Everton are worried about their current financial position, according to journalist Pete O'Rourke.

The Premier League outfit are struggling on the pitch at the moment as they are involved in a relegation battle, and there also appear to be off-field issues at the club.

What's the latest news on Everton's financial situation?

The Toffees cut ties with Alisher Usmanov at the start of March after the Russian was sanctioned following his nation's full-scale invasion of Ukraine.

This meant that Everton's sponsorship deal with Usmanov's firm, USM, was suspended, causing the club to take a financial hit.

It was then revealed on Tuesday that the club had recorded an annual loss of £120.9m for the year ending June 2021. This is the third successive year that Everton have confirmed losses of more than £100m.

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What has O'Rourke said about Everton's financial problems?

O'Rourke has pointed out that Everton had to spend carefully last summer, and he has hinted that there are growing concerns about them having to take a similar approach in the next transfer window as well.

He told GIVEMESPORT: “With the Usmanov stuff as well, and the sponsorship deals of his being stopped now, it’s a worry. Where’s the money coming from?

“We saw in the summer transfer window, Everton were very restricted on financials, FFP. So, again, that’s a concern for everybody connected with the club.”

Will Frank Lampard be able to improve his squad this summer?

It's difficult to say, as things stand.

Everton have managed to avoid sanctions despite their financial issues, and it remains to be seen how much leeway the Premier League give them in terms of buying players this summer.

Last summer, Everton only spent £1.8m on players, and it has come back to haunt them as they have fallen down the table this term.

If they manage to stay up, it seems that Frank Lampard would need to be given a significant amount of money to strengthen his team ahead of next season, if the club want to avoid being dragged into another relegation scrap. Right now, there are likely to be doubts about whether he will be given sufficient funds.

The Merseyside club may end up having to sell some of their star players to bring some money in, which Lampard could then reinvest in the squad, and hope that this leads to an upturn in results in 2022/23.