Since the start of the 2022-23 season, when Thelwell oversaw his first transfer window, Everton have implemented considerable cost-cutting measures to balance the books and are the only Premier League club during that period with a positive net spend of £80m.
But despite receiving two deductions totalling eight points after an appeal for breaching the Premier League’s Profit and Sustainability Rules (PSR) last season, the club have managed to survive in the top flight and are 15 points clear of the bottom three.
Thelwell sanctioned the signings of 22 players – with significant fees paid only for players aged 25 or under – and either sold or released 26 players, particularly those who were older and high-earning.
The largest transfer outlay was on Amadou Onana for £33m from Lille in 2022, and the Belgium midfielder went on to join Aston Villa in the summer for £50m.
Watts added: “Kevin has been integral in ensuring Premier League survival in this difficult period.
“By resolving Profit and Sustainability issues through significant player trading we believe we have an extraordinary squad that can be the foundation for future success.”
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