sport news Everton 'suffer record financial losses', limiting Carlo Ancelotti's spending ...

Everton 'suffer record financial losses', limiting Carlo Ancelotti's January transfer budget and sparking a squad clear-out, as the gap with Merseyside rivals Liverpool expands Everton are set to announce they were hit by a record financial loss last season  The news will limit Carlo Ancelotti's spending as he looks to strengthen  A clear-out of fringe squad men is planned but there are funds for key signings  The news highlights the gulf from the Toffees to Merseyside rivals Liverpool 

By Toby Miles For Mailonline

Published: 14:30 GMT, 5 January 2020 | Updated: 14:42 GMT, 5 January 2020

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The contrast between Liverpool and Everton is getting ever more bleak for the Toffees, with the Goodison Park side set to announce they suffered the worst financial losses in their history last season - a blow to Carlo Ancelotti.

Everton have made a speedy turnaround since Marco Silva's departure, climbing out of the bottom three under caretaker Duncan Ferguson before bringing in triple Champions League winner Ancelotti.

However, fans are about to receive bad news, with the Toffee's preparing to reveal the financial blow in the next days, according to the Telegraph.  

Everton are set to announce recording financial losses, a blow to new boss Carlo Ancelotti

Everton are set to announce recording financial losses, a blow to new boss Carlo Ancelotti

The Italian's spending is set to be capped, but they are in no danger of Financial Fair Play

The Italian's spending is set to be capped, but they are in no

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