Everton's 2025-26 campaign was a season of two halves.
For much of the year, David Moyes' side looked like genuine contenders for European football. But a disastrous finish saw the Toffees tumble down the table, leaving serious questions over whether the experienced manager can guide the club forward.
With a new stadium, another busy transfer window, and Moyes entering the final year of his contract, the upcoming campaign could define Everton's immediate future.
Everton spent much of last season exceeding expectations.
Loan signing Jack Grealish made an immediate impact, while Kiernan Dewsbury-Hall proved a consistent match-winner. Up front, Thierno Barry and Beto recovered from slow starts to become reliable goalscorers.
A commanding 3-0 victory over Chelsea on 21 March lifted Everton to eighth in the Premier League, just three points behind the Champions League places with seven matches remaining.
Supporters began dreaming of Europe.
Instead, the season unraveled.
Everton failed to win any of their final seven league matches — their longest winless run since Moyes returned to Goodison Park in 2025.
The slide began with a 2-2 draw against Brentford on 11 April, and from that point onwards Everton produced relegation-level form. During the closing weeks of the campaign, only relegated Burnley and Wolves also failed to register a league victory.
Despite their collapse, Everton still entered their final home match against Sunderland with European qualification within reach.
Before kick-off, CEO Angus Kinnear described the campaign as one of being "happily dissatisfied" — comments that quickly rang hollow after a disappointing 3-1 defeat.
The contrast became even more striking as promoted Sunderland secured seventh place and qualified for European football for the first time in 53 years.
Ironically, Everton have finished 13th in both full seasons since Moyes' return, but the circumstances couldn't have been more different.
When Moyes returned 18 months ago, Everton were sitting just one point above the relegation zone before finishing 23 points clear of danger.
Last summer, the club invested a record £97 million net in the transfer market yet ended in the same position despite collecting just one additional point.
Former Everton midfielder Leon Osman believes the club has nevertheless made meaningful progress.
"When David Moyes first came in, we flew out the blocks and had a great start. That continued for well over a year before the first low period at the end of last season.
"I still feel that we made progress last season, which is what we wanted, along with stability."
Now 63, Moyes has repeatedly highlighted the financial challenge of competing with the Premier League's biggest spenders.
Everton rank 15th among current Premier League clubs for net spending over the past five years, while rivals have shown success doesn't always require massive investment.
Bournemouth recorded an £81 million profit from player sales last summer yet finished sixth, while Brighton generated a £41 million profit and ended the season in eighth.
The move into the modern Hill Dickinson Stadium was expected to spark a new era, but Everton struggled to adapt.
Their 1.2 points per game at home was the worst return ever recorded by a Premier League club in its first season at a new stadium, despite producing top-seven away form.
Osman believes both Bournemouth and Brighton are simply further along in their long-term development and pointed to Grealish's injury in January as a major turning point.
Everton's numbers underline his importance:
"David Moyes is an intense manager and by the end of the season, a small squad couldn't quite last," Osman said.
"Changes take time. No one is thinking about relegation, which shows what Moyes has done. He's got 12 months remaining and I'd expect him to see that out."
Everton's recruitment strategy remains a work in progress.
Under former owner Farhad Moshiri, the club notoriously saw eight players signed for at least £20 million eventually leave on free transfers.
Following the Friedkin Group takeover, Everton signed nine players last summer with a greater emphasis on youth, although several are still developing.
Grealish and Dewsbury-Hall proved excellent additions, but Tyler Dibling, signed from Southampton for £35 million, started just six league matches.
Left-back Adam Aznou, who joined from Bayern Munich, is yet to make his Premier League debut.
Striker Thierno Barry dominated aerial battles throughout his first Premier League season but struggled for consistency in front of goal, while midfielder Merlin Rohl only established himself after an impressive run of four starts in May.
According to BBC Radio Merseyside reporter Giulia Bould, Everton are expected to re-sign Grealish on loan later in the transfer window as he continues recovering from a stress fracture in his foot.
However, his wages are still expected to remain around £200,000 per week.
Meanwhile, star attacker Iliman Ndiaye continues to attract interest from Saudi Arabia.
Osman believes keeping Ndiaye should be a priority.
"I'd welcome Grealish back, but only at a price that suits Everton," he said.
"Ndiaye, I'd hate to lose him. There may come a point where the price is right and Everton can reinvest in two or three players, but I think they should do everything they can to keep him."
One of Everton's biggest challenges remains squad depth.
Moyes used just 22 players in the Premier League last season — the fewest of any club — while making only 128 substitutions, at least six fewer than every other manager.
The club continues investing heavily in younger players.
Midfielder Hayden Hackney arrived from Middlesbrough for £16.5 million, while winger Tyrique George joined from Chelsea for £18 million after spending the second half of last season on loan at Everton.
Experienced reinforcements could also arrive, with Celtic full-back Alistair Johnston and Arsenal midfielder Christian Norgaard both linked with moves to Merseyside.
The average age of Everton's signings during Moyes' second spell remains below 24, including three players aged 20 or younger.
Yet players aged 21 or under accumulated only 1,088 Premier League minutes last season, ranking Everton 17th in the division.
The departures of veterans Seamus Coleman and Idrissa Gueye remove more than 600 Premier League appearances from the dressing room, while midfielder James Garner is expected to miss the start of the new campaign after groin surgery.
That leaves Moyes facing a balancing act between trusting youth and maintaining consistency.
"They need to show they're capable and deserve to play," Osman added.
"I'm hoping that after a year of understanding what's required, players like Dibling and George will make that progression. If they do, suddenly the squad looks much stronger."
