If anybody does think of it, it's in relation to a new centre-back, maybe Zaha... and if we're really lucky, a decent keeper.

Good work, though.

Do these figures take into account those who have already paid for season tickets for 2020-21? Or, if any part is carried over or refunded, how it might affect the season crowds are allowed back?

However, the conclusions you come to seem consistently pessimistic compared to the outcome, specifically in relation to transfer funds available under Moshiri.

I guess the gap here is the ongoing largesse of Moshiri as clearly Everton have not been remotely running on a sustainable basis since he arrived.

I for one greatly appreciate the time and research you dedicate to your in-depth pieces. They are always thought-provoking on unseen factors many of us are not aware of which will determine and impact on the club's desire to progress.

I fancy I am not alone in thinking that here on ToffeeWeb.

Keep up the good work, please.

Underneath all the optimism of progress on the field – sometimes quite remarkable progress – lies our finances. Nothing will last, nothing is sustainable unless the finances are in place, or the facilities to earn that finance are in place. Our finances are more central to our long term future than buying James or Allan.

While the rest of us have fun with 14 goals in 4 games, Paul is locked away in a garret somewhere, warming his fingers on a Dickensian candle, keeping our feet on the ground.

I previously estimated that Covid and the relaxation would give Everton two years more to sort out there finances to comply with FFP rules.

It's interesting that they have taken advantage in the transfer market to put Ancelotti/Brands cost-effective beneficial change in place. The reluctance of older and deadwood players to move on is a problem that Everton have had for a while. Fortunately Brands has been working to reduce the impact on Everton. Allowing Big Sam to purchase Tosun and Walcott in that January transfer window could prolong things. But at least Ancelotti has been able to find some value in players that we may have been added to the heap.

Maybe because Everton's commercial side is underdeveloped, the Covid-19 impact on revenues won't impact as much as it will with other Clubs, who will lose more revenue. Anyway, the development of the Stadium and the commercial side is going to be needed to turn finances around once the Covid-19 effect is lessened.

It is fortunate that Moshiri recruited Ancelotti, which increasingly looks a low-risk move and value for money. A decision that now appears to have been ahead of the game.

And what is your profession?

Extraordinary degree of effort here.

Profession? I have run businesses and been an investor in businesses across many sectors and regions for more than 25 years.

Everton were way too dependent on broadcast revenue, making us susceptible if that market were to collapse, as predicted by many. Whilst it's softened (the growth was unsustainable), "new" entrants like Prime, BT etc kept Sky "honest" (for want of a much better phrase).

At one time recently, clubs like Man Utd and Liverpool's commercial revenue alone outstripped Everton's total revenue.

What no-one could've really foreseen was a collapse in matchday revenue (and short-term reduction in broadcast revenue) from a pandemic.

With the way the broadcast revenue is set up, I believe that the Premier League is amongst the most equitable. Overseas broadcast is still split equally between the 20 clubs – this is an area that Liverpool and others are trying to change, arguing that they have the bigger overseas fanbase. As long as the Premier League is one-man one-vote, then it's unlikely to change... but, if it does, the protectionism of the media 4 or 6, will be complete.

At that stage, I'd say give them their European league they crave and let's get back to proper competitive league football. (On the proviso, when that collapses, they re-enter at the bottom of the football pyramid.)