiris reign have now left for nothing, effectively writing off £188m in transfer fees.

Should out-of-contract defender Michael Keane, signed from Burnley for an initial £25m in 2017, also depart this summer, that figure will climb well past £200m.

Former Everton midfielder Leon Osman believes its something that "must improve" going forward.

"Its not ideal when youre paying for a player and getting no return," he said.

"Its been a difficult 10 years with regards to bringing players in and moving them on for a profit, but thats an awful lot of money to spend on players to see them walk away."

Jean-Philippe Gbamin played just six Premier League games for Everton after joining in a £25m deal from Mainz in 2019

Of the big money signings who left for nothing, midfielder Doucoure was arguably the best value, making 149 Premier League appearances and scoring the goal that ensured Evertons Premier League survival in 2023.

The other end of this particular spectrum is more congested, including the injury-plagued Jean-Philippe Gbamin, who made just two league starts after joining from Mainz for £25m before leaving for the French second tier four years later.

Yannick Bolasie, who cost £25m from Crystal Palace, scored two Premier League goals before being loaned out four times and then leaving for free.

Cenk Tosun scored five goals in 14 games after joining for £27m but then made 14 starts in the subsequent four seasons as he was loaned out to Palace and Besiktas.

The theme is clear: when Everton have had larger sums of money available, they have often spent it poorly, a failing that cannot be repeated if the Toffees are to build towards the European football that Moyes has said he craves.

Everton striker Dominic Calvert-Lewin is yet to sign a new deal with his current contract set to expire in July

There have been transfer successes since the more chaotic days of Moshiris ownership.

Jake OBrien and Iliman Ndiaye, both signed last summer for initial fees of under £17m, have been prudent investments – although both purchases had to be funded by the £50m sale of Belgium international Amadou Onana to Aston Villa.

Evertons ability to recruit effectively, and Moyes savviness in the transfer market, will be tested by the necessity to overhaul an entire squad, with 12 players, including 10 from the first team, out of contract this summer.

Captain Seamus Coleman and midfielder Idrissa Gueye are in negotiations to extend their current deals, although striker Dominic Calvert-Lewin could yet leave the club, along with Keane.

Ashley Young and Doucoure have already confirmed their departures, along with back-up goalkeepers Asmir Begovic and Joao Virginia, while loanees Jack Harrison, Jesper Lindstrom, Orel Mangala and Armando Broja have returned to their parent clubs.

Everton confirmed the permanent signing of Carlos Alcaraz for £12.5m in May but major gaps still exist in terms of goals, creativity and depth.

Osman, who made 437 appearances for the club between 2003 and 2016, believes that the exodus provides an opportunity for a "fresh start".

"This is where we build from," said the 44-year-old. "Everton have had so many managers over the years and so many different styles of player who play different systems. David Moyes knows what Everton are."

Leon Osman played for David Moyes at Everton between 2003 and 2013

Patience may be required for any rebuild as the Friedkin Group continues to navigate the implications of PSR.

The clubs most recent accounts for 2023-24, external show a loss of £53.2m, a reduction of £36m on the previous year, while revenue rose by 9% to £187m – an encouraging picture although one that means that money must still be spent wisely.

Osman, who was given his Everton debut by Moyes in 2003, believes that Everton must retain key players such as Jarrad Branthwaite, James Tarkowski and Jordan Pickford, while recruiting more leaders to bolster a rapidly thinning squad.

"A Moyes dressing room is hard, demanding," he said. "Having spoke to a couple of the squad, they love the clarity and what hes asking of them.

"A manager has to ask for that level and he always did that when I played for him. You also look at OBrien, who has excelled at right-back when people thought he couldnt do it. We need to make sure these people stay on the pitch."

The failed pursuit of new Chelsea striker Liam Delap, who was spoken to by Moyes, shows that centre-forward - and more goals in the team - is a priority, along with a right-back, right-winger and central midfielder. Departures, though, mean that recruitment is needed in almost every position to provide squad depth.

The club are reportedly interested, external in Villareal striker Thierno Barry, who is currently playing for France in the European Under-21 Championship.

Everton have taken steps to streamline their process, moving away from a director-of-football model following the departure of Kevin Thelwell to a sports leadership team headed by new chief executive Angus Kinnear.

He has said that Everton will utilise experts in data and analytics, football operations, recruitment, talent ID and player trading as part of the clubs evolving approach.

Kinnear has also already met with supporters group the Fan Advisory Board – a far removal from the previous regime when former manager Dyche described communicating with then-owner Moshiri by "Whatsapp and the odd phone call".

Osman has backed the new structure to succeed and added: "Its time to get behind the new hierarchy and I expect they would lean into Moyes experience as much as they can. I trust David Moyes more than anyone."