Everton would be absolutely f*cked if they were relegated. Their current losses put them in real potential trouble with FFP and should they get relegated, I could see another potential Leeds x 100. The building of a new stadium would stop and the players they have, though there is a massive gap in quality compared to players in this league. They don't have the 'fight' over a full season in the Championship.
They've lost their 'real' backer in Usmanov due to the sanctions.
I do have a soft spot for Everton and have seen this coming for a couple of seasons. I have them at 20/1 to get relegated.
Definitely a sell out.
Would they though?
They've spent an inordinate amount of money over the years but people are focusing too heavily on their last set of accounts and not actually realising that the level of cost cutting being carried out at the club currently.
They've rid themselves of Walcott, Rodriguez, Bernard and Bolasie, sold Digne in January and in the summer will offload Tosun, Delph and Sigurdsson upon the expiry of their contracts. Van De Beek and El Ghazi will also return to their parent clubs.
If they were to go down, Richarlison, Calvert-Lewin, Kean and Pickford will be sold which could potentially generate anything between £120m-150m in fees, depending if you believe the reported asking prices being quoted. They'd equally save significant costs on their wages
Those with one year left on their contracts would either be loaned out, nominal fees received or agreements be made.
The Alli deal is an issue but there are ways and means around that.
Granted if they remained in the Championship for longer than a couple of seasons serious issues would inevitably arise for the obvious reasons but in the short term they'd probably be OK.
Don't forget they'd receive £45m in parachute payments as well.
The stadium situation would be precarious but there's already been indications about what they could do if they were to be relegated.