FILE PHOTO: Soccer Football - Premier League - Everton v AFC Bournemouth - Goodison Park, Liverpool, Britain - October 7, 2023 General view inside the stadium before the match REUTERS/Ed Syke/File Photo
(Reuters) - Everton are unlikely to sign players in the January transfer window as they have to be financially prudent, the Premier League club's director of football Kevin Thelwell said on Wednesday.
Everton were docked 10 points last month for breaching profit and sustainability rules, exceeding the threshold of 105 million pounds ($133.68 million) of losses permitted over a three-year period.
Despite investing nearly 750 million euros ($828.60 million) on players since the 2016-17 season, Everton have found themselves involved in relegation battles in recent seasons.
"Financial prudence is crucial to protect the long-term security of the club," Thelwell said in a statement.
"In the three transfer windows we have navigated since I arrived, we are in a positive position in terms of net spend. And the wage bill has been significantly reduced.
"As we look to January, I can assure you that, whilst there may not be a great deal of transfer business taking place in the coming weeks, it does not mean the hard work is not continuing," .
"I have been keen to manoeuvre the club into a position whereby we are planning two or three transfer windows ahead - not two or three weeks.
"January is unlikely to be a busy month here. But hard work is ongoing to ensure a squad that has performed consistently well this season can continue to evolve and develop this season, in the summer and beyond."
Everton's financial losses and the cost of building a new stadium have made spending on reinforcements more difficult.
They are 17th in the standings, a point above the relegation zone, and host Manchester City in the league on Wednesday.
($1 = 0.7855 pounds)($1 = 0.9051 euros)
(Reporting by Shifa Jahan in Bengaluru; Editing by Ken Ferris)
