Is hope now all Everton fans have to cling on to?

There’s an oft-quoted saying among Everton fans that “it’s the hope that kills you”.

You could also add to that, “be careful what you wish for”.

The ‘hope’ was previously for better fortunes – a European placing, or a cheeky cup final victory.

As Everton approaches the 2023-24 season, it’s now the hope of, perhaps once again, avoiding relegation, after two consecutive ‘squeaky bum’ seasons.

The club has found itself in the flotsam and jetsam of Premier League strugglers following an almost fairytale-like takeover in 2016 by billionaire owner, Farhad Moshiri.

He was viewed as a saviour following the barren years of chairman Bill Kenwright, who readily acknowledged he didn’t have the personal financial clout to compete in the Premier League.

But, despite the evidence of Manchester City, money doesn’t always guarantee success.

Moshiri’s stewardship has seen a succession of different managers, a patchwork of playing systems, and a steady decline, with more than £500m squandered on, mostly, dud signings.

It’s classic, left hand not knowing what the right hand is doing, with, one season, seemingly, no communication between the manager at the time and their director of football, resulting in three number 10s being signed in the same transfer window and millions of the transfer budget blown.

The new Moshiri regime brought investment, but nothing to show for it, other than a new ground currently under construction at Bramley-Moore Dock.

On the pitch, the club’s fall from grace has continued.

Fans hoped the new era would see the Blues emerge from the shadow of neighbours Liverpool, but Russia’s invasion of Ukraine in February last year dealt a hammer blow to yet another false dawn.

Moshiri’s business partner, Uzbek-born Alisher Usmanov, was among those sanctioned by the European Union and the UK for his Russian business links, severing a sizeable chunk of potential investments for the club.

Its Finch Farm training ground bore Usmanov’s USM brand and his Megafon signage was on the club’s Goodison Park ground and the shirts of the women’s team.

Usmanov, worth more than £13bn, even revealed a £30m deal with the club in 2020, just for the option on the naming rights for Everton’s new stadium.

And since his censure, COVID-19 has ravaged the club accounts, with fans barred from grounds during lockdowns.

The club’s last published annual accounts, released earlier this year, revealed a fifth consecutive pre-tax loss.

With the side already embroiled in a relegation dog-fight, club auditor, Crowe UK, ominously warned: “Should the club be relegated, it will require additional financial support from its majority shareholder, who themselves are reliant on support from their majority shareholder, who have indicated they are supportive of the group, but the support is not legally or contractually binding.

“These matters indicate that a material uncertainty exists that may cast significant doubt on the group’s ability to continue as a going concern.”

Add to that the threat of a huge fine, or even worse, a points deduction, when the club’s alleged breach of the Premier League’s financial fair play rules goes before an independent commission on October 25, matters could get decidedly worse.

Blues fans were afforded a glimmer of optimism in June when it was revealed that a New York-based investor had raised $165m, around £130m, in its bid to plough cash into Everton.

Talks between the club and MSP Capital could see Moshiri dilute his 94% stake in the business, but still retain overall control.

Everton’s proposed new stadium

The cash was earmarked for investment towards the build of the new stadium, which has ballooned from £500m in cost to £760m, and also transfer funds for the new season.

But almost seven weeks after the MSP announcement, and the clock on the transfer window inexorably ticking down, the investment into the club’s coffers is still to be confirmed.

In June, the King Casino Bonus supercomputer predicted the 2023-24 final Premier League placings, and put Everton at 15th – however, some die-hard fans would probably view that as even too much to hope for.