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Everton owner Farhad Moshiri admits to wasting money as he apologises to fans for awful season

Everton have spent more than £500million since Farhad Moshiri bought a majority stake

Everton owner Farhad Moshiri has apologised to fans for the ‘fear and frustration’ of their relegation-threatened season and admitting to wasting money at the club. 

A come-from-behind 3-2 victory over Crystal Palace three days before the end of the campaign extended the Toffees’ top-flight spell to 69 years, sparking joyous scenes with thousands of fans spilling onto the pitch. 

But on the whole it was a miserable year for their supporters, one which started with the controversial appointment of former Liverpool manager Rafael Benitez who was sacked after just 200 days in charge having won just five league matches.  

Everton have spent more than £500million since Farhad Moshiri bought a majority stake

Everton endured a dreadful season and survived relegation by the skin of their teeth

Everton endured a dreadful season and survived relegation by the skin of their teeth

Thousands of Everton fans invaded the pitch after Premier League safety was confirmed

Thousands of Everton fans invaded the pitch after Premier League safety was confirmed

While Moshiri did not refer to the Spaniard, whom the owner pushed to appoint despite dissenting voices from the board, by name he acknowledged there had been errors.

That also extended to the transfer market, where Everton have spent more than half-a-billion pounds since Moshiri took over in 2016, and also the clumsy appointment of Benitez’s successor Frank Lampard.

‘Mistakes have been made and for that I want to apologise to all of you,’ said the owner in an open letter to supporters.

‘It has not been good enough and we need to do better. You have given us incredible support that helped us over the line when we most needed it, and we must repay that support and show that lessons have been learnt.

Rafa Benitez was an unpopular appointment and failed to win over the Everton fans

Rafa Benitez was an unpopular appointment and failed to win over the Everton fans

One signing that certainly didn't work out was the £23.6million purchase of Davy Klaassen

Moise Kean cost £24.5million from Juventus but struggled to settle and left

Davy Klaassen (left) and Moise Kean (right) are two examples of failed Everton signings

Everton have been largely unsuccessful in the transfer market in recent years, splurging £26million on Yannick Bolasie, splashing out big wages on James Rodriguez, £24m on Davy Klaassen, £20m on Cenk Tosun and £24m on Moise Kean among many others who have since moved on. 

In an unusual step for an owner, Moshiri admitted that the club’s recruitment has been wide of the mark. 

He continued: ‘We are committed to not making the same mistakes again, including how we have not always spent significant amounts of money wisely.’

‘There is no denying that it was an amazing night when we turned around a 2-0 half-time deficit to secure a sensational victory and guarantee a 69th…

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