Everton’s bold pursuit of Manchester City’s Jack Grealish, a move that promised to be a marquee signing for their new era at the Hill Dickinson Stadium, is on the brink of collapse as financial constraints cast a shadow over the deal. The Toffees, under the stewardship of manager David Moyes and new owners the Friedkin Group, have been chasing the 29-year-old England international throughout the 2025 summer transfer window, eyeing a loan deal to bring the flair-filled winger to Merseyside. However, the Premier League’s Profitability and Sustainability Rules (PSR) and Grealish’s hefty £300,000 weekly wages are proving formidable obstacles, threatening to derail the ambitious transfer and leaving Everton scrambling to secure alternative targets.
Grealish, who joined Manchester City for a record-breaking £100 million in 2021, has struggled to secure a consistent starting role under Pep Guardiola, starting just seven Premier League matches last season and being omitted from the Club World Cup squad. His limited game time—1,521 minutes across 32 appearances with three goals and five assists—prompted City to open the door for a move, with Everton emerging as frontrunners. Moyes, a long-time admirer, once hailed Grealish as “probably the best player in the Premier League” during his Aston Villa days in 2021, and saw him as the creative spark to complement players like Iliman Ndiaye. “Grealish would be allowed to thrive at a club where he would be loved, without the shackles of the Guardiola system,” noted a pundit, emphasizing the potential for Grealish to rediscover his form as Everton’s main man.
The proposed deal, described as a “deluxe” loan, would see Everton pay a £10 million loan fee and a third of Grealish’s £15 million annual salary, with Manchester City covering the remaining two-thirds. “I think there’s a good chance that this one gets done now,” said former Everton CEO Keith Wyness, outlining a structure where “a higher loan fee helps the club contribute to the wages.” However, Everton’s historical PSR breaches—resulting in an unprecedented 10-point deduction in 2023 and a further two points in 2022-23—have heightened caution. “For Everton, I do wonder with their FFP and PSR, whether they can get near what other clubs would offer financially as a wage package for him,” warned former England goalkeeper Paul Robinson, noting that rivals like West Ham, Tottenham, and Newcastle could outmuscle Everton by covering a larger portion of Grealish’s wages.
Everton’s financial tightrope is well-documented. The club recorded losses of £371.8 million from 2018-19 to 2021-22, far exceeding the Premier League’s £105 million threshold over three years, leading to sanctions and a lingering fear of further penalties. The recent sale of their women’s team to a Friedkin Group sister company for £60 million was a strategic move to ease PSR pressures, but their summer spending—£50 million on players like Thierno Barry and Adam Aznou, plus a £40 million bid for Southampton’s Tyler Dibling—has strained their budget. “It’s an ambitious move from Everton if they do try and win the race for Dibling,” said journalist Pete O’Rourke, highlighting the 19-year-old as a “very impressive young player” and a cost-effective alternative to Grealish, whose style he mirrors with his dribbling and playmaking.
The competition for Grealish is fierce. West Ham and Napoli have made inquiries, while Newcastle’s interest has intensified, potentially fueled by funds from a possible Alexander Isak sale. Grealish’s preference to stay in the Premier League and secure regular playing time ahead of the 2026 World Cup aligns with Everton’s pitch, but Robinson cautioned, “There’ll be a lot of Premier League clubs looking at Jack Grealish, and there’ll be clubs that can pay a bigger chunk of his wages.” Napoli’s interest, following Kevin De Bruyne’s move to Serie A, adds an international dimension, though Grealish reportedly turned down a move to a Turkish club.
Moyes, frustrated by Everton’s sluggish transfer activity, admitted, “We’re running out of time to develop a Premier League-ready squad.” The club’s shift toward Dibling, whose £55 million price tag poses its own challenges, reflects a pragmatic pivot as the Grealish deal falters. Despite his elite metrics—ranking in the top 1% for progressive carries and top 8% for shot-creating actions—Grealish’s future remains uncertain. As Everton prepare for their season opener against Leeds United on August 18, the dream of Grealish igniting their new stadium may fade, overshadowed by the harsh realities of financial regulations.
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