Everton is facing a significant financial challenge. Recent reports indicate that Jack Grealish’s foot injury has ended his season early. Keith Wyness, the former CEO at Goodison Park, shared this update with Football Insider, revealing that the England player requires surgery for a stress fracture.
Everton’s Financial Struggles Amid Grealish Injury News
In a discussion on the Inside Track podcast, Wyness explained the tough financial impact of losing a player like Grealish. Many assume that insurance covers full wages during injuries, but Wyness clarified that it typically covers only a fraction. This means that Everton still has to pay a large portion of Grealish’s salary while he is sidelined. As Wyness stated, “there are really no winners” in this scenario.
He noted on the Inside Track podcast: “Yes, there will certainly be a financial loss for Everton because of this.
“People often ask if there’s insurance for these situations. There is, but it won’t cover the entire wage cost.
“The insurance usually only reimburses a percentage. So, they’re still responsible for a significant amount, which could be quite substantial until the season concludes. There are really no winners in this situation. This will be accounted for at the end of the year.”
Financial Assessment and Impact
This situation severely strains Everton’s already limited budget. Wyness’s remarks shed light on the hidden expenses Premier League teams face when a star player suffers a long-term injury. Insurance often does not cover full wage costs, and clubs may need to wait for payouts or find their claims capped at a certain percentage.
Everton is already closely monitoring its finances to comply with the Profit and Sustainability Rules (PSR). Paying a top player to remain off the pitch is a significant burden they cannot afford.
At 29 years old, Grealish is a vital player for the team. His absence not only impacts the budget but also limits David Moyes’ strategic options. The winger’s large contract means that holding onto this financial commitment until May leaves the club with less flexibility in the transfer market.
The situation complicates their ability to allocate funds for other priorities. Wyness indicated that these financial pressures will continue impacting the club through the end of the season and will eventually reflect as losses in year-end financial statements. The board will have to accept these losses despite being already financially strained.
Can Everton Manage This Unexpected Financial Burden?